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The Third Wave Of AI Means Competition For Big Tech From The Crowd

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The third wave of AI is upon us. And the crowd is its heart and mind. Mind AI, a Seoul, South Korea-based project that is propelling AI into the future, demonstrates just that.

“The first wave of AI was traditional programming,” says Isaac Bang, Project Lead for REDDS Capital-backed Mind AI. “You write lines of code and the computer executes exactly what is written. The second wave of AI is neural networks, machine learning, self-driving cars, image recognition, AlphaGo or IBM Watson, and all the crazy things you see today – that’s where we are at now.” But there are shortcomings to modern AI.

“Big companies are mostly furthering the research and development of deep learning neural network based AI systems,” says John Doe, Chief Scientist of Mind AI, an artificial intelligence engine and an ecosystem. “These systems require massive amounts of data and computing power. Big companies have access to both immense databases and access to massive server farms that provide computing power due to the large user base and deep pockets.”

Mind AI, however, takes a different approach to AI. It combines two key parts: the core AI engine and the ontology database. “The ontologies fuel the AI engine,” says Mr. Doe. “The core AI engine is centralized, but will ultimately be distributed. The ontology database is distributed already, and therefore co-owned by the ‘ontologists’, who can vote to disable access to the ontology database for any bad actors. This approach doesn’t require big data or supercomputers to perform human-like reasoning.

“Instead, it requires ontologies, or ‘knowledge’, for the AI to become smarter,” says Mr. Doe. “Even when Mind AI accumulates a huge amount of ontologies, it still won’t require supercomputers to operate.”

The crowd evens the playing field by inputting ontologies into the database and educating the AI. “The AI learns different languages, cultures, domain-specific knowledge, etc. simultaneously,” Mr. Doe continues. “There will be, at a certain point, enough ontologies in the database so that teaches Mind AI to learn so it can go online and conduct research.”

Big companies are missing key ingredients, says Mr. Doe. “What the big companies don’t have is the coupling of the logic engine and the ontology,” he says. “There have been several large attempts at a comprehensive ontology, but these have failed because they did not have an interconnected means of understanding them and reasoning with them.”

Mr. Doe adds: “We are getting our own versions of everything under the sun but we now have a tight coupling between knowledge and the means by which such knowledge can be understood. Not even the big boys have this one-two combination, however much money and data they want to throw at the problem.” This is the third wave of AI, as Mr. Bang says.

“The third wave is contextual adaptation,” says Mr. Bang. “AI will have to be capable of contextualizing and reasoning, similar to how humans think. Humans use generalized knowledge, abstract reasoning, and logical reasoning.”

He adds: “We do this with natural language. In the third wave of AI, we may submit natural language into an AI engine and then the AI engine converts the natural language into data structures called canonicals.”

The data structures are the key to third wave AI tech. “We allow artificial intelligence to use deductive, inductive and abductive reasoning on whatever text it is given,” says Mr. Bang.

Mind AI’s internationally patented core technology, Mind, has no need for supercomputers.

“Most neural network-based AI systems require a lot of computing power,” says Bang. “But we rely on the crowd.”

He adds: “To build a reasoning engine that accurately mimics human thinking, we need the input of all kinds of humans. That’s why Mind AI is developing an open-source development ecosystem using blockchain technology.”

Mind AI does this through its proprietary reasoning engine.

“The third wave of AI is more human-like,” explains Bang. “We can bootstrap such a network using blockchain-based tokenized incentives. This will then build out our sets of ontologies. And then we want to make this available to as many people as possible. People can’t just go and use IBM’s Watson or AlphaGo to fold proteins. You need corporate deals, lawyers, and more to have access. The third wave of AI is about open, transparent networks that people can join and leverage.”

And it’s all made possible by you and me – that is, the crowd.

“Community ownership plays a critical role in democratizing AI,” explains Mr. Doe. “By having a distributed ownership of the ontology database, a centralized entity cannot overrule the wishes of the owners of the ontology database.

