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Dec. 19, 2017
Dec. 20, 2017
ICO is over
The AI market’s potential today is significantly hindered by lack of universal mechanisms to allow interaction between existing AI systems (isolated from one another). And that is despite the market potential being estimated at $0,25M in 2017, able to grow to $3,1B by 2025.
The SingularityNet decentralized platform attempts to solve this problem, by functioning as what is basically an AI-application store. Developers are able to create and publish new AI-applications, while businesses use these services in their finished state. All transactions between ecosystem participants are carried out using the Singularity Token utility-token (AGI). Developers receive AGI for creation and support of existing AI-products, whereas businesses purchase the results of these products’ work.
The team’s members are all quite well known individuals and outstanding professionals, so a full list of their experiences is irrelevant:
And of particular note is SingularityNet’s possibly most unusual member – the robot Sophia Hanson, and the company’s “Chief Humanoid”.
SingularityNet is among the most fascinating companies to date, skillfully utilizing the hype surrounding AI technologies in general, and the creations of Hanson Robotics (the robot Sophia) in particular.
The idea of creating a store (base API for API) is nothing new (just think back to Apple Store), but what’s definitely a new development is filling the store with “self-negotiating” AI-applications working based on an AI-as-a-Service model.
SingularityNet documents site one AI-application’s ability to buy, sell and reuse knowledge, received by other AI-products, which is definitely something fresh and exciting. The AGI token economy also seems quite reasonable, unifying and simplifying interaction of all participants and allowing for rapid peer-to-peer payments.
We consider SingularityNet to be worthy of attention. And we expect the coming ICO should demonstrate the interest of the community in this project.
The value and power of Artificial Intelligence is growing dramatically every year, and will soon dominate the internet – and the economy as a whole. However, AI tools today are fragmented by a closed development environment; most are developed by one company to perform one task, and there is no way to plug two tools together. SingularityNET aims to become the key protocol for networking AI and machine learning tools to form a coordinated Artificial General Intelligence.
SingularityNET is an open-source protocol and collection of smart contracts for a decentralized market of coordinated AI services. Within this framework, the benefits of AI become a global commons infrastructure for the benefit of all; anyone can access AI tech or become a stakeholder in its development. Anyone can add an AI/machine learning service to SingularityNET for use by the network, and receive network payment tokens in exchange.
SingularityNET is backed by the SingularityNET Foundation, which operates on a belief that the benefits of AI should not be dominated by any small set of powerful institutions, but shared by all. A key goal of SingularityNET is to ensure the technology is benevolent according to human standards, and the network is designed to incentivize and reward beneficial players.
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