Effect.AI making AI a reality for You, Me and Everyone

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Artificial Intelligence or AI has moved from the realm of science fiction to the real world. We already have cars that can drive themselves.Phones that can recognize voices and have face recognition and all this is only the beginning.

The Artificial Intelligence industry is growing at a fast pace. By the year 2030 it is projected to reach a size of $15.7 trillion. This would make it the largest and the most important industry in the world.

Industries like communication, commerce and transportation would find extensive use of AI to greatly streamlining and quickening the functioning.

When we look at such a tremendous growth potential then why not get involved and make the most of the opportunity.
Wait before you take such a step, look around and see who are the players in the Artificial Intelligence Industry.
Google, Amazon and Facebook emerge as the top contenders among the handful of players who dominate the AI market place.
The reason is that there is a need for a lot of money, resources, data, computing power and time is required to develop and actualize any AI project.

This creates a high entry barrier in the industry. So are your hopes of entering the AI industry going to dash?
No.

There is EFFECT.AI

Effect Network is in the process of creating a decentralized AI ecosystem with no entry barrier. Any user can get in and access this cutting edge technology without having to pay a high fee to any intermediary. It plans to do so in three phases. It is being built on the NEO BLOCKCHAIN

dev road map.jpg

Phase 1: Effect Mechanical Turk
This is the phase where it connects the mechanical turk to the blockchain. The process is aimed to connect the developers and the readily available workforce. It is a Peer to Peer Setup.
In a lot of cases a large workforce is required to perform simple tasks for which they get paid. This could be as simple as calling up a phone number and recording a voice message.

The Developers require such data or data sets to test the AI logic that they have created.
The workers get paid in EFX tokens and the AI projecrs move to the next phase.There are some existing marketplaces of similar nature such as Amazon Mechanical Turk, Guru.com, Fiverr.com etc. These are centralized market places where the intermediary takes a big chunk as fee. The Effect Mechanical Turk is a decentralized market place powered by
the Neo Blockchain. If we were to compare the Effect Mechanical Turk with the other existing model like Amazom M-Turk then here is how they stack up.

effect vs amazon turk.jpg

Clearly the Effect Mechanical Turk is an attempt to connect the global work force with the AI developers giving them access to more varied data and a lot many higher data sets at a reduced cost.

For the work force it means higher wages per hour. It opens up the gates to the job market to people in 195 countries.

Phase 2: Effect Smart Market
This is the marketplace to buy and sell AI related services. Companies can access this market to buy AI solutions for their businesses.

Phase 3:Effect Power
The AI Algorithms are designed to run on the Neo Blockchain. A part of running requirement of these Algorithms is the need of computing power.
Through a pooled computing power a large pool of power would be created to run and power these AI Algorithms.

EFX tokens

EFX tokens are NEP-5 tokens running on the NEO blockchain.
EFX tokens would be used as the payment currency for paying the workers. The network users and the Requester s can buy the EFX tokens.
The Workers can exchange the EFX tokens for Native tokens.

Effect AI would maintain a Pool of tokens called Galaxy Pool. This is done to facilitate liquidity,encourage adoption and stabilize the network fee.
As the main purpose of the EFX tokens is to be used as currency thus more the activity in the network more would be the value of the EFX tokens.

EFX Token Sale

Since the EFX tokens are powered by the Neo blockchain thus NEO or GAS can
be used to invest in the token sale. A buyer can make an investment of as
little as euro 50 towards the token sale.
Here are the details