AI Xchange describes itself as “the future of trading”. Find out what that means today in our review.
What Is AI Xchange?
AI Xchange, found online at AI-X.ai, is an artificial intelligence system that aims to disrupt the international Inter-Dealer Brokerage (IDB) industry and revolutionize “the entire market”. Today, the top three players in the IDB industry earn annual revenues over $4.5 billion.
Inter-Dealer Brokerages provide brokerage services to institutional financial market participants. They work as intermediaries to allow large traders to make anonymous transactions. They’re generally unknown outside financial circles, although the IDB industry generates huge amounts of revenue. Despite the fact that IDBs are big business, their system is outdated. The firms use antiquated technology while offering services to clients that have little added value.
That’s why the creators of AI Xchange believe the entire IDB industry is ready for reinvention. And those developers, who have organized under the name AiX Limited, believe that value can come from blockchain technology.
How Does AI Xchange Work?
AI Xchange aims to introduce blockchain technology to the world of IDBs. The developers use blockchain technology to record financial market transactions and enable more efficient trade confirmation processes.
AI Xchange also uses cryptofinancing for growth capital. The team behind AI Xchange claims to be experts “in the fields of finance, AI, marketing and cryptography”, allowing them to create a unique and exclusive AI-powered product.
AI Xchange’s system also claims to offer superior service at a lower price than what’s currently offered.
One of the key technologies behind AI Xchange is called Rainbird. Rainbird is a cognitive reasoning platform, part of a new breed of AI technologies capable of making human-like decisions, at scale, while consulting with humans whenever more data is required to make a judgment.
The AI process starts with the Rainbird Authoring Platform, where experts can visually model their knowledge and decision-making logic to form a Knowledge Map. Unlike decision trees, knowledge maps are multi-dimensional. They also have multiple start and end points. The point of a knowledge map is that it can be queried to answer hundreds of different questions. That means users can take scarce human expertise within a subject field, then turn it into a chatbot or API that can be used by other people or systems.
How does this apply to AI Xchange and the IDB sector? AI technologies like Rainbird work particularly well in heavily regulated sectors like banking, insurance law, and trading. A law firm might build a Rainbird-powered platform to allow customers to gain immediate advice on changes in applicable legislation.
Other examples include an international bank using Rainbird to support staff when resolving complex customer problems, or a credit card company using Rainbird to provide simulated human oversight of potential fraud flags. Finally, international accounting firms might use Rainbird to automate complex tax decisions.
By harnessing Rainbird’s advanced AI capabilities, AI Xchange aims to make a more efficient IDB platform.
Benefits Of AI Xchange
How does AI Xchange plan to offer improvements over existing IDB technology? Here are some of the benefits of the platform:
- It will work as an AI-powered chatbot with built-in voice capabilities, replacing “Boxes” with an Alexa-type device that clients can consult for trading quotes while also providing standard chat functions over IM
- The ability to autonomously receive price requests from clients, request prices from other traders, and aggregate pricing to offer clients the tightest markets and execute transactions
- Built with sophisticated real-time pricing analytics across all markets, capable of offering trading advice to clients based on real-time market data and pricing developments
- The platform will be fully auditable, which is obviously very important in a regulated industry like trading
- Clients will benefit from a much cheaper, faster, and more dependable service while accessing information at their fingertips
- Brokers will benefit by being much more valuable to clients, helping to strengthen the broker-client relationship
- The public will benefit from increased efficiency in the financial markets, lowering transaction costs for everybody
Ultimately, AI Xchange plans to replace most human Inter-Dealer Brokers using advanced artificial intelligence technology to provide superior services. It’s a faster, cheaper, superior, and more efficient system than what’s used by today’s outdated IDBs.
Who’s Behind AI Xchange?
AI Xchange is led by Founder and CEO Jos Evans, Head of Artificial Intelligence James Duez, Director Nehat Krasniqi, and Technical Officer Peter Duggal. The team is named AiX Limited.
The developers launched their AI Xchange project in January 2017 and completed research in July.
The AI Xchange crowdsale is scheduled for September to October, during which 75% of the AI-X tokens will be offered, with the remaining tokens distributed to the team and advisors.
By the end of February 2018, the AI Xchange platform will be at the MVP stage and will be deployed in select markets. Before August 2018, the platform will be fully optimized and capable of rolling out in every market.
The AI Xchange Token Sale
AI-X tokens, or AXT, are locked at a total supply of 40 million. The tokens are priced at a minimum of $2 USD per token (or the Ether equivalent). As mentioned above, 75% of the tokens are available through the ICO, while 12.5% each is going to the team and the advisors.
AI Xchange will buyback tokens continuously once the company is profitable. 100% of the net profits generated by the token sale will be allocated to the Buyback Fund. Tokens are burned after they’re bought back, increasing the value of all remaining tokens.
The pre-ICO is scheduled for September 1 to October 25, 2017, while the public ICO is scheduled for October 26 to November 25. Both tokens may close earlier if all tokens are sold.
AI Xchange Conclusion
AI Xchange aims to revolutionize an industry that sorely needs to be disrupted: the Inter-Dealer Brokerage industry. Today, IDBs use outdated technology and provide services that add little value to clients. AiX Limited aims to fix this problem using a blockchain-based platform. By introducing blockchain benefits to the world of IDBs, the developers believe they can add enormous value.
The AI-X token sale is ongoing throughout September, October, and November. To learn more about the token sale, visit the company online today at AI-X.ai.