Our Research

Our Journey

In our journey from ideation, conceptualizing, designing the workflow to coding, etc we invested in our effort to research and validate our idea and the following will details some of the information we learnt:

MARKET PLAYERS CURRENTLY

Highlighted Players

There are many variations of artificial intelligence offered by different companies. Some focuses on natural language processing technology, comprising of proprietary large language models, some focuses on open-sourcing their AI models, with fine-tuning api and some offering ‘Retrieval Augmented Generations’ (RAG Tools), some offers an open platform for AI collaboration, such as HuggingFace, where people share datasets, fined-tuned models from the original LLM and various tools and AI application.

Then we have SingularityNet that instead of focusing on just LLM, they are opened to various types of AI, from computer vision to robotics, to self-driving automation systems, etc, and instead of an Collaborative platform like HuggingFace, it offers a marketplace for pre-built AI models. SingularityNet also has its own Crypto token called ‘AGIX’ where investors buy to be part of their ‘vision’ of building AGI (Artificial General Intelligence). These two organization are the inspiration for us.

Is There a Market?

The total equity funding ranging from model development, machine learning data curation, tools, etc amounts to roughly USD55 Billion as at 2023 and growing.

This indicate many large corporations supporting open-source concept is extremely serious about the potentials in this field. These corporations would have done their research well to be willing to fund such enormous sum into the field of Artificial Intelligence.

How about the market size?

We identified 70+ companies across 15 different categories building open-source tools to help enterprises bring AI projects from start to finish. (See the chart on the below)

Market Size
The global NLP market is projected to grow at a 6-year CAGR of 20%, from $11 billion in 2020 to over $35 billion in 2026. Growth will be driven by the availability of a large volume of datasets,
increased business interests in AI, advanced AI research, and frequent releases of more powerful language models with more model parameters.

https://www.cbinsights.com/research/open-source-ai-development-market-map/

According to Forbes Advisor survey, these are how AI tools are used:

• 56% are using AI to improve and perfect business operations
• 51% are turning to AI to help with cybersecurity and fraud management
• 47% harness AI tools in the form of digital personal assistants
• 46% are using AI for customer relationship management
• 40% are turning to AI for inventory management
• 35% are leveraging AI for content production
• 33% are using AI for product recommendation
• 30% are turning to AI for accounting assistance and supply chain operations.
• 26% harness AI for recruitment and talent sourcing.
• 24% are using AI for audience segmentation.

Year-on-Year 7-19% Growth expected

AI Market Statistics
It’s clear that AI is enabling many business segments across industries worldwide to grow. The potential for the AI market is untapped at this point. It’s hard to predict quantifiable market growth when AI tools, technologies and use cases are still being created.

Here’s what we know:
Forbes cites the global AI market size as valued at $136.55 billion in 2022.

NextMSC posts the global AI market size as worth approximately $207.9 billion in 2023

Here’s what we expect:
Similarweb reports the global AI market size is expected to be worth $407 billion by 2027. That’s a compound annual growth rate of 36.2% from 2022.

Precendence Research projects the U.S. AI market size to reach around $594 billion by 2032. That is a compound annual growth rate of 19% from 2023.

Source : https://connect.comptia.org/blog/artificial-intelligence-statistics-facts

Problems with existing AI Collaborative Platforms

From our research findings, we also discovered that current AI Collaborative Platforms faced the following pressing problems:

• Staying Ahead of the Curve: AI / NLP is constantly evolving. Catching up is a challenge
• Balancing being Open-source vs Business Needs : Making sufficient revenue is crucial
• Ethical Considerations: With AI models becoming more powerful can impinge on ethical concerns
• User-friendliness vs Complexity : UI/UX is the key hindrance that can prevent non-technical people from using
• eXplainable AI : This area is an increasingly important in this field of AI and currently it is still under research.
• Model Bias & Security : Pre-trained models can inherit biases from the data they were trained on and it can impinge on security aspect, especially when the model is prone to ‘hallucination’ or another issue called ‘over-fitting’. Because it is an open platform, it naturally has limits on adequate and fair verification.
• Scalability : An open platform where majority of the functions and activities are manual, human-driven process when it grows, we will have limits to how far it can scale.

Problem

While sharing most pressing issues with existing AI Collaboration platforms, we have a few more pressing issues to add:

• Artificial Intelligence although exciting, it remain almost an enigma (for now)
• Too many misleading assumptions and hype around Artificial Intelligence
• We just do not have sufficient genuine experts in this field, especially in algorithm and software development aspect, although we have quite a lot of people from the data science, fine-tuning aspect and from the hardware side of things, we simply do not have the technology to make AI affordable enough for mass market adoption.

Solution

EDUCATION

Forge a deep collaborative engagement between AI experts and general AI enthusiast to share knowledge and up-skill on Artificial Intelligence

• Democratize access to AI models, fine-tuning tools, techniques, computational resources and other cutting-edge technologies
• Form strong community bond between AI experts and general AI enthusiast with purpose of sharing knowledge, AI models, tools, datasets, etc.
• Use gamification concept to encourage all users to contribute positively to the platform growth and good governance to prevent malicious activities

What are the market potentials?

Fast Adoption

97% of mobile users are using AI-powered voice assistants. More than 4 billion devices already work on AI-powered voice assistants. 40% of people use the voice search function at least once every day. This means lots of people are trying out A.I. applications, especially Generative A.I.

Talent Supply Challenge

Estimates of the number of global AI developers vary widely, in part depending upon definition. There may be as few as 22,000 highly-trained AI specialists (Element) and up to 300,000 AI researchers and practitioners within broader technical teams (Tencent)

source : click here

AI Market To Reach $1,811.75 Billion By 2030

The global artificial intelligence market size is expected to reach USD 1,811.75 billion by 2030, expanding at a CAGR of 37.3% from 2023 to 2030, according to a new report by Grand View Research, Inc.

source : click here