What is SingularityNET?

Is the future of AI a future in which everyone has experience working with one? It could be, but it’s not quite evident yet. SingularityNET is one particular project that aims to democratize the relationship between business and AI. In essence, this effectively means that they aim to create an easy-to-use B2B marketplace for AI services, for non-AI firms. This is only the first step in their ambitious roadmap, however. In doing this, SingularityNET hopes to one day pivot towards being an AI only marketplace, without human intervention.

A Decentralized AI Marketplace for Everyone

So what exactly does being an AI-only marketplace entail? Well, first of all, I know that I’ve said this before, but think Ebay, except in a business to business format. To be clear, to get to the point where no human activity is needed in its marketplace, SingularityNET first hopes to be the decentralized-Ebay of AI services for firms. SingularityNET has chosen to simplify their initial marketplace offering to three specific types of AI projects to avoid over-complexity as it officially launches. Precisely, for the first two years of its launch, SingularityNET will allow projects related to Cloud Robotics, Biomedical Research, and Cybersecurity to be traded and run on its network.

Cloud Robotics refers to projects like the Golem Network, except that these projects are hosted on Cloud Networks instead of on Decentralized Blockchains. Biomedical research in AI refers to projects related to the artificial generation of cells needed to combat diseases and other health problems as well as any research that essentially uses AI in medicine. Finally, Cybersecurity, in the context of AI, refers to AI prediction systems that look at what happens on specific networks and adjusts the security of these networks in response to real-time data that it takes in.

With all of this in mind, it does seem that SingularityNET is trying its best to sit at the forefront of the AI industry as it grows as well as provide the ease of access to services that continue to foster this growth. A key question that is still yet unanswered because it depends on the marketplace’s development is: how will SingularityNET’s transition from being a B2B, human to human, marketplace to an AI to AI marketplace play out?

Partnership with BitSpace

The answer to this might begin with the firm’s recent partnership with a company called BitSpace.The specific aim of this partnership appears to be to spreading awareness of the utility and overall importance of decentralized AI networks but most importantly, of course, of SingularityNET’s decentralized AI network. SingularityNET claims that Bitspace has a track record of encouraging and helping Blockchain innovation in Europe. It’s hoped that this professed track record as well as Bitspace’s existing partnerships related to it, will effectively push startups and larger firms to accept SingularityNET as a viable service. It’s clear given the current, global business climate that AI is important. In Silicon Valley, many startups are getting into it, to say the least. Despite this, one is left to wonder: what exactly is Bitspace’s individual track record? To begin, it’s clear from their website that they are trying to do a lot with EOS. With this in mind, it’s important to remember that EOS has already reached a certain level of controversy in the Blockchain industry.

One example of this would be the widespread claims that EOS actually admitted that its current tokens have little intended purpose. Overall, Bitspace’s support for EOS seems to be directly financially related. The firm has publicly announced its candidacy as what is called “an EOS block-producer.” One can liken this to a miner with a major stake in a crypto-network, although the difference is, in EOS, mining isn’t exactly done. In addition to their support for EOS, which has also only been recently announced, Bitspace also has existing partnerships with Harmonychain and Parsec Frontiers.

With Harmonychain, it’s clear that they are a Blockchain-tech company, with over 60 Blockchain patents pending in Norway. Beyond this, it is not quite clear what specific business they are looking to get into. With Parsec Frontiers, it’s clear that their chief product is a Blockchain-based gaming experience that looks like a mix between a nicer version of Starcraft in a new setting and a complete virtual reality experience. Overall, they describe themselves as an “MMO experience,” “built by players” and “owned by players.” The game’s primary concept is actually quite simple on the surface. It will use the Blockchain to ostensibly allow a previously unheard of number of players to play at once.

Theoretically, it could be extrapolated that the network and the gaming experience will become more stable as well as improve as the critical mass of players increases. This can be taken as true if one makes the analogy between this specific gaming experience and the growth of a Blockchain, over time. With all of this in mind, it’s at least partially clear that Bitspace wants to have their hands on a bit of everything in the Blockchain industry as it continues to develop.

On the flip side, it’s not quite clear that they have a widespread reputation for fostering Blockchain growth in Europe, but it is clear that Bitspace is growing in popularity and gaining the trust of the overall Blockchain and AI communities. Therefore, it seems that SingularityNET saw an opportunity to join the forefront of both of its industries and took it. With this in mind, one could assume that SingularityNET aims to be known as a valuable partner of Bitspace at first. Over time, it would work harder to separate itself from this defined niche and become an independent leader in AI.

Future Outlook

It is true that a lot of this is assumption backed by the facts that are there now, related to this situation. Over time, it will be interesting to see how SingularityNET’s roadmap works out. Will they be able to stick to the direct transition from being a human to human marketplace to being an AI to AI marketplace? Will they have to add another specific set of steps in between to make this happen? Will Bitspace be able to help them achieve their ultimate goal? Both Artificial Intelligence and Blockchain technology are rapidly evolving, as of now. It’s simply a fact that we can’t say that anything is completely certain until both industries reach a certain level of maturity or level off significantly. Even, so when SingularityNET becomes an AI to AI marketplace, we just might see the true Renaissance-like growth of AI systems that all of us have been waiting for.

With a truly decentralized AI to AI data sharing center, AI systems could connect to form supercomputers that are far above even the ideas of competitors like the Golem Network. To get to this point won’t be easy. As of now, however, it does appear that SingularityNET is doing everything that it can to achieve widespread acceptance as a viable solution to the problem that it wants to solve.