The Artificial Intelligence(AI) industry is making way for a great deal of new organizations in the past years. The whole market today is valued at $200 billion, and it is just in its initial phase.
Since when SingularityNET has brought the blockchain service into the AI industry. It has been predicted that the industry shall grow to an astounding value of $3.1 trillion in 2025.
SingularityNET (AGI) The Cryptocurrency
Cryptocurrency has grown into popularity, nowadays. There seems to be a cryptocurrency-based solution for everything you can imagine.
SingularityNET (AGI) is a platform for AI-based blockchain. SingularityNET, powered by AGI (Artificial General Intelligence) token, quantifies the value of AI agent in the market. They are working to build a decentralized marketplace for artificial intelligence.
The AGI token allows AI services global payments with no exclusion or censorship. It helps the AI market to promote the best AI services and improve the network.
Since its introduction to KuCoin last January 20, 2018, it currently sits at the 94th place in the top 100 most valuable category.
The Artificial Intelligence Service
One of the most notable breakthrough in AI was introduced two years ago. Sophia, a humanoid robot, was created by SingularityNET, together with Alphabet Inc, and Hanson Robotics.
The AI marketplace is making it possible for anyone to use the algorithm and pieces of Sophia, as well as other AIs. It will be the largest and first of its kind, where artificial intelligence can be bought or sold.
This will pave a way for future AI growth and developments. AIs will no longer be bound to a singular organization, instead they are able to coordinate and cooperate at scale with each other.
SingularityNET want to make AI services accessible to everyone. They aim to provide solution for regular businesses to take advantage of this technology or service, through a permission less platform that anyone can utilize.
Their platform aims to provide solutions for:
- Wrapping AI Algorithm
Create a simple protocol for exchanging data and coordinating processes between AI, to solve communication problems.
- AI To AI Economy
SingularityNET market, a platform that lets AI services to be discovered and purchased.
- Affordable Automation-In-A-Box
Automation-in-a-box ca offered at a very low cost, by linking AI services easily.
What’s Next For SingularityNET
Recently, SingularityNET have been collaborating with projects involving new partners. According to them, they got dozens of integration opportunities with highly regarded AI developers, blockchain organizations, multinational companies and research institutes.
This year, they have announced working together with Ocean Protocol, which is a decentralized data exchange that would enable people to monetize data. NR Capital and SGInnovative, are just some of the major investors to this project. They have also signed a deal with Nexus, which is widely known as the world’s first 3D-Chain.
CEO Ben Goertzel of SingularityNET, believes that lack of cooperation holds back AI innovation. There are great number of scientists that are producing AI but has no means to communicate with each other. He sees SingularityNET as a connection or market for trading Artificial Intelligence.