The lack of annotated datasets is a major challenge in training new task-specific supervised AI algorithms as manual annotation is expensive and time-consuming. To address this problem, we present MONAI Label, a free and open-source platform that facilitates the development of AI-based applications that aim at reducing the time required to annotate 3D medical image datasets. Through MONAI Label researchers can develop annotation applications focusing on their domain of expertise. It allows researchers to readily deploy their apps as services, which can be made available to clinicians via their preferred user-interface. Currently, MONAI Label readily supports locally installed (3DSlicer) and web-based (OHIF) frontends, and offers two Active learning strategies to facilitate and speed up the training of segmentation algorithms. MONAI Label allows researchers to make incremental improvements to their labeling apps by making them available to other researchers and clinicians alike. Lastly, MONAI Label provides sample labeling apps, namely DeepEdit and DeepGrow, demonstrating dramatically reduced annotation times.