THE EFFECT NETWORK: EXPLOITING THE AI REVOLUTION FOR ALL.

Image Source

Most often than not, when people hear the term Artificial Intelligence (AI), the first picture that comes to mind is a robot designed to look and act like humans. Come to think of it, can you really blame them? In my opinion, the chunk of Science Fiction Movies out there haven't accurately presented the concept of AI to the masses. Artificial Intelligence encompasses but not limited to androids. Allow me to put it simply, there are some tasks like recognizing speeches, making decisions, translation between languages, learning from experiences and manipulation of objects that normally require human intelligence to be properly executed. Now, the idea and development of computer systems with the capability to do these things is referred to as AI. The concept of AI goes way back. In 1956, AI was officially introduced as an academic discipline, but even before then, the concept had been illustrated mainly as storytelling devices in antiquity.

AI might seem a little far-fetched to many but you would be surprise to know that you are probably already using them. In fact, AI impacts our every day lives significantly, whether or not we know it. If you have ever used Siri, Google Now or more recently, Cortana (developed by Microsoft and integrated into Windows), then you most likely would have suspected some AI at play. These are intelligent digital personal assistants designed to recognize and respond to voice commands. These apps gather and coordinate user information so as to provide results specifically suitable to various users. Other common everyday applications of AI are seen in video games, smart cars, purchase predictions and more.

Image Source

Ethical Concerns Regarding The Use Of AI And My Take On It.       

In just 2 minutes, a single AI system could execute a task that would otherwise have taken several humans to complete in a week. With this in mind, it is normal that people are concerned about equality and the security of their jobs. Also, as humans, we are not on top of the food chain because of our strength or might. It's simply because of our ability to gather, manipulate and use intelligence. If machines begin to become more capable in this regard, there are those who fear that we may soon wake up to a world in which we are no longer in control.

Despite these and several other concerns, I strongly believe that  AI is the key to the 4th Industrial Revolution. With its ability to quickly and effectively execute tasks, life could be so much easier. So instead of focusing on the unemployment that a self-driving truck may cause for the driver, I am choosing to look at the millions of lives that could be saved from a drastically reduced rate of road traffic accidents. 

Quickly consider these statistics from PwC’s Global Artificial Intelligence Study from last year (2017):

AI could contribute up to $15.7 trillion1 to the global economy in 2030, more than the current output of China and India combined. Of this, $6.6 trillion is likely to come from increased productivity and $9.1 trillion is likely to come from consumption-side effects. 

Apparently, AI is the future. And I would encourage anyone who do not wish to be left behind to join this train. Unfortunately, there are a few obstacles:

Developing apps that utilizes AI requires a lot of Data Processing. In order that AI systems are able to complete tasks that normally would have required human feedback, it is necessary to train it on large data sets. Also, when developing algorithms for AI systems, it should be capable of interacting with other parts of the world outside of the current domain. This is accomplished through what we called Diverging Tasks, which makes things a bit complex. Last but not least, AI development incurs a lot of Computational Cost. High computing power is usually required to perform complex and massive tasks. Due to these challenges, only a few wealthy companies and conglomerates are currently capable of exploiting the AI market. But think of it, why should Humanity's most defining technology be left under the control of just a few wealthy individuals???   

This is where EFFECT.AI comes in. 

EFFECT.AI, under the Effect Network, is a decentralized network for Artificial Intelligence built on blockchain technology which allows users to develop, market and sustain their AIs. It is powered by NEO which enables it to employ the use of smart contracts in the self-management of digital assets. It also uses peer to peer transactions which eliminates the chances of over-charging intermediaries. 

How Does It Work?

The Effect Network arrests the challenges associated with current AI development in just 3 simple overlapping phases:

Phase 1

EFFECT Mechanical Turk: human intelligence is required in the training of AI algorithms. The M-Turk is a very convenient decentralized market place which enables users to request or perform various tasks anywhere, anytime and on any device of their choosing. Users who have successfully completed a task get paid with a predetermined amount. 

Consider this, my good friend, James is a very talented developer. For the past 5 years, he has been working with some investors to create a self-driven smart car. James is so close now, but there is one little problem, he needs people to help him develop a system that will enable his car recognize and read street signs across the world. So James goes to the Effect platform and loads his task while assigning a reward in cryptocurrency for a successful completion of the task. Meanwhile, somewhere in Canada, Grace is searching through the same platform and finds that she could easily execute James' task. She quickly gets to it and sends her result to James upon completion. James is satisfied and confirms this and Grace is instantly paid the amount that was promised. Everyone goes home happy. So you see, it's that simple.

Image Source

Phase 2
EFFECT Smart Market: the Effect platform doesn't just assist you to develop an algorithm and leave you hanging. The smart market serves as a decentralized exchange platform on which users can offer and buy functional algorithms. 

So, assuming that my friend James was able to successfully complete his algorithm with help from Grace. He would now have the options of selling, renting or giving out the services of his work for a rather simple and easy payment with the Effect token. All he would need to do will be to create a wallet for his algorithm.

Phase 3

EFFECT Power: as I have previously alluded, AI requires high computing power to help process the large amount of data used in its analysis. The Effect Power achieves this by pulling spare computing power from different sources to create a super computer in order to run advanced AI algorithms. The good news is that, since this is a decentralized power bank, a failure in one will not significantly affect the entire system. 

If for example, my friend James, as cited in the above examples, decided to rent his algorithm and as part of his services, were to provide the computing power necessary to run it, then Effect Power provides him with a reliable and stable computing power.  

Additional Benefits Of EFFECT.AI 

• There's the introduction of the Effect token (EFX) which can be sold for native tokens.
• The platform has what is known as the Effect Reputation Score. Users are awarded a score based on the quality of the work they have done. This serves as a filter to choose reliable users for a given task.
• While the platform is governed by an Effect council that sees to the maintenance and growth of the network, users may submit improvement proposals which can be reviewed and implemented. 
• Blockcain based platforms are naturally opened and lucks privacy. The EFFECT.AI allows users to send data sets in encrypted form, enabling only selected users to access this data. User ratings are also made visible to only the owner of the task.

Conclusion

Artificial Intelligence (AI) is the future. If strategic investments are made in appropriate AI technologies, the GDP potential of the entire global economy could be significantly transformed. Whether we know it or not, AI is and will continue to serve millions of people daily. Luckily, the Effect Network is here to ensure that the unlimited benefits embedded in this AI revolution is not confined to only a selected few. With EFFECT.AI, you and I finally have the opportunity to contribute in the development of AI and get paid while we are at it. What more could we ask for?

Below are, among others, the competent team behind this great idea:  

 You may also like: 

• Effect.AI Website
• Effect.AI WhitePaper
• Effect.AI LightPaper
• Effect.AI YouTube
• Effect.AI Medium
• Effect.AI Facebook
• Effect.AI Twitter
• Effect.AI Telegram

This Article was submitted to @OriginalWorks Sponsered Writing Contest. 

Feel free to Participate Here.

effect.ai2018