Artificial Intelligence (AI) and Machine Learning (ML) are buzzwords that can be found in almost every tech conversation these days, and that is not going to end anytime soon. Synapse AI, led by a supercharged team, is paving the way to bring AI into the mainstream and blockchain technology is helping them bridge the gap.
Dan Gailey, CEO of Synapse AI, is working tirelessly to educate the masses on the power of AI, and he is creating a platform that rewards people and businesses for their valuable data.
Synapse AI is building decentralized marketplaces where participants will be rewarded for contributing data. Synapse AI’s “SYN” utility token facilitates these economies between participants by transferring value to them. This accelerates a system that grows beyond the means of the capacity of any one single company or organization.
By opening this data and using machine learning models through decentralized marketplace formats on the blockchain, and by tokenizing contributors, Synapse AI aims to create syndicates that provide the greatest benefit to users everywhere.
“We’ve gotten so used to giving away our data for free – and regularly,” Synapse AI CEO Dan Gailey said. “We upload and tag photos, we share our location, we provide access to our purchase histories – all for free. But that’s neither fair nor sustainable. The future will be built on a fair and balanced intelligence available to all equally, by utilizing newly created AI economies that any agent can participate in and receive some reward for doing so.”
As we go through our daily routines, interacting with our mobile devices and other computers, we provide valuable data to the corporations and entities running the apps we use. The data they collect from our interactions and activities helps train their “machines” to operate more efficiently and profitably.
In the Synapse AI whitepaper, the team lays out their plan to “create the world’s network of global-scale intelligence gatherers, trainers, processors, and contractors that all other agents can access at any time. This accelerates a system that grows beyond the means of any single company’s capacity.”
The new AI economies will be made up of two groups of players: data sellers – any entity that creates data; and data purchasers – businesses or other organizations that want to use data to grow.
To strengthen and advance the AI community set to build this future, Synapse AI hosted the Decentralized AI Summit 2018 on Feb. 1 in San Francisco. Leaders from Google, IBM Watson, Slack, and other leading companies discussed the path forward on AI economies and how they will improve our lives.
Synapse AI recently announced the details of Tiers II and III of its ongoing token sale. Tier II is now live and runs through March 3. Tier III will open on April 2 and close on May 7.
The soft cap of the token sale is $1.5 million USD, and the hard cap is $ 6 million USD. The total supply of “SYN” tokens will be limited to one billion, with 33 percent of all of the tokens available for purchase during the token sale.
The token sale’s Tier III is scheduled to close on May 7, and the release of the SYN token is expected later in Spring 2018.