How to develop AI based applications cost effectively and What is the role of Effect.AI in the soon to be revolutionized Industrial economy?
Hi all,
I would like to introduce a revolutionary concept that has already come into existence. This post is about the blockchain based website Effect.AI, which is committed towards help us work in the field of developing the AI (Artificial Intelligence) Based applications.
Let me start with the words of Wilber L Creech who once opined about decentralisation like this-
Many people believe that decentralization means loss of control. That's simply not true. You can improve control if you look at control as the control of events and not people. Then, the more people you have controlling events - the more people you have that care about controlling the events, the more people you have proactively working to create favorable events - the more control you have within the organization, by definition.
Decentralisation ensures the distribution of power without discrimination.Accumulation of it rather leads to the surge of disparity.The world has already started to witness the power of decentralisation. Steemit being one such example!
Again, Let me emphasize on the purpose me writing this post- I would like to introduce to you a new concept that I think is going to be the cornerstone of next industrial revolution - Effect.AI
WHAT IS EFFECT.AI ?
It is a new revolutionary concept in the realm of AI(Artificial Intelligent) development, whose Way of working is based on decentralization.That means there is no disparity, and above all, it is blockchain based platform powered by [neo(https://en.m.wikipedia.org/wiki/NEO_(cryptocurrency) .Before jumping straightly into the Modus Operandi of Effect.AI, Let me give a brief introduction about AI aka Artificial Intelligence.
ARTIFICIAL INTELLIGENCE AND ITS POTENTIAL
The scope of artificial intelligence is very huge. The history of mankind is moving forward to witness the next revolution in terms of way of living and Financial equality. We are witnessing the use of AI in our day to day life.It starts from the very phone you are holding in your hands.Your Smart Phones can now recognise your face, Your Voice, and it converts the words into text and vice versa.We were able to develop driverless cars and robots that can think in its own!
AI is the only solution for handling a lot of situations where humans cannot perform effectively. In various extreme places like Battlefields, Mining Fields, Medical Science etc, We find it really hard to manage effectively as human beings! There comes the importance of AI development.
Financially speaking, If you are a person who owns a manufacturing firm, the use of AI can drastically bring down the cost you have to bear in terms of 'Manual Labour costs'. Many unemployed and talented youths can set up their own business and contribute to the world economy!
WHAT IS THE PROBLEM PREVALENT IN DEVELOPING AI?
As per the whitepaper released by the Effect.AI,
"Despite the advantages AI brings, there are a number of problems that have to be dealt with, especially regarding the research and development of AI technology.These problems can broadly be categorized into three areas that currently make
AI research and development difficult to perform.
1. Data processing
The first problem is that of data processing.Intelligent applications perform tasks that traditionally require human feedback. Such tasks involve processing unstructured data and finding patterns that can provide useful output.These applications are trained on large data sets with annotations.Obtaining an annotated data set is non-trivial and requires a lot of time and resources.
2. Diverging Tasks
The second problem that currently makes AI hard to practition is that of diverging tasks. An obstacle when developing a complex algorithm is the need to interact with parts of the world outside the current domain. For example : a self-driving car learning to steer will also need to identify road signs around the world. This situation can best be treated as a knowledge system where the classification of the sign is done by an external application. This quickly increases the complexity of an application. Computational Costs The last main problem is the computational cost of AI algorithms. Developing and training AI systems is in most cases a computa-
tional intensive and thus expensive task. It requires a technical infrastructure capable of processing large amounts of data, doing batched processing on Graph-
ics Processing Units (GPUs) and coordinating the results."
THREE PHASES OF EFFECT.AI THAT PROVIDES THE EFFECTIVE SOLUTION FOR THE EXISTING PROBLEMS
The Effect Network has addressed these issues in a very effective manner. This system essentially works through three phases
Efeect Mechanical Turk
Effect Smart Market
Effect Power
Let me describe this briefly with the help of an example.
Imagine yourself to be the person having a great idea of introducing a revolutionary AI based application which can recognise the behaviour of users from their online activities and automatically suggest products to the person who pays a visit to the shopping site that you own. In this context,lets see how Effect.AI is going to be helpful to you in developing your Idea
PHASE I
You could use the Mechanical tusk system to send out tasks globally, asking users to perform various tasks in a test environment. You can analyse the behaviour from the abundance of data you are gathering.There is no intermediary. You will save on costs and have access to a large network of human intelligence at the same time. That will help you test and improve the AI
PHASE II
After a few months of rigorous testing, Imagine you have developed your application. It is the time to advertise your product in the marketplace. This space is provided in the Effect Network itself. Various businessmen will see your AI product and purchase it to optimise their business and reduce labour costs!
