EFFECT.AI - Decentralized Network for Artificial Intelligence

Introduction

Artificial intelligence becomes famous over the time and now it is a worldwide recognized technology which used in various fields. For examples phones, autonomous vehicles and even in biotechnology fields. AI considered as a key factor to the fourth industrial revolution. This technology has both pros and cons. Pros are potential to increase income levels and improve life status. And as for cons, it will disturb labor market and will change the shape of the labor market.but it has very high potential towards pros by making life easy.

Problem

AI technology has many benefits but the technology is in development. There are three major areas to discuss AI technology

Data processing – In this kind of applications, it trained to take large data set and process quickly. This task normally takes a lot of human hours and effort.

Diverging tasks – when developing complex algorithms it needs to consider a lot of options. As for examples to steer an unmanned vehicle, the system needs to identify road signals also. That will be a complex problem.

Computational costs – this technology needs much more money than human-based systems. Need the expertise to handle complex equations and also need complex instruments to operate the system.

Solutions

The Effect Network will build a neural network with subsequent training to solve problems of varying complexity. Whether automation of any important technological processes at the enterprise before the decision of concrete user problems. It offers a platform to access an on-demand, global labor force, a marketplace that provides liquidity to an AI product irrespective of what stage it is in, and a means to channel unused computing power. Blockchain transparency will give much visibility to the system. This will reduce the cost by sharing. Like other blockchain technology, there will be no intimidators so the connection is directly from supply to the demand. Effect Network will have following characters

1. Accessibility- the user will have access to the large data set without any interference. And the technology will be faster, easier and cheaper.

2. Accuracy – buyer can use data with high accuracy using specialized AI system.

3. Performance – AI technology has high performance due to their technology

4. Interoperability – Combination of different AI platforms help to make high performance

How it works

The effect is privet decentralized market phase. In here supply and demand work together. There are 3 major phases.

Phase 1 – Effect mechanical Turk

In here anyone in the world can contribute into the project. When human completed a task effect will give token named EFX as their payment. This will process through smart contacts.

Requesters- they can perform or add a task into the platform. Requesters will decide the payment.

Workers – they will do the task requested and receive the payment

Tasks – it is work assigned or requested by the requester. Each task needs a smart contract.

Phase 2 – Effect smart market

In this smart market, people can share AI algorithms and services.

Two major units under smart market are

• Registry and interoperability

There will be a logger with all registered applications. This registry will help to identify users and their needs.

• Access to service with endpoints

Phase 3 – Effect power

In this phase, effect distributes worldwide in the form of deep learning AI algorithms.

This EFX utility token will allow payments on this Effect network platform. it will operate based on smart contracts and on NEO blockchain. Effect.AI aims to build a blockchain powered AI development.

Effect score

In this platform, users can submit large quantity of data and can get wealth. Users who put higher effort will get a higher score in the form of Effect.AI Reputation Score (ERS). Works who have higher score get higher score tasks and will get paid lot.