Elon Musk, well known for his outspoken views on artificial intelligence and his calling AI as “Our biggest existential threat” has just invested 6 million USD into TensorBit. TensorBit is one of the latest hot ICOs and promises a proof of work system which leverages the power of blockchain and machine learning/artificial intelligence. In the past Musk, has invested into other AI companies such as DeepMind simply to keep tabs on the progress of AI. This is most likely a similar play that Musk is making with TensorBit. If TensorBit can successfully deliver its product, it would mean a disruption in the AI industry as it would allow innovation to occur at a much faster pace than what is already possible. What this means is that the existential threat Musk has spoken about could become a reality sooner rather than later.
All the paranoid talk aside, this is a big development for TensorBit which just recently started their ICO crowdsale. TensorBit has a concept which utilizes the collective computing power of GPUs which are normally associated with blockchain mining, and offering incentives for miners to start using that computing power to solve machine learning and artificial intelligence computations. Companies in the past have attempted to harness this power but ultimately failed as the latency of sending information from node to node made it unfeasible. TensorBit uses what they call Log-Transformations to compress the information for node communication and renders the past latency issues as moot. TensorBit claims that this technology will reduce the time it takes to train artificial intelligence from weeks to hours.
This is also a large development for the ICO world which has faced criticism recently with China banning ICOs outright. If someone as high profile as Musk is starting to invest in promising ICOs, that means there is a good chance companies like these are the future. Cryptocurrencies have made big waves in the financial industry recently as a way to store wealth and conduct transactions. Something that the millennial generation is embracing heavily. Just a few years ago, a crypto currency such as bitcoin was trading at only $12.00, and now it has recently reached $5,000. Those are some huge gains, and further evidence that crypto coins are here to stay.
It certainly seems that Musk is bought into the idea of ICOs and TensorBit. Maybe he just wants to keep further tabs on the AI industry with his investment as he has done in the past, or perhaps Musk has more interest in helping to run another innovative company and capitalize on the massive potential in the machine learning and artificial intelligence in the coming years.
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