A decentralized AI market is emerging from the combination of blockchain, on-device AI and edge computing and Internet of Things (IoT).
Decentralized Intelligence Market
The first segment of the market involves decentralized autonomous organizations deployed on Ethereum blockchain. DAOs are algorithmic companies run by AI agents in charge of managerial decisions. This model can be effectively leveraged in the distribution of royalties, subscription payments and more. The second segment is represented by device-centric AI supported by mobile machine learning libraries like Apple’s CoreML. On-device AI is closely related to AI-based edge computing that allows complex AI algorithms to run on IoT devices like sensors, security cameras, drones or autonomous vehicles.
Decentralized Intelligence Networks
Another recent trend in the AI market is the development of decentralized networks built on the blockchain.
Experts estimate that AI market will increase from the $200 billion it is valued today to $3.1 trillion by 2025, but serious roadblocks remain. Today, AI functionality is expensive, time-consuming, and hard to use.
SingularityNET is a protocol for coordinating and transacting AI services.
SingularityNET will allow any company or researcher to monetize their AI solutions and get access to a variety of AI algorithms. To enable cross-AI communication, the SingularityNET team created a protocol shared by each AI product on the network. This protocol supports data exchange and sharing across different algorithms, which is helpful in building multitier AI applications.
Currently AI is a decentralized market. The SingularityNET protocol enables a global AI marketplace. As it matures, it will contribute to a decentralized, market-based artificial general intelligence for the benefit of all. Learn more about the project with the documents below.
SingularityNET will enable algorithms to be purchased as automated services.