GenesisAI

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by:
Archil Cheishvili
February 8, 2021

Entrepreneur Spotlight: Archil Cheishvili, CEO, GenesisAI

We believe everyone deserves open access to powerful AI services. Easy to use, whether you’re an AI expert or have never worked with AI before.

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Key Points

 

  • 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.

 

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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.

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Important Information

GenesisAI Corporation, a Delaware corporation (“GenesisAI”), operates the www.genesisai.io website (the “Site”) and its subdomains. GenesisAI is not a broker-dealer or investment advisor.


You should speak with your financial advisor, accountant and/or attorney when evaluating any securities offering. Neither GenesisAI makes any recommendations or provides advice about investments, and no communication, through the Site or in any other medium, should be construed as a recommendation for any security offered on or off this investment platform. The Site may make forward-looking statements. You should not rely on these statements but should carefully evaluate the offering materials in assessing any investment opportunity, including the complete set of risk factors that are provided as part of the offering circular for your consideration.


From time to time, GenesisAI may raise funds through one or more offerings of securities conducted through the Site pursuant to a public offering exemption from federal securities registration requirements pursuant to Regulation A, under the Securities Act of 1933 (the “Securities Act”). The current offering circular for GenesisAI’s current public offering pursuant to Regulation A is available by emailing the Company at invest@genesisai.io; via the Site under the “Why Invest or Home” heading; or accessed online here: https://www.sec.gov/edgar/browse/?CIK=1797609.


Investing in securities involves risks, and there is always the potential of losing money when you invest in securities. Past performance is no guarantee of future results. Investments such as those on the Site are speculative and involve substantial risks to consider before investing, outlined in the respective offering materials and including, but not limited to, illiquidity, lack of diversification and complete loss of capital. Key risks include, but are not limited to, limited operating history, limited diversification, risk of asset damage and lack of voting rights. Also, the adverse economic effects of the COVID-19 pandemic are unknown and could materially impact your investment in our securities. Investors should carefully review the risks located in the respective offering materials for a more comprehensive discussion of risk.


During any such time that its offering circular has not been qualified by the Securities and Exchange Commission (the “SEC”), from time to time the Company may conduct “testing the waters” campaigns to gauge market demand from potential investors for an offering under Tier II of Regulation A of the Securities Act. No money or other consideration will be solicited, and if sent in response, it will not be accepted. No sales of securities will be made or commitment to purchase accepted until qualification of the offering circular by the SEC. An indication of interest made by a prospective investor is non-binding and involves no obligation or commitment of any kind. Any offer to buy securities may be withdrawn or revoked, without obligation or commitment of any kind, at any time before notice of its acceptance given after the qualification date. No offer to buy securities can be accepted and no part of the purchase price can be received without an offering circular that has been qualified by the SEC, which we urge prospective investors to read carefully.


From time to time, GenesisAI will seek to qualify offerings of securities under Regulation A. For offerings that have not yet been qualified, no money or other consideration is being solicited and, if sent in response, will not be accepted. No offer to buy securities of a particular offering can be accepted, and no part of the purchase price can be received, until an offering statement filed with the SEC relating to that series has been qualified by the SEC. Any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time before notice of acceptance given after the date of qualification by the SEC. An indication of interest involves no obligation or commitment of any kind.


Investment overviews presented on the Site may contain summaries of the purpose and the principal business terms of the investment opportunities. Such summaries are intended for informational purposes only and do not purport to be complete, and each is qualified in its entirety by reference to the more-detailed discussions contained in the respective offering circular filed with, and qualified by, the SEC.


GenesisAI does not offer refunds after an investment has been made. Please review the relevant offering materials and subscription documentation for more information.


An active trading market for any GenesisAI series interests may not develop or be sustained. If an active public trading market for GenesisAI securities does not develop or is not sustained, it may be difficult or impossible for you to resell your securities at any price. Even if an active market does develop, the market price could decline below the amount you paid for your securities. There is no assurance that the GenesisAI platform will provide an active market for resales of GenesisAI securities. Further, without the GenesisAI platform, it may be difficult or impossible for you to dispose of your securities. If the market develops for any GenesisAI securities, the market price of such securities could fluctuate significantly for many reasons, including reasons unrelated to performance, reasons relating to reports by industry analysts, investor perceptions or announcements by competitors regarding their own performance, as well as general economic and industry conditions.


For additional risk factors and disclaimer information, you can review our communications disclaimer at genesisai.io or invest.genesisai.io and our offering circular on file with the SEC.

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