GenesisAI

The Global AI Network. Buy and sell AI technologies at scale.

Introduction

“We would like to lay a foundation for the creation of Artificial General Intelligence and smash the current oligopolistic system of a few large companies basically owning all the AI.”
Archil Cheishvili
CEO @ GenesisAI

Deal Highlights

  • Harvard founders with work experience at Google and Bridgewater Associates.
  • Globally recognized investors and advisors with multi-billion-dollar exits, including former Dean of MIT Engineering and Harvard/MIT professors.
  • Bringing AIs from all around the world to defeat COVID and get humanity back on track.
  • The market for AI services is estimated to reach $5.5 trillion by 2027.
  • If we achieve our vision, we believe GenesisAI has the potential to become one of the most valuable technologies of all time.
  • A global AI network that just works.

Founders

Archil Cheishvili
CEO & Business Development

Economics, Harvard University. Previous experience at Bridgewater Associates. Serial entrepreneur. Recognized by media outlets including the New York Post, Forbes, and Yahoo Finance.

David Fan
Engineering & Product

Computer Science, Harvard University. Senior Software Engineer work experience at Google.

Mina Pascalito Nassif
Engineering & Product

PhD in Applied Physics, MS in Computational Science and Engineering both from Harvard John A. Paulson School of Engineering and Applied Sciences. Published multiple scientific papers and raised over $1 million in research grants.

Recommendations

“GenesisAI is fighting back against AI oligopolies by creating the first, open access, marketplace of AI that does not exclude or discriminate against anyone. Its benefits will be shared by all.”
Neil Flanzraich
Investor in GenesisAI. Lead Independent Director of Chipotle. Former President of Ivax Corporation (acq. by Teva for $10B). Executive Committee Member of Syntex Corporation (sold to Roche Holdings for $5.3 B).

Problem

When we were developing Palatine Analytics (a startup selling AI-powered employee performance monitoring systems), we learned that AI development is hindered by two fundamental problems:

  • AI development is expensive
  • Independent AI developers can neither monetize nor share their code.

    Today, there are only around 10,000 AI developers in the world. 99% of companies cannot afford to hire their own team of AI engineers to create in-house AIs, nor do they have enough technical capabilities to correctly determine from which open-source APIs to grab existing AI code.

    Astoundingly, there is no way for AIs to exchange data, learn from each other, leverage their capabilities, and trade services— let alone judge the quality of AIs (there is no reputation system). AIs are operating in a closed environment.

Solution

So we built GenesisAI.

GenesisAI is a Machine Learning protocol. On top of this protocol, we are building a marketplace for AI products and services - an Amazon for AI services. The marketplace, which includes a built-in reputation system, connects companies in need of AI services, data, and models with companies interested in monetizing their AI tech. Initially, GenesisAI is focused on asset management space and recently entered the healthcare sector.

Amidst the global pandemic, all of us need to do our part to combat COVID. We need a global coordinated effort.

After getting overwhelming demand, GenesisAI decided to enter the healthcare sector. We are bringing AIs from all around the world to help battle COVID and aid humanity.

GenesisAI team is gathering AIs to develop detection, testing, diagnostic and treatment.

The initial focus will be on:

  • AI that identifies people who are at high risk of getting really sick if they were to become infected
  • AI that predicts future outbreaks
  • AI that simulates the impact of different government policies

Market

Market
The AI service market is projected to reach $5.5 trillion by 2027.

Transparency Market Research

Companies want this.

We have a beta product and have agreements with over 20 AI supply-side firms who wish to place their product on our marketplace and 25 demand-side firms who wish to purchase products on our marketplace.

Why Invest?

All in all, if you believe in supporting our mission, join us and help us enable anyone in the world to access AI.

  • Large corporations will no longer be the only entities able to develop and utilize AI. We believe in making AI accessible: “for the people, by the people.”
  • By linking AI services with each other and increasing the supply of AI services, GenesisAI provides a web platform that offers low-cost AI services. This makes AI technology more efficient and affordable for businesses.
  • Our technology enables different AIs to communicate with each other, exchange data and trade services. Anyone can develop and purchase AI services.

Invest to help us further develop our promising technology. The time is now.

