Agorai ICO: Blockchain Artificial Intelligence Crypto Token?
Agorai aims to democratize access to artificial intelligence by creating a marketplace for AI and data assets. Find out how it works today in our review.
What Is Agorai?
Agorai, found online at Agorai.ai, is a marketplace for both artificial intelligence (AI) software and data assets. The platform sees itself as an “app store” that allows corporations to access the tools they need to compete in the modern world.
Obviously, today’s AI development is extremely centralized among a few organizations. Big tech companies have the data and resources to build complex AI systems. Companies that don’t have the same resources are falling behind. This is inevitably putting AI systems into the hands of an elite few – something that could have dangerous effects on the world moving forward. Agorai is one of several companies seeking to democratize access to the artificial intelligence marketplace, creating an even playing field for the future.
“Our mission is to ensure that the benefits of AI are owned and controlled by all of us and not just a select few,” explains the official website.
Let’s take a closer look at how Agorai plans to accomplish that goal.
How Does Agorai Work?
Agorai contains two marketplaces, one for AI applications and another for data assets. Small, medium, and large businesses around the world can pay a single low fee to access these marketplaces and the applications within them.
Businesses can use these applications with their own data, data purchased from the marketplace, or a combination of both.
Agorai claims their initial set of AI applications and data assets that will be available in the marketplace later this year “will rival much more expensive solutions, providing everybody with the access to AI that only the largest firms have today.”
Agorai sees its AI marketplace as “the engine” while the data marketplace provides “the fuel”. You can buy data from the data marketplace for use in the AI systems you purchase from the AI marketplace, for example.
The Agorai ecosystem will revolve around two tokens, including the AISA token and the AISD token. The AISA token is used to participate in the AI system marketplace, while the AISD token is used to participate in the data marketplace.
Agorai Features & Benefits
Agorai claims to have unlocked a number of benefits by linking data and AI marketplaces. Here are some of the features and benefits provided by the platform:
Access: Agorai aims to enable uncensored access to artificial intelligence tools.
Decentralized: No single company will own the AI tools and data assets, yet everybody will have access to them. Agorai will offer decentralize and democratize access to the advanced tools required to build complex AI systems.
Distribution: New startups can build solutions that will be instantly deployed around the world via Agorai’s distributed marketplace
Compensation: The people that create AI tools and the people that offer data to the platform will be compensated, as opposed to rewarding the people that hoard AI tools and data – which is how it works in today’s AI development ecosystem.
Value: Agorai is a liquid marketplace where companies and individuals can place an explicit value on their data sets, then receive payment for them.
Access to Powerful AI Assets: At launch, Agorai hopes to offer a suite of powerful AI tools through its marketplace. Those tools will include machine learning and deep learning systems, reinforcement learning systems, neuronal networks, machine vision systems, natural language processing systems, natural language generation tools, speech recognition tools, a semantic AI (reasoning knowledge) system, and more.
Overall, Agorai believes the AI tools available through its marketplace will rival any solution available in the marketplace today.
Agorai Use Cases
Some of the potential use cases for Agorai include to develop all of the following products:
- Machine learning
- Data ontology
- Natural language processing
- Customer analysis
- Call center optimization
- Social network profiling
- Machine vision
- Reasoning engines
What Problems Does Agorai Seek To Solve?
Agorai believes there are a number of serious problems with today’s AI and data marketplaces. Some of the problems identified in the Agorai whitepaper include:
Lack of an Open Marketplace for Data Assets or AI: There’s no single place where people can go to buy or sell data assets or AI systems. Businesses are increasingly rewarded for hoarding data and AI assets. There’s no incentive to share this data, which forces AI development into the hands of an elite fee.
No Price Transparency: There’s no publicly available information regarding what a given data asset is worth. This lack of transparency makes it difficult to quantify data – despite the fact that data is one of the world’s most valuable assets. There’s no marketplace to find the price of data.
Broken Compensation System: In today’s ecosystem, the people that derive benefits from data are those that aggregate information rather than create it. Individuals sell their data on a daily basis – like the things they Googled or the places they traveled – yet receive no compensation for it. There’s enormous value in this ecosystem, but none of this value is going back to users.
Regulatory Changes: Major regulatory changes worldwide are changing the way data is handled. The Agorai whitepaper mentions the EU’s General Data Protection Regulation, or GDPR, which is scheduled to take effect in May 2018.
Innovation is Skewed Towards Advertising: Most of the money to be made from AI comes from the world of advertising. That’s why most AI systems are catered towards advertising – despite the fact that AI can have powerful effects on countless industries.
Who’s Behind Agorai?
Agorai’s team consists of recognized industry experts from the artificial intelligence, data science, and blockchain industries.
Key members of that team include Josh Sutton (CEO and AI Lead), and John Edge (Data Lead). Sutton is the former global head of data and AI at Publicis Sapient, while Edge is an MIT Connection Science Fellow and Chairman of ID2020.
How Do Agorai Tokens Work?
Agorai will offer two separate ERC20 tokens on the Ethereum blockchain. Everyone who participates in the Agorai crowdsale will receive these two tokens. One token will be used to access the AI marketplace (AISA token) and the other will be used to access the data marketplace (AISD token).
The dual token system will allow participants to use the platform for different purposes. Participants who specialize in selling data, for example, can exclusively use the AISD token without needing to participate in the marketplace for AI Systems.
The Agorai Token Sale
There’s a total supply of 1 billion AISA tokens and 1 billion AISD tokens. Of the total supply of tokens, 40% are being sold to investors via the ICO. The remaining tokens are reserved for ongoing operations (35%), reserved for the management team, founders, and advisors (20%), and reserved for academic inecntives (5%).
Agorai has not yet announced dates for its ICO. However, as of April 2018, the company is currently going through its pre-sale.
Agorai aims to change the way we buy and sell data and AI systems online. It seeks to create a transparent marketplace that democratizes access to AI development.
To learn more about Agorai and how it works, visit online today at Agorai.ai. The platform is currently going through its pre-sale, with a full token sale for AISA and AISD tokens scheduled for the near future.