Effect.AI May Update

Effect Network

Published in

Effect Network

6 min readMay 23, 2019

“Keep your eyes on the road, your hands upon the wheel”
— Jim Morrison

BULLETS

New improved Road Map released
The EFX Token Swap Recap
YES!Delft Expension Program
New Requestor: ORTEC
Long awaited AMA: live tomorrow on YouTube

New improved Road Map released

With the almost unlimited possibilities the EOS blockchain gives us we are now lazer focused on the future road map of the Effect.AI project. Over the past few weeks since the EFX Token Swap we have been dialing in what to build into the future of The Effect Network and sharply detailing the timelines. From now to the short term the focus will greatly concentrate on the Effect Force platform to realize its full potential. We will greatly grow our business development and marketing efforts to onboard new requestors as our primary focus. We will be giving great community incentives to help in our efforts.

Coupled with this focus is to gather a wide range and diverse WorkForce with various qualifications and skill sets to offer requestors. We will do this by opening up worker registrations and have an abundance of qualifying tasks to ensure the right people are ready for the right jobs.

We will be concentrating on the NLP (Natural Language Processing) needs of requestors leading into 2020. NLP is a branch of Artificial Intelligence that focuses on written and audible language. NLP is quickly being adopted by 100’s of types of companies to build all sorts of automated products into their processes. Because our WorkForce is well versed in languages Effect Force can offer solutions most products can’t in the area of NLP. NLP tasks include sentence structuring which is responsible for creating Chat Bots, text extraction is a type of task for document analysis, sentiment analysis which helps ML models identify customer satisfaction and the list goes on. If you are a registered active worker of the Force you have surely taken part in several types on NLP tasks.

There is also a secret weapon the Effect.AI Team is building that will bring Effect Force to literally millions of requestors attention immediately after deployment. We call this initiative Project X. Look out for the release mid summer this year!

Along side Effect Force development we will be working on releases of the Effect Smart Market and the Effect DAC with some of our new friends in the EOS ecosystem. The short, mid and long term vision of The Effect Network has never been so clear. Check out the new improved Effect.AI Road Map below or view it on the website: https://effect.ai/roadmap

The EFX Token Swap Recap

On April 30th the Effect.AI team deployed the decentralized EFX Token Swap Portal. With internal bets on the number of people and EFX that will be swapped within the first month, we were excited to track the numbers. Our bets were placed between 47–70 million EFX being swapped within the first month of the Swap. The numbers as of writing are over 148 million have been swapped far exceeding all of our expectations! Another prediction was the percentage of EFX that would be staked. Again far exceeding the expectations of the team with predictions between 15–25%, we currently sit at 62.6% of all swapped tokens staked.

With the opening of the EFX Token Swap the team also released the Effect Dashboard, the Effect Staking Protocol with an Accelerated Growth Exponent (AGE) feature and the NFX DAC/Governance token. Check out the detailed YouTube video of the entire EFX Token Swap Recap: https://www.youtube.com/watch?v=jzRZR7nOG2w

YES!Delft Expansion Program

Effect.AI was invited to join the YES!Delft expansion program early this year. The program put our team in front of some of the biggest European companies to showcase Effect Force and what it can do for them. Every Friday from the end of February to the beginning of May, Effect.AI joined the YES!Delft in the AI validation lab. YES!Delft is a well-renowned startup incubator here in The Netherlands. They are particularly known for building startups focused on hardware. They are now branching out into software. The validation lab is designed to assist and educate startups on understand if there is a need for their product/idea in the market and from their formulate how best to build our your product based on the information you’ve gathered in the validation phase.

Jesse and Sam went to Delft every week for 10 weeks to build out where Effect Force can really add value within the data annotations market. After speaking with over 45 potential customers they concluded that Natural Language Processing is the sector within AI that Effect Force will be focused on. This is because the Force allows requesters to connect with a workforce that currently has over 30 languages within it, primarily in Europe. It’s become clear that this is of great value to our potential customers. Recently, you would’ve seen NLP based tasks on Effect Force.

To conclude the AI lab, Jesse and Sam pitched at the final day in front of a huge group of potential customers. From this Effect.AI is now in exciting talks with some very large financial and utility companies here in The Netherlands to get them using the platform and show them the power of the Force.

New Requestor: ORTEC

To complement our focus on Natural Language Processing, we gained a project with Ortec — a world leader in data analytics! The project was to determine whether impact data was present in a sentence which was found in a disaster relief report. These annotations were a vital part of a larger project for Ortec. Here they are assisting one of their valued partners with streamlining and automating the disaster relief fund application process. Here they will develop an algorithm which pulls out vital information in an application to allow for concise and fast decision making.

We opened the sentence annotation project by giving all Effect Force workers the chance to qualify for the campaign tasks — the qualification stage is now a vital part in ensuring Effect Force delivers high quality. The pass rate was 9/10, 138 workers completed the qualification and 71 workers qualified, who received a text extraction badge! For those that qualified, they were then able to complete the live campaign tasks. They came in 5 batches. First starting with the proof of concept phase where 2 sets of repetitions were performed and then the live campaign where 3 sets of repetitions were completed. Overall, 44,137 tasks were completed on the Force in 4 days! The repetitions are also a vital part of the qualification phase and this method returned at least 90% of sentences with conclusive results. We presented the Proof of concept annotations last Tuesday which went very well! We will be discussing the campaign results this afternoon…there have already been talks of more collaboration between Ortec and Effect.ai. Stay tuned!

This has been a fantastic project to work on and our Effect Force workers have shown the exceptional talent and potential of what the Effect Force platform can do! Great work to everyone involved!

Long awaited AMA: live tomorrow on YouTube

With the new Road Map just released and the EFX Token Swap behind us, we are ready to answer any and all of your questions. Chris Dawe, the CEO of Effect.AI, will host a live AMA (Ask Me Anything) at 5pm CEST tomorrow Friday May 24th on the Effect.AI Youtube Channel (youtube.com/effectai)

Thanks for reading!