Effect.AI is a decentralized platform for an industry that grew by more than 60% in 2016. ‘Black box’ isolation syndrome is a primary objective the Effect.AI Network aims to solve. It aims to change the course of AI that is presently in danger of becoming an anonymous ‘black box” to all but a few corporations. The Effect Network would make AI transparent and accessible through smart contracts on the NEO blockchain. An EFX utility token would run the system.
adapted from Effect.AI
Artificial Intelligence (AI) vs. Machine Learning (ML)
Before examining the Effect.AI white paper, it is helpful to grasp the difference between AI and ML. Forbes Magazine and Wired looked at the nuances between AI and ML. The simplest distinction is that AI is a broader concept. It is a branch of computer science. ML, on the other hand, is specific in its agenda. It supports unencumbered determination. According to Stanford University, ML concerns itself with computer actions that need not be absolutely programmed. Generally, artificial intelligence is a broad approach for using machines to accomplish sophisticated tasks. Machine learning involves current applications of AI, but with the emphasis on enabling data access for the purpose of unencumbered, automated determination.
Development Highlights
The white paper begins by stating that the rapid growth of AI has been accompanied by increasingly inaccessible platforms. It offers a solution that allows anyone anywhere to access any service driven algorithm over the Effect Network. But, the developers are not satisfied with a workable solution they know has value in the present economic state of affairs. Rather, they go on to explore the relationship between humans and AI.
Before overviewing the plan, here are a few highlights of what the Effect.AI Network offers:
- The Effect Network Mechanical Turk (EMT) compares very favorably to Amazon’s M-Turk. It estimates a more than four-fold increase in hourly income for workers. This would raise M-Turk wages from $2 to $9.
- An Effect Reputation Score helps keep malicious persons at bay while rewarding honest efforts. Developers deemed it be best employed as a linear function given its present system dynamics.
The Plan
According to the developers’ vision, there are three planned phases needed to meet the needs of the AI industry now and in the future. Phase 1, Effect M-Turk, is oriented for the now. It would provide an AI system suitable for what the world struggles with today. In Phase 2, Effect Smart Market, empowering consumers is compounded by AI/ML innovation. Phase 3, Effect Power, addresses the inevitable need for power as the system grows.
Phase 1: Effect M-Turk
One great selling point for EMT is that more money goes into the pockets of workers and project requestors. It simply costs less to complete projects. Additionally, middlemen who add nothing will have less influence over the free market. These aspects support the passage:
- The hardworking farmer should be the first to receive a share of the crops.- 2 Timothy 2:6 NIV.
Also, when taken together, these aspects compound each other’s efforts to support continued development. Richer workers mean an increase in available money for consumer spending. Lower project costs encourage new enterprises. Diminishing the influence of middlemen who lack a vested interest enables the market, as well as regulators, to more positively impact supply and demand.
Here is an example with some specifics:
- Requesters have the option to assign EFX tokens for each task. An accessible EMT platform compliments this system by allowing requesters to view unbiased and unencumbered results. And remember that algorithms are made accessible. This broadens the choices requester have.
Phase 2: Effect Smart Market
Experts and business interests alike believe the potential for AI applications are enormous. However, innovations in this industry are not yet predictable with a high degree of confidence. Phase 2 serves to further compound applications by incorporating an application registry and endpoints. The registry allows applications to collaborate. Endpoints advance the management of services and algorithms. Implementing the Effect Smart Market connects the AI industry within an efficiently managed ecosystem. This makes it more ready to deal with a future where, all that is certain, is growth.
Phase 3: Effect Power
One force that could stop an AI blockchain is the lack of a good support structure. Phase 3 plans on delivering the necessary power to run a system expected to grow exponentially.
The Effect.AI Galaxy Pool (EGP) is a way to ensure stable exchange rates. Its rules can be refined for governance as the system grows. The linear function guiding the reputation system differs from the G-EFX function used to power Effect.AI Service Contracts (ESC) (smart contracts). G-EFX protocols decay at a rate exceeding 90% by the forth NEO block to prevent requester overflow. This is not a hard point, but rather, an illustration within the white paper. Phase 3 is further down the line. However, it demonstrates the power many people believe AI will command.
