Barry Silbert launches Yuma, a decentralized AI project aiming to rival Google and OpenAI, utilizing the Bittensor blockchain to create an open network of AI services. Yuma seeks to overcome challenges associated with resource acquisition and user interface design, promoting the idea of democratizing AI similar to the evolution seen in cryptocurrency.

Barry Silbert, the billionaire entrepreneur known for his significant involvements in finance and cryptocurrency, is venturing into decentralized artificial intelligence with his new project, Yuma. Previously recognized for establishing the Digital Currency Group and investing in Bitcoin at a mere $11 per coin, Silbert is now pivoting towards challenging tech giants like Google and OpenAI. Yuma aims to decentralize AI technology, mirroring the Internet’s evolution from proprietary services to an open network. The initiative is anchored on the Bittensor blockchain, which incentivizes contributions to a decentralized AI infrastructure through a token called TAO.

Yuma’s strategy emphasizes building a network of decentralized intelligence and computation services, fostering around 60 applications, with aspirations for thousands more in the future. Despite the prevailing skepticism regarding the viability of decentralized AI against established players with vast resources, Silbert remains optimistic. He underscores the necessity for a democratized approach akin to Bitcoin that enables decentralized ownership of intelligence rather than allowing major corporations to dominate this emerging field. The project’s success hinges on overcoming significant technical challenges, such as resource accumulation and user interface complexities, but Silbert expresses confidence in the potential for innovative solutions to emerge from AI itself.

In summary, Silbert’s bold move into decentralized AI through Yuma signifies a potential shift in the landscape of artificial intelligence, offering an alternative to the centralized models predominately controlled by large technology firms. The endeavor taps into the ethos of decentralization celebrated in cryptocurrencies and may pave the way for a more open and accessible AI future.

Barry Silbert began his financial journey as the youngest stockbroker at age 17, transitioning from Wall Street to creating the alternative asset platform Second Market. His significant investment in Bitcoin laid the foundation for his crypto conglomerate, Digital Currency Group. Recognizing the potential for innovation beyond cryptocurrencies, Silbert aims to disrupt the AI sector with Yuma, promoting a decentralized model akin to historical shifts in technology, such as the transition from monopolized Internet access to a more open web environment. The project’s reliance on Bittensor presents both opportunities and challenges for developing decentralized AI applications that can rival existing centralized systems.

Barry Silbert’s foray into decentralized AI through Yuma signals a compelling evolution in artificial intelligence, advocating for an alternative structure to large tech companies’ control. By leveraging Bittensor’s framework, the project seeks to democratize access to AI services and foster a diverse ecosystem that resonates with the principles of decentralization established by Bitcoin. Despite facing significant obstacles, the potential for innovation could redefine how AI is developed and utilized across industries.

Original Source: fortune.com

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