The European Union (EU) has awarded a $1.6 million grant to a small American tech firm named AIxBlock. The company constructs tools to make people create and utilize artificial intelligence (AI) in an open and private manner.
The EU will also permit AIxBlock to seek up to $67 million in additional funding in the future. This action indicates the EU is interested in financing AI tools that are open, fair, and community-driven, rather than depending on large tech corporations.
A Different Approach to Building AI
As opposed to giant tech firms maintaining full ownership of their AI systems, AIxBlock allows individuals to create and execute their own AI models based on pooled computer power from numerous sources.
Imagine many little computers working together, as opposed to one firm owning it all. You can also integrate AIxBlock with other apps and tools, making it beneficial for both casual users and companies.
And so far, over 12,000 individuals have registered, and large companies are utilizing the platform too, all on a zero ad spend for the company. Part of the reason it has been successful is that it safeguards user data and privacy, which is increasingly important to individuals and governments.
Helping Europe Build Its Own AI Future
AIxBlock is hoping to utilize vacant data centers in Europe, rather than constructing new ones. It benefits the environment, is cost-effective, and allows Europe to create its own robust tech systems.
AIxBlock also utilizes blockchain, an environment that assists with security, governance, and justice. Individuals who contribute towards making the platform better can receive rewards, dictate who receives access, and verify AI model and data quality.
AIxBlock will also allow the community to assist in making decisions through a collective known as a DAO (Decentralized Autonomous Organization). Thus, the platform will not be owned by a single person or company.
This investment is part of the broader EU GenAI4EU plan that will invest around $750 million to expand AI in critical European sectors.
FAQs
1. What is AIxBlock?
AIxBlock is an American firm that assists individuals in constructing and implementing their own AI models through pooled computer systems.
2. Why did the EU fund them?
The EU prefers to encourage open, private, and equitable AI tools, not to be dependent on massive tech firms.
3. How much funding did AIxBlock receive?
They got $1.6 million today and can request up to $67 million more.
4. What is unique about AIxBlock?
It employs numerous small computers rather than large servers and provides individuals with complete control over their AI tools.
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