AI/ML Applications in Use Today
Most people do not know that AI is integral to products they use everyday. For instance, Microsoft promotes a full spectrum of products, tools, services, and solutions for everyday users, developers and organizations. Cortana is an example of a highly identifiable product.
Similarly, Thomson Reuters markets its information services to match the transformation being driven by AI/ML. Applications are in social media, news, legal, transportation (especially smart cars), accounting, taxes, wealth management, and more. It already tracks 700 million daily tweets running ML algorithms to add to their news stream.
The Future of AI
According to Thomson Reuters, teaching machines to be adaptable to content is one of the most important developments needed to advance AI. Teaching is one of the great strengths of the Effect Network. It is also worthwhile to note here how a decentralized platform differs. It is, by necessity, less biased than a centralized system that is viewed from the outside (like a "black box") by almost the entirety of the population.
The future of AI is bright, to say the least. Some estimate the AI market at $15.7 trillion by 2030. It is already profoundly impacting human life. This is not limited to telecommunications. Probably most notable is the transportation industry advancements in AI for smart cars. The AI in cars is a leap beyond what made Siri popular.
Once the general population grasps how AI is ingraining itself as an inescapable part of everyday living, they will begin to pay more attention to the underlying technology. The Effect.AI Network provides an ecosystem that is not only timely in its transparency, but also inherently adaptable.
AI might be capable of surviving without maintenance from the human race. Some doomsdayers focus on this future. Though, it might just turn into a novel tool. Maybe another innovation comes along because it failed to adapt to the needs of everyday living. Effect.AI presents an opportunity to both streamline AI now and maximize its future potential.
The Effect.AI token sale is set for March 24. You can find the whitepaper here and the lightpaper here.
Here is a link to @originalworks / @effectai post:
effect.ai2018
Big data and AI definately going to shape our future, every big corporations are invested heavily in it now. I think Effect AI will attract a lot interest in their business plan plus a great team.
Blockchain taking over Big Data would mean no more inquiring into Google and Facebook about how they use our personal information. Well, at least, new information.
That was a nice read. So brief but the idea is pack into the article. Hoping to see more interesting article from the Effect AI community.
Thanks. Yeah I am pro Effect.AI. A M-Turk would mean (significant) money in my pocket now and a platform that would help me start a small business. Get so many good ideas:)
Really seems like they want a community-centric platform.
Many services will soon anyway be associated with AI: commercial transactions, Finance, logistics, etc. It will bring about changes not only in economy but also in the everyday life of ordinary people.
Agreed. Some people believe, before this year ends, the would will grow conscious of AI as not just a novelty.
A decentralized platform that ties blockchain and AI. A platform that offers solution to access any service driven algorithm
Yes. I wonder who is exploring the differences between AI data management via centralized Big Data vs. decentralized blockchains.
Congrats sir!
Love how you explicitly dissected the whitepaper!
🤗🤗
Thanks:)
Reading the litepaper first help a lot.
It was like having a PowerPoint presentation overview key facts to a 50 page thesis. I could then dive into specifics that supported my article's main objectives.
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A very well thought out project, one thing I really love is that they have considered factors of the future as well. To be successful in this space is to be able to abopt quite fast, which I believe effect.ai will be able to achieve.
Thanks. An open ended future indeed. One that governments discuss.
Wow, what an incisive piece. You really cut to the heart of their project! The stuff on black box isolation syndrome and ML is brilliant. I actually wrote a thing on Effect.AI myself too a few weeks ago, and am a big fan generally - but it pales in comparison to this. Will be following you from now on, and looking forward to reading more of your output!
Much thanks. Good name given your interests:)
Something is telling me that blockchain is good for AI. Almost as if a future AI, said heck to negotiating with monopolies, and went back in time for data quality-control.
See you in time. Hope we are both here when that 'beta' tag gets removed from the upper left corner. Oh yeah and EOS is coming - what, few months before Christmas is the target release, or is it this summer?
Haha, smart move on the part of the time travelling AI. Yeah, here's to being well-established by the time the beta ends. EOS is very exciting ... Need to top up my bags!
Great piece of work.