‘If some government wanted to use Mind AI and its ontologies to develop the next generation of weapons or surveillance tools, the community—owners of the ontologies—can vote to disallow it to access the database.”

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Ludos Protocol Makes a Strong Case for Investors in Blockchain Gaming

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As games migrate to the blockchain and become increasingly complex, Ludos Protocol is set to capture this new market. It’s creating a solid ecosystem of DApps and toolboxes that provide Blockchain as a Service for developers to build and maintain sidechains.

Ludos Protocol solves one of the biggest issues that has given investors qualms about blockchain gaming: scalability. An overcrowded mainchain is a perennial problem that has hindered the progress of even the best-funded blockchain gaming applications. Thanks to a hybrid of Proof-of-Work and Proof-of-Stake consensus algorithms, Ludos Protocol is able to implement a multi-sidechain system. This allows any populated game to deploy its own sidechain of transactions while keeping the mainchain throughput at a minimum.

This is why Ludos Protocol has attracted investment from fund behemoth Softbank, whose previous ventures include Uber and Alibaba. Ludos Protocol is the fund’s third-ever foray into blockchain.  

Industry trends attest to Softbank’s interest in Ludos Protocol. Gaming produced a global revenue of over $200 billion in 2017, according to the latest report by Digi-Capital. It is a figure that is expected to grow to $300 billion by 2021, making the industry one of the most lucrative in the digital economy. It is also one of the ripest for change by blockchain technology. The development of a comprehensive blockchain infrastructure that suits the evolving needs of the…

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Why Investors Should Closely Follow the Earnings Season

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The earnings season has arrived, and investors around the world are excited to see what reports are companies going to publish. This is important as these reports contain companies’ earnings for the current year, which can provide investors with some valuable insight.

No matter what announcements the company has made throughout the year, it is the earnings report that indicates the firm’s true performance. As such, it often has a significant impact on its public image, the price of its stocks, as well as investors’ interest.

Earnings reports can open up new opportunities

When it comes to the cryptocurrency markets, 2018 has brought both, volatility and stability. Most of the time, prices were relatively stable, but this state was only reached after a harsh drop in January 2018. Since then, several smaller price surges, followed by just as large price drops, hit the market once again.

As a result, crypto traders were prompted to look for alternative investments. Earnings seasons often present numerous opportunities for resourceful investors. Analysts claim that earning reports managed to significantly impact prices of shares (by over 5%) since 2001.

It is expected that a lot of companies will try to take advantage of the earnings season in order to make a comeback, especially after the hit that markets suffered back in October. Various firms will also likely show insight into how the market behavior affected their profits and business, in general.

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TokenPay Litecoin Verge
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Ever since the cryptocurrency sphere was met with the news of the partnership between Litecoin Foundation, TokenPay, and Verge (XVG), the idea of them coming together has been among the most controversial news to ever surface in the cryptocurrency world.

The collaboration managed to even draw the attention of one of the most renowned crypto-influencer and bitcoin campaigner, Tone Vays. In his usual style, Tone took to Twitter handle on hearing the news, tweeting and expressing his disapproval while criticizing the creators of the three cryptocurrencies for allowing such a move to occur.

In retaliation to the attacks from Tone, Charlie Lee, the MD, and founder of Litecoin (LTC) posted his clarification on Reddit on the 17th July in regards to the partnership. Litecoin’s CEO started by explaining the dissimilarities between Litecoin as a currency and Litecoin as a company.

In his remarks, he said that Litecoin as a blockchain and crypto network is a decentralized network, whereas Litecoin Foundation as a company is a centralized non-profit institution whose goal is to ensure Litecoin (LTC) is developed, adopted, and used. Charlie also mentioned that Litecoin’s cryptocurrency and blockchain technologies did not require his direct services at the moment hence his concentration on Litecoin Foundation.

Charlie Lee made his remarks known saying:

“If Litecoin Foundation (LF) is exposed to not doing a good job, nothing should prevent another organisation to step in and do a better job. This is…

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