- Today, there is no way for AI products to exchange data, learn from each other, combine their capabilities to work towards a common goal, or trade/exchange services.
- There are only around 10,000 AI developers in the world. Ninety-nine percent of businesses cannot afford to hire their own team of engineers to create AI, nor they can afford to risk integrating open-source APIs without technical expertise in the area.
Want to be featured in a future Entrepreneur Spotlight? Email us!
GenesisAI is an online marketplace for low-cost artificial intelligence (AI) products and services.
Why did you start GenesisAI? What problem were you trying to solve and why is that important?
When we were developing Palatine Analytics (a startup selling AI-powered employee performance monitoring systems), we learned that AI development is hindered by three fundamental problems:
Problem 1: No connectivity
Today, there is no way for AI products to exchange data, learn from each other, combine their capabilities to work towards a common goal, or trade/exchange services. AI technologies operate in a closed environment. Each company that develops AI collects its own data sets rather than sharing data or using previously published data to train its AI. In other words, companies must independently create AI that has already been created by other companies. This leads to redundancy and a waste of time and effort on the part of each company.
For instance, there are hundreds of language processing AI products that have been developed to operate in their own closed environments. A large component of AI is machine learning, which requires the machine to have as many resources to interact with and learn from as possible. It is ironic and paradoxical that this fundamental requirement of machine learning is ignored as there is currently no way for different AI services to learn from each other. The solution to this fundamental problem will be able to unlock trillions of dollars in market value.
Problem 2: Expensive to use
There are only around 10,000 AI developers in the world. Ninety-nine percent of businesses cannot afford to hire their own team of engineers to create AI, nor they can afford to risk integrating open-source APIs without technical expertise in the area. They are unable to determine which AI to integrate and/or how to develop the AI for their specific needs. All of this makes current AI implementation extremely expensive.
Problem 3: No way to monetize AI code
AI developers and companies do not have an easy way to sell their services. For example, a smart computer science student in Bulgaria wrote an AI code and intended to sell his capabilities to companies, but the student could not monetize his code easily because there is currently neither a marketplace where you can easily find potential buyers, nor a way for AI services to be discovered. Enterprise sales are extremely challenging and costly.
We decided to start GenesisAI to solve these fundamental problems.
What's one piece of information you know now that you wish you had known when you started your company?
Everyone wants to use AI-powered tools, but most people do not want to learn the computer science behind it.
What is one trend in your industry that you think will be most impactful to companies in the next five years?
Going from narrow AI towards general AI.
Which entrepreneurs do you admire and why?
I admire entrepreneurs who started by having very little and achieved great success.
What motivates you?
Shaping the environment around me.