Fetch.ai, Ocean Protocol and SingularityNET to Partner on Decentralized AI – PYMNTS.com

Three entities in the field of artificial intelligence (AI) plan to combine to create the Artificial Superintelligence Alliance.

Fetch.ai,Ocean ProtocolandSingularityNETaim to create a decentralized alternative to existing AI projects controlled by Big Tech, the companies said in a Wednesday (March 27)press release.

The proposed alliance is subject to approval from the three entities respective communities, per the release.

As part of this alliance, the tokens that fuel the members networks $FET, $OCEAN and $AGIX will be merged into a single $ASI token that will function across the combined decentralized network created by this partnership, according to the release.

The combined value of the three tokens is $7.6 billion as of Tuesday (March 26), per the release.

The creation of the largest open-sourced, decentralized network through a multi-billion token merger is a major step that accelerates the race to artificial general intelligence (AGI), the release said.

The Artificial Superintelligence Alliance also brings together SingularityNETs decentralized AI network, Fetch.ais Web3 platform and Ocean Protocols decentralized data exchange platform, according to the release.

The deal provides an unparalleled opportunity for these three influential leaders to create a powerful compelling alternative to Big Techs control over AI development, use and monetization, the release said.

Leveraging blockchain technology, it will turn AI systems into open networks for coordinating machine intelligence, rather than hiding their inner workings from the public, according to the release.

The alliance will also facilitate the commercialization of the technology and enable greater access to AI platforms and large databases, advancing the path to AGI on the blockchain, the release said.

In another recent development in this space,Stability AIannounced Friday (March 22) that its founder and CEO Emad Mostaque has resigned as CEO and stepped down from the companys board to pursuedecentralized AI.

We should have more transparent & distributed governance in AI as it becomes more and more important, Mostaque said when announcing his move. Its a hard problem, but I think we can fix it The concentration of power in AI is bad for us all. I decided to step down to fix this at Stability & elsewhere.

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Fetch.ai, Ocean Protocol and SingularityNET to Partner on Decentralized AI - PYMNTS.com