EFFECT.AI : THE DECENTRALIZED NETWORK FOR ARTIFICIAL INTELLIGENT
It has come to their awareness the problems small AI company face. With the lack of computational power and a lot of data training involve, it is easy for private companies such as Google to swiftly monopolize the AI industry. In response to this, Amazon have devised a solution called the Amazon Mechanical Turk (M Turk), a platform where AI developers can source out human workforce to perform simple tasks in exchange of payments. This was indeed a great idea, except the 40% fee taken from requestors and a big delay in payment for the workers.
Effect.AI is an Amsterdam-based project that is working on a decentralized network for Artificial Intelligence and AI related services on the NEO blockchain. It was when Effect.AI announced its plans for the network’s first phase, the Effect Mechanical Turk, that Charlie Shrem became interested in joining the project. Charlie on joining Effect.AI: “It’s been a dream of mine to build a decentralized Mechanical Turk for a long time and I have always felt it was one the best possible use cases for crypto. Effect.AI is working hard to make this dream a reality and I’m very excited to have joined the team.”
FEATURES OF EFFECT.AI
- Accessibility. By directly linking supply and demand through our microtasking platform Effect.AI Mechanical Turk (EMT) will make training AI algorithms easier, faster and cheaper . This will enable users Page 6 Effect Network: Decentralized Network for Artificial Intelligence REV-1.0 who do not have access to a large dataset or a big network to train their AI algorithm.
- Accuracy. The Effect.AI Smart Market (ESM) is an exchange with a rich ontology of specialist AI applications. Individual applications are able to find each other to buy or sell information. Through this exchange, users can use data sets with significantly higher complexities to train their AI algorithms.
- Performance. Users can enrich their existing datasets by purchasing services from algorithms on the ESM , or they can setup a new datasets by creating micro-tasks on the EMT platform . By enabling users to build datasets quickly and accurately they can immediately use these datasets to train AI algorithms.
- Interoperability. By putting the AI algorithms on the blockchain and creating a communication standard to which these AI algorithms have to comply to, we can truly decentralize AI and achieve interoperability between individual AIs . The combination of multiple AI algorithms will result in powerful capabilities and emergent intelligence that no single AI algorithm can achieve on its own.
HOW IT WORKS
The EGP ensures stable exchange rates for users of the network at all times. The pool is not suitable for day traders, as only Galaxy-EFX tokens (G-EFX) can be bought. Any G-EFX bought from the EGP can not be sold back to the EGP. A G-EFX is washed (converted to a regular EFX token) by spending it through an Effect.AI Service Contract (ESC). These are the smart contracts that processs the transactions of tasks and the service registry. This protects the EGP from external manipulation and keeps exchange rates stable for all agents in the network .
In order to break this oligopoly in AI, the team conceptualized Effect AI, a decentralized, open source platform for development of high-level artificial intelligence. The idea to tackle this problem is far from easy and most definitely a good infrastructure is needed. Effect AI has been compared to its numerous competitors but their main advantage, as Jesse and Laurens have both pointed out, is having a vertical structure tackling the problems in AI in 3 phases.
To know more on these phases visit WHITE PAPER
ABOUT ICO AND TOKEN
The Effect.AI Public Token Sale that’s coming up in March (exact date TBA) has a soft cap goal of 4,820,000 euro. The hard cap is set at 14,820,000 euro. Due to overwhelming interest in the project, we expect to hit these targets before the Token Sale’s end date. One of the most important objectives, however, is reaching these goals with the aid of a well-balanced group of reputable participants. This objective informed the way Effect.AI’s Whitelist and KYC (know-your-customer) process is structured.
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