FundRequest partners with SingularityNET for AI integration

FundRequest partners with SingularityNET for AI integration

Blockchain News
February 9, 2018 by IBC Staff

The Blockchain enabled technology services industry has grown many leaps and bounds in the past two years. Its roots are in partnership and collaboration and we are starting to see this become more common among blockchain startups too. Take this one, between SingularityNet and FundRequest. SingularityNet is a marketplace for AI and FundRequest is a FundRequest is a decentralized marketplace built on open source collaboration. The two teams see collaborative opportunities, as both of them are decentralised platforms.

A joint release from both companies stated that SingularityNET is planning to use FundRequest to offer bug bounties and compensate developers for contributions. This partnership will allow the core SingularityNET development team to focus on the overall structure, while FundRequest’s platform will be used to source developers who can tackle miscellaneous bugs and issues that come up along the way. It is much more economically efficient than hiring another department to focus on one-off problems.

In turn, FundRequest will begin using SingularityNET’s marketplace to develop AI applications within its own platform. The two teams will partner together to collaborate on specific AI tools related to the FundRequest network. Some key areas of collaboration include.

  • Bounty Discovery – Independent developers can use an AI search to find jobs that best fit their expertise and demands
  • Monitoring the Reputation System – FundRequest will deploy a reputation system that scores each participant based upon work history and reliability. AI implementation will enable algorithm to police the system for any errors or miscalculations.
  • Help-Bots – AI technology will allow FundRequest to create help-bots who will manage the onboarding process and deal with customer service requests.
  • Disputes and Conflicts – AI powered workflows can help manage dispute flows when there are conflicts between funders and solvers.

An unlikely alliance

While speaking about the nature of their partnership, a company representative said, “Though the companies have different applications–SingularityNET for AI technology and FundRequest for crowdsourcing/funding software development–they both run decentralized marketplaces. Thus while the companies have dissimilar focuses, they can each learn from each other on what works and what doesn’t work in terms of marketplace discovery and operations. The partnership also opens up the possibility of networking across industries, a prospect that was previously untenable prior to the partnership.”

SingularityNet just recently concluded their crowdsale. The driving vision behind the company is that AI technology has yet to hit that sweet spot where it is affordable and easy to use, but also innovative and efficient.  In order to help improve the development efforts, they have partnered with another blockchain startup in the platform creation phase, FundRequest.

AI + Blockchain = Win

According to a September 2016 Accenture report, artificial intelligence (AI) will “double [the] annual economic growth rate in 12 developed economies and boost labour productivity by up to 40 percent by 2035.” An IDC report notes, “By 2018, 75% of developer teams will include cognitive / AI functionality in one or more applications.” It’s no wonder companies of all sizes–from Microsoft and Google down to blockchain powered startups–are working on AI products, systems, and implementation.

The joining of efforts by two promising blockchain startups can be an exciting prospect for both blockchain technology and AI research. By using each other’s strengths, the SingularityNet/FundRequest partnership aims to allow AI contributors and companies to make the most of the incredibly powerful technology.

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