Have you ever heard about Artificial Intelligence?
Yes. it will be a game-changing technology, in fact, it is being used rapidly in today's world. A simple use-case of AI could be the self-driven car which collects the data from the internet, saves it in memory and follows the navigation according to the data.
How AI works?
Look at this video, Sophia is a humanoid and she uses AI to answer questions of the interviewer. In the back-end, the humanoid comprehends a question, saves it in the memory searched for the best appropriate answer on the disk/network of the disk and answers that to the interviewer.
That means a lot of data is used in this process and computers need to act very fast to look at most accurate answers.
Much like Sophia, the robots in future will be using artificial intelligence to answer and complete the task based on huge amount of data, we today have on servers like Google, Facebook or Quora. If emerging companies need to use the data for testing their technology, they would be needed to pay a huge amount of money to the pioneers in the industry.
Please note: AI Technology is the emerging market which is set to break 60000 million dollars by 2025. We have started using the AI already in our daily lives with Siri (Apple I phone) and Google Voice. In future, AI will used in almost every field one could think of.
That's where Effect.AI comes in-
The data collected by Google, quora or fFcebook isn't their own data, it's users data accumulated over a period of time which is resting on servers of such organisation. Effect.AI is trying to break the monopoly of the established organisation by creating a unique business model which pays the contributors for finishing few tasks. The data collected get stored in blockchain which could be accessed by growing future companies working in AI for a little revenue.
How will it work?
They are working on three phases, I will try to brief them up -
Phase 1: Effect Force or M turn - It's where the contributors get paid. The companies trying to use data for experimentation put a task among the contributors (human intelligence), contributors get paid by Effect.AI (Galaxy Pool much like Reward Pool that we have on STEEMIT). The data gets stored in blockchain which could be used by many startup companies venturing into the AI, hence effect.ai lowers the entry level barrier for emerging AI tech companies.
Phase 2: Effect market - The companies developing AI technology will look for a market trying to sell few the algorithm developed by them to other companies, Effect.ai will develop Open-source market around the network.
Phase 3: The last phase will provide the decentralised, distributated computational platform for deep learning using partnerships.
Coming back to how you get paid?
There will requestors trying to develop algorithm around the data set, they would need human intelligence to solve certain task to run the algorithm.
The users/workers, on the other hand, may search for ssuitable task and get paid for completing them.
The task could be image classification, transcribing audio or labelling. Simple isn't it?
Effect.ai had their ICO in March and will soon be launching the first phase i.e Effect Power. You could be the part of few early contributors of Effect Power.
For more information about the project, you may visit their website Effect.ai. I find it well explanatory and detailed.
You may also join their telegram group and community here
Github - https://github.com/effectai
Reddit - https://reddit.com/r/effectai
Medium - https://medium.com/@effectai
Telegram - https://t.me/effectai
Facebook - https://facebook.com/effectai
Twitter - https://twitter.com/effectaix