FAQs

What does your company do?
We allow you to buy that top-of-the-line natural language processing technology that your company always wanted rather than building it yourself. You don't need a team of AI experts to use AI to your advantage -- just buy the software on our marketplace. We provide an efficiency boost to the market as a whole by making AI accessible and usable for numerous various-sized businesses.
Where will your company be in 5 years?
We hope to abstract beyond the technical expertise needed to implement AI and allow companies with no technical knowledge to tap into the benefits of this wonderful technology. Our goal is to get rid of an oligopolistic system where a few large tech companies hold a strong majority of the AI industry, and we hope to be significantly closer to this vision in five years.
Why did you choose this idea?
We would like to lay a foundation for the creation of Artificial General Intelligence and smash the current oligopolistic system of a few large companies basically owning all the AI.
How do you make money?
We will provide the protocol that allows people to make transactions on the platform, and we plan to take a small percentage of the transaction value. Our revenue forecasts are based on a transaction fee of 30%, which is likely to be the final value we will charge. This charge is very low if we compare it with how much money you would spend in marketing to get the same transaction volume you are getting on GenesisAI.
Can you make an example of AI interoperability (when you say that simple AI services can be combined to perform more complex services?
Say Node A (a hotel) pays Node B to get a summary of customer behavior depending on different variables and recommendations to increase the customer base. Node B can pay Node C for a service that uses pattern recognition to recognize the hotel's customer behavior and customer pain points. After receiving the output from Node C, Node B can use the input from Node C to come up with promotions that address the main pain points.
How do you solve privacy issue (companies not wanting to send sensitive data)?
Data will be encrypted in a way that machine learning code developers can still use it to train their codes without accessing sensitive information. No sensitive information will be shared with developers.
How will you use the capital you raise?
Our top priority is to build a robust technology. The team plans to scale the platform as we expect the number of customers to quickly rise, requiring us to invest in scalable IT infrastructure. Our second priority is dealing with sales & marketing and spending all the resources that are necessary to find the best AI services, data providers, and clients.
When do you expect to generate revenues?
Right now, we are not trying to generate revenue, but we are quickly reaching our monthly product development goals to build something that works and gets people to believe in the platform. We are doing a great job in generating pre-registrations for companies that believe in our platform and will join at the time of the launch. Our detailed revenue forecast until 2025 can be found in our slide deck (attached), though projections are not guaranteed.
What is Artificial Intelligence?
In simple words, Artificial Intelligence is an area of computer science that tries to simulate human behavior in a machine. This concept is revolutionary because it starts from the assumption that a well-functioning AI code won’t need any human direction. For example, if we run a big amount of online data to generate a market research on a particular industry, we won’t have to tell the code which trends to analyze, but the code will recognize the trends for us.
What problem does GenesisAI solve?
There is no communication between AIs; there is no way for AIs to exchange data, trade services, learn from each other, or expand their own capabilities. We match unused resources (in-house developed AIs and open-source Github AI code) with companies in need of these resources. The connector of these two parties will unlock trillions of dollars in market value.
Why your team is uniquely qualified to solve this problem?
Our team has the right mix of what it takes to solve this problem:
Founders – studied computer science and economics at Harvard, and long work experience in the AI industry and in companies like Google and Bridgewater.
Advisors – 2 multi-billion-dollar exits, former Dean of MIT Engineering, $310M exit, MIT AI/ML professor, 2 Harvard computer science professors, 2 Harvard Business School professors
What is the difference between AI and beneficial Artificial General Intelligence (AGI)?
Artificial General Intelligence is the final goal of everyone that works in the AI space. Narrow Artificial Intelligence is a code that performs a certain task, like image or speech recognition, which are two tasks typical of the human brain. AGI would come from the combination of all these narrow tasks, with the ultimate goal of creating a mastermind (the AGI) that is able to perform any task that our brain is able to perform (and more).
Why would companies not buy services directly from sellers’ website? Why do they need us?
By using our services, we expect companies will have access to a number of services that are currently out of their reach for network reasons, geographic reasons, or other reasons. When they access the marketplace, they can search for the service they want, and our system is designed to couple them with some existing provider, similar to how Uber matches drivers and riders. This system prevents companies from skipping us, because we plan to couple them with the service provider, and we anticipate they will rely on our platform to evaluate service quality and choose the most appropriate service from a numerous set of services.
How do you guarantee liquidity to equity investors?
We anticipate our first years of operations will focus on organic growth, revenue stabilization, and achieving breakeven. When these goals are achieved, we hope to start thinking about liquidity events that may be able to give investors the opportunity, if they want, to generate sizable returns (but cannot guarantee that).

