The world we live in today has become ‘A Global Village’

source

Cisco (a computer networking company) estimates that by 2020, they will be about 50 billion things (i.e. people, object, animals, etc.) connected to the internet and exchanging information with each other.

Facebook presently has over 2 billion users generating data on a daily basis, with almost half of the world’s population online each day.

The core components of Information and Communication Technology (ICT) are data and information. Without these, ICT would have nothing to affect information exchange. A Computer is just mediums to facilitate the generation, analysis, processing, transmission, transforming and representation of that data or information.

Data are raw facts e.g. "Adam, Smith, 1145 Circle, SLC, UT, 74084, 8015553211".

Data is meaningless on its own. But information makes sense to the end user when it’s analyzed e.g. The erstwhile data could make better sense when presented thus:

Adam Smith
1145 Circle
Salt Lake City, UT 74084
(801) 555-3211

The above is an 'address' information.

Information and Communication Technology (ICT) has herald artificial intelligence which is data dependent, ‘A top 10 technology’ search would feature AI and blockchain on almost every search engine. The year 2017 was tagged the ‘year of intelligence’.

Artificial Intelligence holds vast potentials. It is the one sector/industry that can be interwoven in every sector/industry. AI has the potential to create new industries as well as remove or augment existing ones.

Did you know that the factory worker jobs are slowly becoming non-existent? Robots now do the assembling of cars and factor parts.

Soon, cashiers will be replaced, and so will be doctors, teachers, analysts, construction workers, farmers, the list goes on and on.

Check https://willrobotstakemyjob.com/ to see if your career will survive the robot revolution.

Although AI has this downside of putting people out of work, on the other hand, it enhances the work process and results. Computers (i.e. machines etc.) are faster, stronger, nearly indestructible, never get tired and don't have to be paid. These advantages can be seen in many areas. Rapid advancement in technology and other areas is because computers are progressively getting better and faster at analyzing and Processing old and new information to produce results.

Effect Network powered by NEO is leveraging on the blockchain (another trending 21st-century technology) to harness the data generated worldwide for its artificial intelligence project. This is going to build the biggest digital Nervous system in the history of mankind.

Data processing has been on-going for a while now with the likes GitHub (for collaborating on software projects), Google Drive (for collaborating on documents), Trello, Pivotal Tracker (for collaboration on projects with clients), Free Conference Call (for meetings or lectures), Google Hangouts (for meetings or lectures), Slack (for remote work), these services have a huge bank of data already saved which could be tapped into by effect.ai

According to the blueprint, the project would be in three phases.
source

PHASE 1

This is known as the mechanical Turk which aims at providing a decentralized work center for humans with great intelligence. Humans who would help in generating data for the effect.Ai project via their work center would be rewarded with an EFX token. This phase would enhance the growth of users and data generation in the long run.

PHASE 2

This is the smart Market idea, the idea is aimed at providing a decentralized market where people would buy and sell Ai related services. This would finally make AI services available in the market for trading.

PHASE 3.

This is the power phase where surplus power would be channeled to a global supercomputer needed to run the advanced AI algorithm. The digital nervous system I referred to earlier.

source

The mechanical Turk Phase is an important aspect of the phases because it synchronizes with the human intelligence providing employment opportunities for the jobless humans. According to the white paper, micro tasks which require human intelligence called -Human Intelligence Tasks (HITS) could be requested at any time on the platform. This will create an employment opportunity for the competent ‘workers’ by the ‘requesters’. When such HITs are completed, a payment would be made in cryptographic EFX tokens to the workers.

Let’s look at the advantage of these phases:

• When requesters (people or companies) get the results of the HITS, they can channel their efforts into the project they had in mind and they are able to meet the need they had to solve.

• The HIT model would help to harness ‘the human intelligence ability’ to perfect the machine intelligence in a synergistic way, leading to a higher standard of living of mankind in the long run.

• The HIT model would promote trade between requesters and workers as already discussed.

• HIT model would stimulate the development of technology and encourage requesters to embark on new research and make new inventions.

• Time is saved, the effect.ai phases would help to reduce the length of time required in generating an algorithm for a task, and this time could be harnessed into other profitable ventures.

The Banking sector has witnessed a tremendous improvement in the past decade. Banking has been made smart with technology; the once crowded banking hall is now empty. This is because customers can do their banking transactions in the comfort of their homes with a banking app which uses the same banking interphase for the transaction.

With Conversational Platforms on the increase daily, businesses now have 'bot' (robots) handling customer care for them, which helps them to save time and cost. Bots can mimic a human having a conversation. (You can have 'code' talk with your customer while you are away.)

The era of artificial intelligence already looks promising with Effect.Ai on the blockchain.

To get a summary about them, you can watch this short video clip to get started

References

Effect.ai website

effect.ai white paper

Effect.ai light paper

Effect.ai telegram

Effect.ai youtube videos

Effect.ai facebook

Effect.ai twitter

@originalcontest link to participate
effect2018