TLDR; SingularityNET is winning the battle to create a blockchain-powered AI-As-a-Service platform.
Mike Yap recently asked me:
What are your thoughts on these two AI blockchain companies: https://singularitynet.io/ + http://effect.ai/ ?
I will gladly offer my opinion on the two companies — SingularityNET and Effect.AI.
Vision
SingularityNET and Effect.ai share a similar vision. SingularityNET is a open-source “protocol for AI algorithms and models” which aims to provide “access a global library of AI tools” by “combining open source principles, blockchain integration” and machine learning. (SingularityNET, 2018) SingularityNET is “collection of smart contracts for a decentralized market of coordinated AI services.” This allows anyone to “add an AI/machine learning service to SingularityNET for use by the network” (SingularityNET Whitepaper, 2017). On the other hand, Effect.ai is a “blockchain-powered, decentralized platform for Artificial Intelligence development and AI related services.” Effect.ai will build an “open marketplace for offering AI algorithms as a service.” Also, “within this marketplace, algorithms will have the ability to communicate and collaborate with other algorithms and purchase services from each other.” (Medium, 2018) In other words, SingularityNET and Effect.ai allow developers to offer their artificial intelligence algorithms on the platform. Users of SingularityNET and Effect.ai can purchase access to AI services based on smart contracts.
Funding
SingularityNET is ahead of Effect.ai in terms of funding. “SingularityNET token sale completing in 66 seconds, raising $36 million (in ETH)” on December 24, 2017. (SingularityNET, 2018) That’s 25 billion in USD (as of December 24, 2017) (CoinMarketCap, 2017) On the other hand, Effect.ai has currently raised $13 million in USD (Effect.ai, 2018)
Development
SingularityNET is ahead of Effect.ai in terms of development. SingularityNET project is publically available via open source, first released 7 months ago (Github, 2017). The SingularityNET Alpha Network is already live (Medium, 2018). Effect.ai has not yet disclosed the date of the public release of code.
Partnerships
SingularityNET is ahead of Effect.ai in terms of partnerships. SingularityNET already has established partnerships with: BitSpace, Ocean Protocol, Nexus, FundRequest, Hacken, and NR Capital (Medium, 2018). Effect.ai partnerships have not been disclosed. (Effect.ai, 2018)
SingularityNET vs Effect.ai was originally published in Produvia on Medium, where people are continuing the conversation by highlighting and responding to this story.