Effect.AI seeks to decentralize the AI industry and allow their target audience of small-scale developers, and small businesses to have access to the technological advancements in Artificial Intelligence at a lower cost. The main issue Effect.AI will combat is the closed-door” system of AI development currently in place. The fierce competition derived from our economic system is the driving force behind advancements in our society, but it can also lead to stagnation in development and growth. The decentralized model promotes an ecosystem of collaboration which can exponentially advance the technology. The timeless saying “two heads are better than one” could not ring truer here.
Effect.AI believes The Artificial Intelligence industry is on a trajectory to quickly become the most important industry in the global market, estimated by Effect.AI, to reach a $15.7 Trillion Market size by the year 2030.
Phase 1 of Effect’s project is to create an online Mechanical Turk. A Mechanical Turk is a sort of “on-demand” human work force that users can access and hire from to help with intermittent tasks that require a temporary crew or individual. This job marketplace lowers the overhead associated with hiring and managing a temporary task force and allows the employer to pick and choose specialists according to their needs. According to the Effect Network, their M-Turk “will give AI Developers and businesses access to a global workforce of human intelligence to train AI algorithms.” Any tasks that computers cannot currently accomplish will be handled by workers on the Effect Network’s M-Turk. In turn, those workers will be compensated by the Effect Network’s NEP-5 Token called EFX. Mechanical Turks will be a major factor in helping to alleviate human job displacement as we move forward into this new AI Centric economic revolution. the Effect Network’s M-Turk will be a hub for freelance workers to sell their services and employers to access specialized human labor.
Phase 2 is to bring the AI Developments to the M-Turk allowing users to purchase AI services with the EFX tokens.
Phase 3 is to bring a decentralized powering structure to the network. This will allow the complex algorithms necessary to operate AI to be computed globally thus, minimizing the points of failure.
AI Technology is a new frontier and the implications of this technology are not clear. The decentralized nature keeps the advancements in AI technology transparent. And when there are more minds devoted to a project, there are more calculations in regards to potential consequences. The Effect Network will help us guide the project towards the future as safely as possible. A monopoly in AI advancements would be a danger to our society, so it’s important to keep the technology in the hands of those that will take responsibility in growing the technology responsibly.
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