I've heard about effect.ie and I would also love to hear what do you think about DBC (Deepbrain Chain) and Singularity. How those two look comparing to effect.ie in your opinion?
Im personally quite bullish on DBC (mostly because DBC is related to NEO) and I hope to hear what do you think about this coin.
I will be following you closely.
One more time: great piece of work
I like NEO a lot. Wonder how it and Ethereum will get along after another year or so.
Like Effect.AI, Deep Brain Chain's whitepaper starts off with training AI, so there will be direct competition.
They contrast in the emphasis that DBC places on mining.
I really like the DBC timeline. It is more than an excellent business tool. The timeline shows me that the DBC team keeps a macroscopic focus which is often lost in high speed business and innovation. The team also seems confident in their ability to innovate. Both of these factors are crucial traits for the unpredictable world that AI will create- that is until AI is advanced enough to replace the word 'prediction' with 'probability' in everyday communicae.
Thx for another amazing reply
The way I see it is that NEO will soon control 100% entire Chinese crypto market. I cannot see ETH, LISK, IOTA, EOS or ADA to be able to compete within China with NEO.
Part of me believe that AI market will be so huge, that DBC and other cryptos related to that industry will hardly ever experience any sort of competition. Would you agree with it?
"DBC team keeps a macroscopic focus " -> I dont understand :(
:(((
Could you please explain with more common english ? Like I would be some "blondie"? :)
Cheers mate
Regarding the Chinese situation: I am inclined to agree, but do not feel I know enough about NEO. Most sources I have read look at NEO as a more technical Ethereum. At least as far as where it is heading. I have yet to form my opinion on that.
Regarding macro vs. micro: I almost always use these terms in discussing economics in relative terms. A macroscopic view of the industrial economy would be analyzing the DJIA. A microscopic view could be one important company to the economy, such as, Boeing's impact upon the aviation sector. These are terms I use with a relative persepective. So in a macroeconomic perspective (pertaining to the cryptoverse) I could even say watch out for the tendency of Bitcoin to rise during the holidays, both for the U.S. and China. Many factors are involved. In contrast, while playing on a large field, the tarrif war between China and the US would have a negative microeconomic impact on the two contries (at least in the short-term). While this is going on, it may be that countries like India and those in Europe benefit. Or the rest of the world may just choose to ignore the two having their tiff and form new trade partnerships.
Microeconomics can be really important. Consider going back in time to invest in both Apple and Microsoft and consolidate the two companies, say about 5 years ago. Before them, IBM was discussed as almost a macroeconomic power in itself. Right now a similar situation exists with Amazon. What if Amazon buys Wallmart and Alibaba. Hard to discuss any aspect of the economy where that would not have an influence.
Anyway, TY for the inspiration. God bless.
I absolutely appreciate time and effort that you put to provide me with such a great reply
Thank you.
I strongly believe that many european countries will benefit. Especially once silk road will be already fully operating.
Im Polish (living in Asia) and I consider our country "first civilized country" on the way from China. I see east europe really growing and US will matter less and less within time. They will isolate themself well enough to be very little of importance for europe and asia and africa.
It seem to me that europe is looking more to the east than to the west. First time since I was born. Which may change everything.
Anyway Im just curious how can it all affect crypto. Would bitcoin and altcoins be considered "safe heaven"?
Have a great weekend
ps.
I would love to stay in touch with you a little bit closer as I value your knowledge and your input. And we could support each other on Steemit.
I wish there would be more advanced notification system developed by steemit.
Plus you're very responsive which is absolutely great and steemit community surely will benefit by having you here.
Perhaps you could send me short email to [email protected]
No pressure of course,
Cheers, Piotr
Well done, you did a good job spreading the word and reviewing this amazing project! Effect AI is an ICO with tremendous value that is going to storm the crypto space and significantly enhance the artificial intelligence progress by providing a decentralized market for AI services.
Yeah. And how about AI. Many believe it to have the most potential to impact humanity- maybe since the Internet, all time? My thinking is that SkyNet went back in time and figured 'Sarah who? With a decentralized blockchain, there is no need to hack Facebook, Amazon, and governments.'
Machine learning, Deep learning and AI are topics unexplored and has enough path ahead. Effect can corroborate the spread of these modern techniques