Phase III
Your product now is a huge success in the marketplace.Your clients use your AI from the cloud, and as part of your service, you take care of the computational power. Your first few sets of computers are running well above capacity.Now you turn to the Effect Network for help! Utilizing Effect Power, you are able to scale your AI and continue concentrating on improving the AI through data gathered by your customers.
See the video below to know this in a visual manner
HOW EFFECT.AI IS GOING TO CHANGE THE WAY AI DEVELOPMENT WORKS?
So far, The development of AI has been confined within the boundaries of large enterprises. Unfortunately, Great concepts were imprisoned within the brains of many talented tech geeks. The abundance of data needed and the high level of expenditure required prevented the great AI ideas from fruitification. It is that vacuum that is going to be filled by the successful advent of Effect.AI
The decentralised nature of the platform is a boon to its users. They get the chance to earn tokens for their participation which in turn provides the access to large quantity of data to the developer!
The marketplace offered by this platform will going to make a huge difference to the current AI markets
A big influx of AI developers is on its way to hit the world. Effect.AI is the channel for it.Its going to make the AI development more competitive and economic!
SOCIAL AND ECONOMIC IMPACT OF DECENTRALIZED MECHANICAL TURK
AI could contribute up to $15.7 trillion
to the global economy in 2030. - PwC,2017
We can realize how huge this is going to be in the coming years. The decentralised mechanical Turk offered by Effect.AI will going to impact our society and economy in a considerable manner.Let me point out few
The decentralised nature of this platform powered by the blockchain based technology will attract tens of thousands of people in the days to come. These users who are willing to be a part of various AI developments by performing small tasks will be rewarded with crypto tokens. They earn money which will profoundly change the lives of many users financially.
Many tech geeks having great ideas with them are struggling under the purview of other firms which curb their creativity. Such people can easily get access to the services offered by Effect.AI and see their dreams come true!
As the technology pumps into our industries and establishments like never before, we will actually going to witness an industrial revolution!
'Wealth distribution equations' in favour of rich that has been dominating the world hitherto are going to be rewritten as the advent of AI would redistribute the wealth in a decentralised manner!
HOW WILL BRINGING DOWN THE COST OF AI DEVELOPMENT INCREASE INTEGRATION?
Reducing the cost required to develop AI applications will attract a lot of investors into this platform which in turns increase the integration by every aspect.Indeed the world was looking for such a revolution to take place quite for a long time now. The cost-effective concept of the development of artificial intelligence-based applications will spread the awareness even among laymen!
HOW CAN INDIVIDUALS OR GROUPS BENEFIT FROM EFFECT.AI WEBSITE?
People can benefit in two ways
Being a developer
Being an average user
There is no role for an intermediary in this website.So you have only two ways to benefit(I'm leaving alone sub ways)
Being a developer of AI applications, you can make the best use of Effect.Ai website by utilising the options to gather a large varieties of data of the human intelligence by simply assigning customised tasks in testing environment. The Mechanical Turk is the phase to do that.After developing the desired application you can make the use of the marketplace to sell your product.And continuous maintenance and improvements can be done by with the help of the third phase!
Being an average user, you can earn crypto tokens for the completion of small tasks set by the developers of the AI applications. Simply go and check the website. You have the chance to buy the newly developed AI applications for the optimisation of your business firm and can bring down the labour cost
The token sale is set to begin within a week.I invite you all to be a part of this revolutionary initiative.
To know more about Effect.AI and it's working, consider visiting the following links.
- Effecte.AI Website
- Effect.AI Whitepaper
- Effect.AI Light paper
- Effect.AI YouTube
- Effect.AI medium
- Effect.AI Facebook
- Effect.AI Twitter
- Effect.AI Telegram
- Effect.AI review/Explanation Video
Images courtesey : Effect.AI
I wrote this article as part of the writing contest conducted by @originalworks . You can see the details of this contest here
effect.ai2018
Bro AI change the world.
AI only make man lazy. I know the positive effect of Technology but more negative effect would be seen soon after adopted it.
It has already been adopted..And it has become an essential part of our day to day lives too!
AI will be helpful in many ways to himanity if used rightly!
Submitted.
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Great piece of work.
I've heard about effect.ie and I would also love to hear what do you think about DBC (Deepbrain Chain) and Singularity. How those two look comparing to effect.ie in your opinion?
Im personally quite bullish on DBC (mostly because DBC is related to NEO) and I hope to hear what do you think about this coin.
I will be following you closely.
One more time: great piece of work