This is a more lengthy article but I felt as if I had to do as to do the project some justice and really fill in the gapss of where this company is going. If you do not care to read this whole rambling feel free to skip to the end where I have linked all relevant info of what they have accomplished and where they are going. Enjoy! Because if you are here reading this then you must be as passionate about blockchain and what it can do as I am.
So as of recent Artificial Intelligence and blockchain have really started to gain momentum in the mainstream environment throughout the world. Both these technologies have been around for some time now. Why is it only now these technologies have begun to get noticed. Blockchain has been the most recent being around for about 10 years now since the release of Bitcoin in January of 2009. https://en.wikipedia.org/wiki/Satoshi_Nakamoto AI waxs formally founded in 1956 at Dartmouth College in Hanaover, New Hampshire. https://www.livescience.com/49007-history-of-artificial-intelligence.html With the advancements in technology and computational power technology has been evolving at an exponential rate. Even recently President Donald J. Trump signed an Executive Order to set in motion the Unites States initiative to embrace and explore AI and its uses within the country. Other countries have also accelerated their AI development in the hopes of being a world leader in artificial intelligence. This competition among countries have sparked a worldwide AI "Space Race" similar to the space race of the 60's.
Now what does it take to create or train AI? Data... Lots and lots of data. Just not any data though. This data has to be refined and labeled and categorized and put into data sets. Believe it or not creating the algorithms for machine learning and AI is the easy part. The hard part is finding enough suitable labeled and curated data to feed to these algorithms. With an estimated 2.7 Zettabytes of data within our digital universe why is this so hard then?
https://www.nodegraph.se/big-data-facts/ For the past 10 years AI has been pretty stagnant due to the fact that there just was not enough suitable data to progress this field in the way it should have been. That along with the extremely isolated ways that AI developers tend to do their research and develop their algorithms. There is not a lot of sharing among the AI field.
In steps Effect.AI. This blockchain startup is in the business of disrupting current AI development models by providing a network that will facilitate in the decentralized development of AI. The CEO Chris Dawe is a business savvy leader who has the drive and vision and most importantly the brilliant tech team working for him to prove the real world use and ability to fix current problems in the world. He is an avid proponent of #blockchainforgood. .Effect.AI will launch in 3 distinct phases. Phase1 is the Effect Force. This phase is all about the labeling and preparing of raw data so that the machine learning algorithms can learn the intended information and problem solving for that specific task. Now you may ask, why does crowd sourcing and data labeling need blockchain? It's a well known fact that Amazon's Mturk crowd sourcing platform has produced some of the most underwhelming data sets for Ai in the past decade. It is not a coincidence that the stagnation of AI and the poor datasets that Amazon creates through its platform have happened at the same time. Creating and cleaning data to make data sets takes up to 80% of a data scientists time when preparing for machine learning and algorithm creation. https://hbr.org/2018/04/if-your-data-is-bad-your-machine-learning-tools-are-useless Bad data can lead to many hardships and pitfalls in machine learning and AI. Effect.Ai's Effect Force platform will be qualifying their workers through test sets to ensure they are eligible and able to perform certain tasks. The Effect Force workers will also be paid 100% of whatever a requester is paying to have his data cleaned and labeled on the Network. The network does not take any money for themselves. These tasks that the Effect Force workers will be completing will be paid out immediately through smart contracts on the blockchain once the quality of work is confirmed. Amazon takes upwards of 40-50% fee and pays their workers an averaged under 2USD per hour and high performance workers only averaged 6 USD per hour when the average rate a requester pays to amazon is anywhere from 8-11 USD per hour. Many workers make far less than that. It is important to note that even for these workers to average this amount scripts and bots have to be used tconduct the work which leads to bad data and the workers providing faulty data. https://arxiv.org/ftp/arxiv/papers/1712/1712.05796.pdf
There are currently over 2000 registered Effect Force workers from over 30 countries working on tasks from various requests. The blockchain is allowing instant payment through the NEO network to these workers. All earned funds through their work on the Effect Network are send directly to their own private wallet on the platform that they can withdraw at anytime. Some workers in countries outside the U.S on Amazons platform take months sometimes for their checks to arrive as they do not have bank accounts. Blockchain is allowing the payment to unbanked workers regardless of region or country. The average wage on the Effect Force is estimated to be 8-11 USD per hour because the Network does not take any of the funds for themselves. EFX, the ticker for Effect.Ai is the blood of the network. This token is what is used to purchase and pay on The Effect Network. This token will be moved back and forth from requestors to workers to the Gpool and back around again.
As you can see the utilization of blockchain to facilitate AI development in a decentralized environment can be extremely beneficial to both requestors and the workers. As long as workers provide the quality work the requestors will authorize the contract payout. This is only Phase 1 which is all about the data. There will be a never ending stream of data that well always need to be labeled and refined. Which takes us to Phase2. The Effect AI Smart Market is a decentralized platform where people can offer and buy AI services. This phase is a natural progression of the network. It will be an open marketplace for offering AI and machine learning algorithms as a service. This marketplace is where AI developers with functional algorithms can sell, rent, or give out its service for a simple and easy payment with the EFX token. Each algorithm will have its own wallet to allow for easy acceptance of transactions. The Effect AI Smart Market also allows algorithms to communicate and collaborate with other algorithms and purchase services from each other. For too long big business has maintained a strangle hold on this developing tech and using it just to make them even richer and burying their competitors while maintaining their monopoly. All these algorithms can be purchased through the Effect Network with the native token EFX. The last phase is Effect Power. This is a project similar to Golem if you are familiar with it. It will provide a decentralized, distributed computational platform that will run popular deep learning frameworks. The Effect decentralized compute engine is based on frameworks like Caffe, MXNet and TensorFlow. We want to distribute the computational power of all AI so there is no single point of weakness. We can do this through partnerships with projects like Golem, or through creating the framework ourselves.
