With the compound annual growth rate (CAGR) for Artificial Intelligence projected at >50%, no wonder Koios ICO aims to democratize the sector for the global consumer.
Artificial Intelligence is truly all around us.
We use it every day in the technology that we rely on – whether it’s through our mobile phones, shopping online or simply reading the news.
Whilst companies are using it to try to tap into our daily habits through spending and online behaviour, others are using it to figure out how they can drive you home without you having to actually touch the steering wheel (yes, Google, we’re looking at you).
It can be as simple as Spotify suggesting which songs you’ll like, Netflix predicting the sort of films and series you’ll enjoy or Siri telling you where the nearest gas station is.
The point is, you really can’t avoid it these days – and particularly in the business world.
However, the Harvard Business Review magazine stated in their May-June 2017 issue that less than 1% of businesses have in-house developers, and that less than 50% of businesses use Artificial Intelligence to enhance their profitability.
That doesn’t sound like a lot, does it?
On the other hand, we know that many business owners are constantly looking for ways to use Artificial Intelligence to enhance their profitability.
And in comes Koios.
The founder and CTO Marcus Bowles quickly discovered that there is a ‘lack of a medium for AI developers to learn, create, validate, monetize and distribute their creations to a global audience without an intermediary’.
That’s why he decided to ‘provide a highly distributed, planet-scale ecosystem of products to power and accelerate AI development’.
Bowles says: “Our tagline is ‘Democratizing Artificial Intelligence for the Global Consumer’ and that’s actually why I’m building the platform – to put AI into the hands of people everywhere and accelerate innovation.”
Why is it on the blockchain?
“AI is such a powerful technology that no single governing body should own a majority share of the intellectual property. By creating a decentralized AI platform to allow the exchange of value between developers and consumers, it ensures equality of access to these technologies,” he says.
Bowles believes that one of the most exciting aspects of the business is the ability to engage a global audience of AI developers. “I’m really excited to see what innovation will spring forth from the platform. I’m building a platform for the builders,” he adds.
But how exactly does Koios work?
Koios features three products on the Koios Platform: The AI Lab, The Titan Protocol and the Neutral Net.
The AI Lab
The Koios Team has created the AI Lab, which is a development platform which serves as a library of tools, algorithms and data sets for developers.
It aims to provide building blocks to ‘not only accelerate AI Development, but also allow developers to deploy their creations to a fully hosted Machine Learning Engine exposed via API for public or private consumption’.
The Titan Protocol
Any user with access to the Koios desktop and mobile apps can join in the AI development.
By ‘renting’ their CPU power to the platform, they can earn tokens in three different ways.
1) They can perform ML Model Training and Data Tagging tasks
2) They can perform AI Validation tasks
3) They can submit data to the AI Lab
The Neural Net
The final part of the platform, the Neural Net, will serve as an intuitive marketplace for Artificial Intelligence and Machine Learning content.
The Koios Team
Founder Bowles has been in the tech industry for the past 20 years, which includes his time at Google as a Cloud Engineer. He is joined by Product Manager Braiden Judd from Amazon, Blockchain Developers Levgen Legorochkin and Abdulqadir Cutpiecewala, and Chief Marketing Officer Zoe Konikkos.
Bowles says: “Our team is purposefully small at this stage to keep us focused on the core mission; we are building the framework for the platform based on our collective learning from developing large-scale, highly distributed apps. To accelerate the roadmap, we will be building out the team further after the private sale.”
Why is now a good time to launch?
“There is an ever growing community of AI developers without a medium to create and deliver AI outside of large corporate or higher education. The innovation in this sector is amazing and should be shared with all consumers,” says Bowles.
Why should people invest in the ICO?
“The market for AI is one of the strongest in tech with a CAGR of 50% and a projected GDP of up to 17 trillion USD by 2030,” he adds. “The total addressable market for a product such as Koios spans all industries, all demographics and innumerable use cases. The possibilities are endless, as is the growth of this platform.”
Is there anything else like it on the market?
“Outside of blockchain there is only a single competitor, however they are focused on a developer-to-developer model.
“Within the blockchain ecosystem there are a few projects that are addressing certain use cases that we refer to as features. We believe that the only way to democratise AI is by building a holistic development and marketplace platform,” he adds.
5 reasons why Koios believes in using Artificial Intelligence right now
1. It reduces the chance of human error and increases compliance
2. It intelligently connects people, process and systems
3. It increases profitability with automation
4. It helps to gain actionable insights from from data
5. It enables new apps and experiences
Based on our ICO Ratings, we rate Koios as a Solid ICO. With the team members’ strong backgrounds from Google, Amazon and the blockchain, this ICO addresses the hugely important market that is Artificial Intelligence.
Join their whitelist here.