Gensyn is not like other AI companies. It is a blockchain-based computing resource provider that specializes in artificial intelligence systems. By using a unique protocol, Gensyn allows developers to design AI systems on a range of hardware, including personal gaming computers and smaller data centers. The cryptographic verification network included in the protocol allows users to independently confirm that machine learning tasks sent via the network have been completed.
Co-founder of Gensyn Ben Fielding stressed that high processing power is required to fully realize AI’s promise. Fielding thought that a select few people shouldn’t have this kind of power. Rather, it should be available to all at market-determined prices. According to Fielding, the development of “dangerously biased technology serving the many but built by the few” cannot occur without such universal accessibility. He is in favor of a world where everyone can help create compatible, useful AI.
DECENTRALIZATION IS ESSENTIAL TO UNLOCKING POTENTIAL
Gensyn’s machine learning methodology is unique in that it leverages the decentralization idea. Co-founder Harry Grieve noted that supply and demand determine a decentralized network’s worth. The amount of compute supply is greatly increased by decentralization, which links hitherto idle hardware from all over the world. This link addresses the issue of limited resources, taking us one step closer to a future in which artificial intelligence will be accessible to all.
The increasing interest in artificial intelligence is another proof that Gensyn’s work is still relevant. AI has the potential to be beneficial for many industries, including media, retail, manufacturing, and financial services. For example, the recent $1 trillion valuation of Nvidia, a company that makes computer chips necessary for the graphics processing units (GPUs) at the center of artificial intelligence (AI) systems, emphasizes the growing importance and financial potential of AI.
The roadmap for Genzyn focuses on expanding workforce and advancing adoption.
Following the successful completion of the Series A funding round, Gensyn has raised over $50 million in total. With the help of this finance, the company intends to hire more protocol and machine learning engineers, grow its workforce, and expedite protocol adoption. Renowned investment firms CoinFund, Canonical Crypto, Protocol Labs, and Eden Block, as well as a large number of venture capitalists and angel investors in the cryptocurrency and artificial intelligence space, joined A16z in the funding round.
While acknowledging the incredible advancements in AI, Ali Yahya, General Partner at a16z crypto, also underlined the necessity of computational capacity, which frequently offers more established tech companies an advantage over startups in the AI race. “We believe nobody combines the knowledge and cultural understanding of both the AI and crypto cypherpunk worlds better than Gensyn,” he said, sounding optimistic about the company’s ability to level the playing field. “We look forward to partnering with them to make infrastructure for AI much more widely accessible.”
Gensyn’s groundbreaking approach to decentralized machine learning demonstrates the power of innovative thinking. Using blockchain technology, Gensyn aims to democratize access to AI and allow everyone to take part in its development. Thanks to recent funding and industry support, Gensyn is in a good position to upend the AI landscape and make machine learning more accessible.