In conclusion Effect.AI is poised to really become an industry leader in the facilitation of the creation of artificial intelligence. The Bear Market has not slowed them down at all and have been doing what any successful company does during this time is build, and building they have been doing, and doing it well. Effect.AI has a great community of members that are extremely passionate about this project for reasons other than personal gain. I have never seen a community so focused and supporting of this building process during the low times in markets. There have been some problems along the way though. The NEO chain could not fully support the sheer volume of transactions that EFX was creating when the workers were conducting their jobs and annotating data. Many times the NEO chain became clogged and congested slowing down the payments by task and sluggish interaction. There have been some speculations and reports that EFX could possibly be migrating to the EOS chain and going the ERC20 route. From the beginning EFX was created to be blockchain agnostic. I think a migration to EOS would be a great move as EOS has the funding and backing to create a high TX/s chain that will be able to fully support the massive volume of transactions that will be created when EFX goes full swing. This would be great timing and a tactical move by CEO Chris Dawe to get migrated as soon as possible and get re-established on EOS to prepare for the coming Bull run.
Effect (https://switcheo.exchange/markets/EFX_NEO).AI is building The Effect Network; an Open, Decentralized and Democratic Network for Artificial Intelligence Development. The Network unfolds in 3 overlapping phases:
Phase 1; Effect Force (https://force.effect.ai/) A Decentralized Mechanical Turk (Build your algorithm)
Phase 2: Effect Smart Market An app store for Algorithms and AI related services (monetize your Algorithm)
Phase 3: Effect Power A global Super computer of Distributed compute (power your Algorithm)
⚡️The Effect.AI January Newsletter
(https://medium.com/@effectai/effect-ai-january-update-a81864807)Next Newsletter February 21st
⚡️EFX: The digital asset to power a Decentralized AI ecosystem.
Use cases and features of the EFX token:
- Reward or receive EFX on Effect Force
- Use EFX to exchange AI services in the Effect Smart Market
- Power your AI with EFX on Effect Power
- Earn EFX for your extra CPU
- Use EFX to vote on TEN
- Stake EFX to earn Network fees
- Become an Effect Ambassador and earn EFX
- Deploy you dApp using EFX
🤣Fun facts🤔
- EFX has the most transactions on the NEO blockchain with the mass majority of transactions coming from Effect Force related micro-task payouts Check it out
(https://neoscan.io/assets/1)2) Effect Force has over 2000 registered workers in its WorkForce Join the Force
(https://force.effect.ai/)3) There are 48 TEAM (The Effect Ambassadors Movement) members from over 30 countries representing the project Learn more (https://medium.com/@effectai/effect-ambassadors-program-6cc3e1c26fb8) or Join the TEAM
(http://effect.ai/)4) Effect.AI is running a pilot program with the United Nations in the country of Georgia Find out more
(https://medium.com/@effectai/effect-ai-january-update-a81864807)5) CEO Chris Dawe has very little to no experience on Twitter and has recently joined… Help him out by following him and coach him along @ChrisEffectAI1 (https://twitter.com/ChrisEffectAI1) 😉
📣2019 Roadmap📣
⚡️Effect Smart Market private Alpha Q1
🚀Effect Council and Guardians announced Q1
⚡️1st Effect Social Impact HUB (Georgia) Q2
🚀Curated proof Staking opens Q2
⚡️Effect Force & Smart Market Referral Program Q2
🚀Token protocol migration Q2
⚡️Integration of Galaxy Pool Q3
🚀TEN Dashboard wallet Q?
⚡️1st annual Force & Smart Market Hackathon Q4
🛫Here, There and Everywhere | Meet the team🛬
Nakamoto’s Den (https://nakamotosden.com/) | Cyprus, February 19–20
4YFN (https://www.4yfn.com/) | Barcelona, February 25-28
TNW (https://thenextweb.com/conference/) | Amsterdam, May 9-10
📽Video Content📹
Effect.AI on CNBC’s Advancements
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(https://www.facebook.com/welovedevs/videos/570268920093115/)Effect.AI Links
Effect.AI website
(https://effect.ai/)Effect Force website
(https://force.effect.ai/)Twitter
(https://twitter.com/effectaix)Facebook
(https://facebook.com/effectai)Medium (https://medium.com/@effectai)
Reddit
(https://reddit.com/r/effectai)LinkedIn
(https://www.linkedin.com/company/effectai/)Github
(https://github.com/effectai)Bitcoin Talk
(https://bitcointalk.org/index.php?topic=2737469.0)Buy EFX
Bitmart
(https://www.bitmart.com/trade/en?symbol=EFX_BTC)LAToken
(https://wallet.latoken.com/exchange/ETH-EFX)Switcheo
(https://switcheo.exchange/markets/EFX_NEO)Effect.AI Founders
@ChrisEffectAI - Chris Dawe (CEO)
@JesseEffectAI - Jesse Eisses (CTO)
@LaurensEffectAI - Laurens Verspeek (CSO)
Group Admins
@JehudahEffectAI