SINGULARITYNET

THE EMERGING FUTURE OF AI

Written by: Michael Kitchener Website: www.singularitynet.io

The decentralized marketplace for AI.

There is an exciting movement in Blockchain in that applications are expanding from supply chain management, credit lending services, data trading and the like towards more cutting-edge technology; artificial intelligence. (Jones, 2017) Singularity is a Blockchain project that is at the forefront of this movement.

SingularityNET aim to create the foundation of, and provide for a global AI market place. The hypothesized decentralised AI marketplace proposed by the SingularityNET team would allow for AI to be traded and combined in order to combat the many issues that currently prohibit the expansion of AI into the mainstream. In short, Singularity provides the innovative foundations that are requisite for a promising future with AI through creating a protocol for networking AI tools to come together as a coordinated form of Artificial General Intelligence.

Sophia Hanson

SingularityNet Official Spokesbot

To understand the strength behind the singularity platform we must first look at many problems that are ubiquitous within the current state of AI technology. The lack of channels for data transmission between AI means that AI cannot coordinate the processing of data together. As such, such processes must be done manually contributing greatly to costs – in terms of both finances and effort. (Aspland, 2018)

Additionally, there is no current process for discovering needed AI services or evaluating the quality prior to use which is extremely discouraging and thus a significant barrier in the path to widespread usage of AI.

Finally, the great expense of AI is extremely prohibitive with respect to the industry’s’ growth. (Dipshan, 2017) This rules out the vast majority of organisations and individuals.It is these problems that SingularityNET aims to solve through the decentralisation of the AI marketplace via Blockchain technology. With respect to the lack of data communication SingularityNET plan to wrap AI algorithms and thus implement a protocol to facilitate the coordination of data processing between various AI.

With respect to issues of AI discovery, SingularityNET’s market place intends to fill this void, and in doing so also resolve cost issues through the linking of AI services – offering cheap ‘automation-in-a-box.’

The AGI token offered by SingularityNET is the instrument powering this decentralised economy. It acts as payment within the net and allows for quantifiable values to be assigned to AI on the market place. The economics behind this token are those of a utility token – it will be used to fund any transaction agents may wish to make within the SingularityNET AI marketplace. The token also provides incentive for network members to allow for the best AI services to be brought to the precipice of the market and aid discovery.