Have you ever wondered what exactly goes on in the heads of blockchain entrepreneurs?
As we prepared to interview Chris R. Dawe, CEO of Effect AI, many questions came to mind: How does it feel like to see your token’s price spike over ten times its price overnight, only to drastically come back down? How does one manage an army of thousands of remote workers while maintaining the same vision? What is it like to work with the likes of the United Nations, the government of Singapore, Akon, YouTube, Amazon, and many others?
And so, we invited Chris to jump on a call with us.
It would be impossible to turn everything we learned from Chris into an article, more so when we talked for 40 minutes about different aspects of his highly complex project. However, for those unfamiliar with Effect.AI, it’s essential to know that:
- Their motto is ‘Helping data science teams succeed with structuring data and the deployment of AI automation‘. Effect.AI helps leverage human intelligence to train machine learning algorithms in use cases such as automating processes, translations & transcriptions and many more.
- Effect.AI’s system, Rosette, integrates with Youtube and allows users to generate subtitles for their videos using Artificial Intelligence combined with their remote force of workers.
- Effect also collaborates with the United Nations on a project to reduce water bottle pollution from schools.
- The company has also partnered with the famous singer, Akon (who also runs a project to develop a crypto city in Senegal) to create the Opportunity Hub, a blockchain hub in Kenya.
Effect was founded when the team spotted the need for humans to label data to get Artificial Intelligence to process it. One of their first implementations of this project was to help internationalise Amazon’s Mechanical Turk, a system that also offers remote workforce solutions.
So, why does a project focusing mainly on AI need to utilise blockchain technology?
The full interview with Chris is available for you to watch on our YouTube channel!
Chris touches on the implementation of Effect’s solutions for labelling data, and the need to go further than it. The company decided to go on and offer companies and governments the possibility of creating their own such structures fitting their particular needs, which then arrived at a logical conclusion: To do so, they would need a borderless system that allowed them to unify (and pay!) their workforce. Hence, they adopted the blockchain.
A project such as Effect that (as Chris puts it) is more alike an array of companies put together, rather than a single company, and therefore needs to have a unique value proposition. The need to create a unique business model able to hold this together is why, he explains, the company requests clients to purchase tokens en masse to acquire their services. Their token page also details a fascinating number of details that make up their value proposition, including a staking protocol for NFX, Effect’s secondary token. Which, in Chris’ words, ‘could have been the official birth of Decentralised Finance as we know it’.
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You still haven’t heard about Effect’s upcoming Decentralised Autonomous Organisation (DAO), Chris’ uniques ideas for DeFi, or what made him join Youtuber Ivan on Tech on a mission to create a digital Academy. To do so, you’ll have to watch the full video!
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We’ll see you next time, with more innovation for your ears and eyes ????
