BLOCKCHAIN

SingularityNET ICO Raises $36 Million in Less Than 60 Seconds

SingularityNET sold out of its native Artificial General Intelligence (AGI) tokens and raised $36 Million in less than 60 seconds.

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“SingularityNET is the first and only platform that allows AIs to cooperate and coordinate at scale. No longer must AIs exist in silos, only capable of operating within a specific company, infrastructure, or industry. The future of AI is here. We hope you’ll join us.”

The company has stated that over 20,000 people registered to participate but the company had to reduce this number of contributers to just 5,000.

“[Screening] all applicants using layers of algorithms, in addition to manual review, to comply with global KYC/AML regulations. This reduced the pool of contributors to 5,000, but also set a new standard for fundraising via Blockchain with respect to global legislation,” SingularityNET said in a press release.

SingularityNET Combines AI With Blockchain.

In the current economic and technological context, every business needs AI, but off-the-shelf AIs will rarely match a business’s needs.

Only tech giants can hire armies of developers to build custom AIs, and even they have a hard time hiring enough AI experts to meet demand.

Many state of the art AI tools exist only in GitHub repositories created by grad students or independent researchers.

This puts them out of the reach of anyone without the skills to install, configure, and run them.

Most AI developers are academics, not business people, and have no easily-accessible marketplace to monetize their clever AI code.

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BLOCKCHAIN

SingularityNET Combines Artificial Intelligence With Blockchain Technology

Nearly a year into development, SingularityNET is poised to revolutionize the way businesses, institutions, and individuals develop and utilize artificial intelligence.

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“Led by an established team of developers and partners (previous projects include OpenCog, Hanson Robotics, and Novamente), we are proud to announce the publication of the SingularityNET whitepaper…As with SingularityNET, where AIs cooperate for greater capabilities and outcomes, capturing the collective knowledge of our community will create massive value for the platform. We look forward to incorporating feedback from our users, as well as future developers and partners,” the company stated on their official website, SingularityNet.io.

SingularityNET meets an acute and accelerating need in a projected $3.1 trillion market.

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In the current economic and technological context, every business needs AI, but off-the-shelf AIs will rarely match a business’s needs.

Only tech giants can hire armies of developers to build custom AIs, and even they have a hard time hiring enough AI experts to meet demand.

Many state of the art AI tools exist only in GitHub repositories created by grad students or independent researchers.

This puts them out of the reach of anyone without the skills to install, configure, and run them.

Most AI developers are academics, not business people, and have no easily-accessible marketplace to monetize their clever AI code.

Ben Goertzel
Ben Goertzel

“Today, nearly every AI resource and capability is stuck in a silo, relegated to a single industry or use-case.” — Ben Goertzel, SingulartyNET Founder & CEO

In addition to their clever code, machine learning tools require datasets of sufficient size.

Creating and managing such large datasets is beyond the means and capabilities of most AI developers, and the closed development model that currently prevails makes it hard for developers to share datasets.

We have a situation similar to the ones that spawned the creation of Uber and AirBnB: there is a large unexploited resource, a large market in need of that resource.

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The unexploited resource is AI algorithms and software existing on GitHub and elsewhere, and the market in need of this resource is the 99% of businesses that can’t afford their own team of AI experts. SingularityNET is the tool that connects the two.

SingularityNET provides an automated process enabling each business to connect existing AI tools together to build the solution it needs.

By providing an easy means of configuring tools, it offers both customization and availability, while reducing the reduplication of effort involved in proprietary development, making the development process more efficient.

SingularityNET launches these AI tools and datasets onto the marketplace, making them more accessible to end-users and developers, and giving developers a way to monetize their creations.

It is a sharing-economy marketplace for AI, that encourages collaboration between these tools and decentralized sharing of information, democratizing access to the benefits of AI.

CLICK HERE FOR MORE BLOCKCHAIN NEWS

Donate BTC: 13xyfdE1ERCu6ZaZ6Ejj7x6B7au8GJXont (Click for QR)
LTC: LeVDY175o9B5PZJzPihAAFqCVcFHRaiVsB (Click for QR)
ETH: 0x3930890DC36E40e17c280aF5A80cEAC30732cFB9 (Click for QR)