Blockchain AI computing platform to cut costs by 70 percent

June 12, 2018 //By Jean-Pierre Joosting
Blockchain AI computing platform to cut costs by 70 percent
DeepBrain Chain, which claims to be the first AI computing platform powered by blockchain, is announcing a partnership with SingularityNET, the leading full stack open source platform for innovators in AI.

The partnership will allow SingularityNET to offer AI Agents on their data marketplace the option to power algorithms and link data sets via DeepBrain Chain's network. The deal will also allow for a connection between agents that links one service to another, providing back end autonomy without user input.

DeepBrain Chain will create a marketplace and platform for the development and training of AI models using integrated AI cloud network, while on the other hand SingularityNET looks to solve the autonomous interaction between AI agents. SingularityNet will utilize DeepBrain Chain's AI cloud service to offer the necessary level of computing power to anyone using the SNet service. The key goal here is to foster the expansion and growth of AI in a more decentralized manner.

"Our goal is to make AI more affordable across the market, allowing for further innovation in industries such as healthcare and finance," stated Dongyan Wang, Chief AI Officer and Executive VP of DeepBrain Chain. "Being the first AI platform built on the blockchain, we have taken a responsibility to lower computing cost by at least 50%. With our new collaboration with SingularityNET, we know we'll not only lower costs but begin to create a larger network of data sharing to further capabilities of those trying to significantly impact our daily lives."

There was an increase of 5,154 new AI companies in the period 2012-2016. Further, 20-30% of all AI applications cost is the computation. The role of artificial intelligence in daily life increases day by day, with an aggregated market cap already over 20 billion dollars. According to a study released by Narrative Science, 62% of enterprises will use AI technologies by 2018.

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