Effect.ai — Review of ICO

Effect.AI is a project created to improve the work with artificial intelligence (AI) and to resolve all issues that arise in connection with its work.

Using AI:

Now AI has become ubiquitous, it is used in mobile phones, vehicles, in production and of course on various platforms on the Internet itself. Many scientists believe that AI has become a key component in the latest industrial revolution.

At the expense of the usefulness of AI, opinions were divided because of this technology, many workers lost their jobs. But nevertheless, AI can improve the standard of living and the level of world income. And the company Effect.AI wants to provide artificial intelligence for general use.

About the Platform of Artificial Intelligence:

Despite the advantages of AI has a number of problems that need to be addressed. The Effect.AI team divides these problems into three categories that interfere with the future development and improvement of AI.

Data processing: The crux of the problem is that for qualitative data processing, you need feedback from a person or machine learning on large data sets with annotations.

Divergent tasks or multi-purpose development functionality when installing AI on a car you need to develop it in such a way that it would read the road signs regardless of the host country.

Computational costs or the number of resources consumed during the operation of the AI. For them, either supercomputers or a network of simply powerful computers with high computational capabilities are needed.

On the same platform, the blockchain mechanism will be used, for communication between all network participants and faster learning of the AI platform, as well as less expensive, due to the distribution of costs among network participants.

Also on the platform, there will be such basic essential characteristics as:

  • Availability;
  • Accuracy;
  • Performance;
  • Interaction.

Tokens of the company Effect.AI:

The main sale of tokens begins on March 24. End of sale in 18 days. The minimum at which you can start the project is 4 million 280 thousand euros, the maximum required for the project is 14 million, 820 thousand euros. The minimum entry fee is 50 euros, the maximum you can make is 25,000 euros. Accepted currencies for the purchase of platform tokens: NEO, GAS. A total of 650 million tokens will be released.

Distribution:

On account of the distribution of released tokens, the following can be said: 40% will be sold during the ICO, 20% is allocated for future retention, 16% as a platform reserve, 15% for the project team, 7% for partners and advisors, and 2% for the bounty campaign.

On account of the distribution of collected funds, we can say the following:

20% will go to platform development, 18% to platform workers, 15% to marketing, 13% to improve functionality, blockchain mechanism and smart contracts. 10 percent for security and system. 9 percent for operational, legal and administrative expenses. And 8 percent of partners and talented employees.

Development Phases:

At the expense of the phases of project development, we can say the following:

1 phase – mechanical Turk. A workforce that will help any user perform or request tasks for developing AI.
2 phase – smart market – decentralized exchange, where people can offer and buy AI services.
3 phase – effective power – the computing power will be distributed on the platform to develop new AI algorithms and new training systems.

In conclusion, I want to say that the development of artificial intelligence is now in the trend, and making it accessible to everyone is a really interesting approach. I think many people will want to try AI on this platform, so the platform will grow and develop, and its AI along with it. The closed circle of development will turn out. So, join the platform and enter the new technology with us.

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