SingularityNET (AGI), the revolutionary blockchain project known for its work in blockchain artificial intelligence as well as its goal to create the world’s first ever decentralized AI marketplace, has officially launched the beta version of their marketplace.
The beta version was launched on the Ethereum blockchain, and this was after 2 initial stress testing sessions by the community and volunteers during the month of March.
Decentralized AI Marketplace
Per the press release, SingularityNET’s beta marketplace showcases how AI algorithms will be available on SingularityNET where individuals, small businesses, and government agencies can purchase algorithms that have traditionally only been available to Silicon Valley giants.
The services initially on offer will include image and emotion-recognition services, object detection and speech-recognition, and gene-annotation services along with an AI toolset for genomic underpinning.
In a statement about the AI marketplace beta launch, Ben Goertzel, CEO and Chief Scientist of SingularityNET, said:
“The SingularityNET vision is a big one, fulfilling it will take considerable time and effort as we reach our goals. Further features will be added, but the February beta release is already deploying a wide variety of social and commercial value research AI agents.”
The AI Sector, How Big Is It?
SingularityNET is a revolutionary project in that they are creating the world’s first ever decentralized AI marketplace. But how big is the demand for such a marketplace anyway?
Well, according to data shared with IIB via the press release, the AI sector is predicted to be absolutely massive in the near future. In fact, AI is a sector that could see global GDP increase by 14% by 2030.
Moreover, the AI algorithms that SingularityNET will be showcasing on their decentralized marketplace could enhance products and shift consumer demand, accounting for 45% of total economic gains from AI by 2030. Therefore, the potential demand for SingularityNET’s decentralized AI marketplace is massive.
To get a sense of just how massive it could be, the AI market is expected to contribute $15.7 trillion to the global economy in 2030, which is more than the current output of both China and India combined.
Goertzel understands just how big this market will be and is dedicated to building the democratic and decentralized AI infrastructure for the AI economy.
Explaining his vision for SingularityNET, Goertzel said:
“As the AI economy matures and expands, the demand for a democratic and decentralized AI infrastructure is becoming increasingly clear, as is the need within businesses across the spectrum for AI tools with a greater variety of focus and generalization capabilities. We are eager to confront the next challenge of dramatically expanding our software base and community to meet these needs ”
When will there be significant demand for a decentralized AI marketplace? Let us know what you think in the comments section below.