“Whether we are based on carbon or on silicon makes no fundamental difference; we should each be treated with appropriate respect.”
There is no better opening statement than to quote Sir Arthur Charles Clarke, the great mind that gave us 2001 — A Space Odyssey. It all started with a general fantasy of extraterrestrial life. Only to find out that reality is sometimes stranger than fiction. It looks like the human conquest of a better earth has led us down the path of Artificial Intelligence.
What is AI(Artificial Intelligence)?
Artificial Intelligence or AI is the simulation of human intelligence processes by machines, especially computer systems. These processes include learning (the acquisition of information and rules for using the information), reasoning (using the rules to reach approximate or definite conclusions), and self-correction. Particular applications of AI include expert systems, speech recognition and machine vision.
Computing brought an answer of its own, with machines constantly surpassing us in many tasks. I personally recall the historic “Deep Blue versus Garry Kasparov” first chess game on February 10, 1996. The heartless machine defeated one of the greatest minds alive in a game that deeply relies on intuition, mental strength, personality, and strategy — typically human traits. Yet the answer is loud and clear: humans ought to choose their battles.
A few years down the path, AI markets are beating all records of growth. Expected to expand to $10.5 Trillion by 2020 (Statista — Revenues from the artificial intelligence (AI) market worldwide), AI is disrupting most aspects of life on earth. It’s upgrading commerce, healthcare, transportation and even criminology. It’s not a contender in a chess game anymore. It’s an ally of silicon and steel with a soul anchored in algorithms and big data for blood.
WHAT ARE THE USES FOR AI?
AI is ubiquitous today, used to recommend what you should buy next online, to understand what you say to virtual assistants such as Amazon’s Alexa and Apple’s Siri, to recognise who and what is in a photo, to spot spam, or detect credit card fraud.
Current Situation And Problems With AI:
Although there is great potential, AI still has a long way to go to address more complex actions such as hand-eye coordination, artwork and artisanal activities, or creative actions. We are only in the early stages of this technology and the new potential of the AI will bring more changes expected.
Due to the potential of artificial intelligence too attractive, this field has attracted the attention of many investors and large corporations(Google, Microsoft ,Amazon) over the years. The market is constantly growing and is expected to reach about $ 60 billion by 2025, according to Statista.
This is a problem because only a handful of large corporations are developing AI and behind closed doors leaving the futures most defining technology in their control.
What’s the Solution?
Effect.AI is the solution. Effect.AI proposes a private, decentralized ecosystem for AI development and AI related services called The Effect Network. This network is designed to provide an alternative to services like Amazon Mechanical Turk, Fiverr, OneSpace and Guru.
What is Effect.AI ?
Effect.AI is a Decentralized Network for Artificial Intelligence. An open, decentralized network that provides services in the Artificial Intelligence market.
The network replaces several existing services and requires no fees, has a low barrier of entry and provides fast growth of the industry. This is accomplished by three platforms that run on the NEO blockchain and are fueled by a network token called AIX. The first platform is a marketplace for tasks that require human intelli- gence. It allows anyone in the world to perform tasks for a fair payment and gives businesses access to a large workforce of human intelligence. The second platform is a decentralized registry of AI services described by a rich ontology. On this platform any algorithm can be accessed as a service in a unified manner and has a convenient way to receive payment. The last platform provides a decentralized, distributed computational platform that can run popular deep learning frameworks. The effect of this network will define the future relationship between humans and AI.
There will be three different phases of the project:
Phase 1 — Effect Mechanical Turk
The Effect Mechanical Turk (EMT) operates as a decentralized alternative to Amazone’s MT. It’s a marketplace for tasks that require human intelligence, like identifying objects in photos, transcribing video/audio recordings or performing data de-duplication.
EMT will bridge requester and workers while regulating task completion through smart contracts.
Using the EMT, workers will be compensated using the Effect’s proprietary token (called AIX in the whitepaper, EFX in the lightpaper) on a peer-to-peer basis. Implications are to boost the token’s liquidity and overall value while cutting all third-party fees from tasks. It’s worth mentioning that such fees vary between 20% to 40% in existing HIT centralized marketplaces.
Phase 2 — Decentralized AI exchange
This is the projected marketplace for AI algorithms. In a nutshell, service providers can trade their AI knowhow for usage fees specified in form of EFX tokens. Users, on the other hand, will be granted authorizations registered on a blockchain to grant them access to the specified AI algorithm.
Phase 3 — Decentralized AI Algorithms
The final deployment phase will be integrating all the algorithms to the NEO Blockchain. This will grant the project a global scalability and tends to eliminate points of failure. Hence, computation will be distributed. The Network will be based on deep-learning networks such as Caffe, MXNet, and Tensorflow.
Opportunities And Conclusion:
A lot of Human Intelligence Tasks can be performed by people without specialized skills. Therefore, even the unbanked in any countries can work on The Effect Network whereas they cannot become a worker on other centralized platforms because they don’t have a way to receive compensation.
According to the team’s projection, workers on The Effect Network can earn $9/hour on average while they can only earn $2/hour on current centralized platforms.
The project is ambitious but is a logical progress. The transition from phase 1 to 3 makes sense and each phase builds on top of the previous one. EFX tokens should have plenty of usage even when only phase 1 is launched.
20% of total token supply is locked up for 18 months for the purpose of a future token sale. This is a positive sign as it shows that the team
(1) has incentive to make progress and keep token price high,
(2) has a long-term commitment to the project.
The project has a lot of potential even with just the first phase completed. By eliminating the middleman, workers can earn substantially more and receive payments instantly with the use of cryptocurrency. If successful, this project can provide lots of real-world benefits which we very much support.
Excited to Learn More About the Project
Visit : http://www.effect.ai/
Talk with Team : https://t.me/effectai
Announcement : https://bitcointalk.org/index.php?topic=2737469.0
PUBLISHED BY
NEERAJ PODDAR
Profile : https://bitcointalk.org/index.php?action=profile;u=1464622;sa=summary
Address : AY6qbJiaZa8Fuiq3dbmAMbuNwNMY6BPg9F