Effect.AI - DECENTRALIZED NETWORK FOR ARTIFICIAL INTELLIGENCE

vishudda (11)in #cryptocurrency • 6 years ago

The Effect Network is an open and decentralized network that offers services in the artificial intelligence market.This network is designed to provide an alternative to services like Amazon Mechanical Turk, Fiverr, OneSpace and Guru.The network completely operates on smart contracts installed on the NEO blockchain. The goal of the effect.ai is to provide all the services necessary for a healthy and accessible artificial intelligence market. The network requires no commissions, has a low barrier to entry, and is split up into three distinct phases as Mechanical Turk, Smart Market, and Effect Network

How the EFFECT AI Network works

Democratization the world of AI development is the main goal of Effect network.A big problem that the Effect Network sees with today’s AI and machine learning industries is centralization of development among a few global corporations. By building a private and decentralized ecosystem, the effect network tries to solve this issue. That ecosystem operates fully on smart contracts deployed on the NEO blockchain.
The Effect Network will be deployed across three phases as below.

Phase 1 - Effect Mechanical Turk

Effect Mechanical Turk is a marketplace for tasks which needs human intelligence. The main difference of the Effect Mechanical Turk from other business models such as Fiverr and Amazonis that this is peer-to-peer, connecting supply and demand more efficiently. The users who request can make tasks called human intelligence tasks which are done by workers in exchange for compensation.

Phase 2 - Smart Market

Thisis a marketplace where algorithms can share their services with users. Owners of applications can register their AI products and price them. These applications are available for everyone on the Smart Market.The users who are looking for a certain AI product need to transfer the necessary funds to the owner to get an authorization token. This token allows users to work with that specified AI.

Phase 3 - Effect Network

Algorithms will run on centralized servers up to until phase 3. The third network phase will place these algorithms on the blockchain. Then they are running on a global scale via the NEO blockchain.

Problems solve by the EFFECT Network

Data Processing Requires Large Amounts of Data and Resources

Intelligent applications complete tasks that usually need human feedback. These applications are trained on big data sets. Obtaining an annotated data set needs lot of time and money. Minor providers simply cannot access this amount of data in today’s ecosystem. That’s why development remains centralized in large corporations.

High Computational Costs

Complex AI systems need knowledge from all around the world which equals more data than any one company can collect. For example, a driving car needs to learn to recognize international road signs that you won’t see on the streets of San Francisco.

High Fees on Existing Mechanical Turk Platforms

Effect.ai aims to compete with Amazon’s mechanical turk platform. While Amazon charges fees of 20 percent to 40 percent from requesters, Effect.ai charges a fee of less than 1.3 percent from them and also they believe that they can offer an average hourly rate of $7.40 per hour for their workers.