Gensyn is different from other AI businesses. It is a provider of computing resources built on blockchain and devoted particularly to AI systems. Gensyn enables developers to create AI systems on a variety of hardware, such as smaller data centers and personal gaming computers, by employing a special protocol. With the use of the protocol’s cryptographic verification network, users can verify directly that machine learning tasks exchanged via the network have been successfully performed.
Ben Fielding, a co-founder of Gensyn, emphasized that a lot of processing power is needed to fully utilize the potential of AI. Fielding believed that this authority shouldn’t be reserved for a small group of people. Instead, it ought to be accessible to everyone at prices set at the open market. Such universal accessibility, in Fielding’s opinion, is necessary to avoid the development of “dangerously biased technology serving the many but built by the few.” He supports a society in which everyone can contribute to the creation of beneficial, compatible AI.
THE KEY TO UNLOCKING POTENTIAL IS DECENTRALIZATION
Gensyn’s approach to machine learning is distinctive since it makes advantage of the decentralization concept. Harry Grieve, a co-founder, observed that the value of a decentralized network increases with supply and demand. Decentralization connects previously underutilized hardware from around the world, which significantly improves the amount of compute supply. The problem of scarce resources is addressed by this connection, bringing us one step closer to a time when everyone can use AI.
The growing interest in AI serves as further evidence of the relevance of Gensyn’s work. Numerous sectors, including media, retail, manufacturing, and financial services, stand to benefit from AI. For instance, the recent $1 trillion valuation of Nvidia, a manufacturer of computer chips whose goods are essential to the graphics processing units (GPUs) at the core of AI systems, highlights the expanding significance and earning potential of AI.
ADVANCING ADOPTION AND EXPANDING WORKFORCE IS THE ROADMAP FOR GENSYN
Gensyn has raised more than $50 million in total after the Series A fundraising round was successfully completed. The business plans to use this funding to expand its team, especially with the hiring of protocol and machine learning engineers, and to hasten the adoption of the protocol. A16z was joined in the funding round by renowned investment companies CoinFund, Canonical Crypto, Protocol Labs, Eden Block, and numerous venture capitalists and angel investors in the fields of AI and cryptocurrencies.
Ali Yahya, General Partner at a16z crypto, praised the amazing developments in AI but also emphasized the need for computational capacity, which frequently gives more established tech businesses an advantage over startups in the AI race. He was upbeat about the ability of Gensyn to level the playing field and said, “We believe nobody combines the knowledge and cultural understanding of both the AI and crypto cypherpunk worlds better than Gensyn, and we look forward to partnering with them to make infrastructure for AI much more widely accessible.”
Innovative thinking is powerful, as demonstrated by Gensyn’s ground-breaking approach to decentralized machine learning. Gensyn seeks to democratize access to AI and enable everyone to participate in its development by utilizing blockchain technology. Gensyn is well-positioned to disrupt the AI environment and increase machine learning’s accessibility thanks to recent funding and industry support.