Use of Proceeds

If the offering's maximum Reg CF allocation of $444,609 is raised:

UseValue% of Proceeds
Payroll$244,55055.0%
Sales and Marketing$147,15133.1%
Legal$23,7125.3%
Accounting$7,4101.7%
Intermediary fees$21,7864.9%

If the offering's maximum amount of $2,499,998 across Reg. CF and Reg. D is raised:

UseValue% of Proceeds
Payroll$1,375,08255.0%
Sales and Marketing$827,41733.1%
Legal$133,3345.3%
Accounting$41,6651.7%
Intermediary fees$122,5004.9%

Terms

This is a side-by-side offering of Common Stock, under registration exemptions 4(a)(6) and 506(c), in GenesisAI Corporation. Up to $444,608.71 may be raised under the 4(a)(6) exemption. Netcapital will determine which exemption applies to your investment and notify you before you complete your investment. For any 506(c) investment that is less than $5,000, the Company has agreed to pay a processing fee of $245 in lieu of the 4.9% intermediary fee.

The amount raised under the two exemptions must total at least $10,000 by October 30, 2020 at 11:59pm ET. If the total doesn’t reach its target, then your money will be refunded. GenesisAI may issue additional securities to raise up to $2,499,998, the offering’s maximum.

$10,000 minimum
$816,447 raised

If the side-by-side offering is successful at raising the maximum amount, then the company’s implied valuation after the offering (sometimes called its post-money valuation) will be:

4,758,093 shares
×
$3.11 per share
$14,797,669implied valuation

Pitch Deck

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Financials

These financial statements have been audited by an independent Certified Public Accountant.

SEC Filings

The Offering Statement is a formal description of the company and this transaction. It’s filed with the SEC to comply with the requirements of exemptions 4(a)(6) and 506(c) of the Securities Act of 1933. Similar information is sometimes offered in a Private Placement Memorandum for 506(c) offerings.

Understand the Risks

Be sure to understand the risks of this type of investment. No regulatory body (not the SEC, not any state regulator) has passed upon the merits of or given its approval to the securities, the terms of the offering, or the accuracy or completeness of any offering materials or information posted herein. That’s typical for Regulation CF offerings like this one.

Neither Netcapital nor any of its directors, officers, employees, representatives, affiliates, or agents shall have any liability whatsoever arising from any error or incompleteness of fact or opinion in, or lack of care in the preparation or publication of, the materials and communication herein or the terms or valuation of any securities offering.

The information contained herein includes forward-looking statements. These statements relate to future events or to future financial performance, and involve known and unknown risks, uncertainties, and other factors, that may cause actual results to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties, and other factors, which are, in some cases, beyond the company’s control and which could, and likely will, materially affect actual results, levels of activity, performance, or achievements. Any forward-looking statement reflects the current views with respect to future events and is subject to these and other risks, uncertainties, and assumptions relating to operations, results of operations, growth strategy, and liquidity. No obligation exists to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

More Info

Updates

  • Oct 26, 2020
    Netcapital published a blog post about us! AI...

    Netcapital published a blog post about us! AI is having an incredible impact on our lives, and the benefits of this technology should be shared by all! Currently, the benefits mainly accrue to a few large companies. To read more: https://netcapital.com/news#why-we-are-building-genesisai Invest Now!

  • Oct 20, 2020
    Every day we are becoming stronger and...

    Every day we are becoming stronger and stronger. We are getting closer to achieving our vision of shared AI for all!

    Check out a new short video where I am talking more about GenesisAI and answering investor questions. https://youtu.be/i3uwtmf1-i4. Invest Today!

  • Oct 9, 2020
    GenesisAI video has over 135,000 views on...

    GenesisAI video has over 135,000 views on Youtube! We are getting great momentum on all fronts. It clearly explains what we do and talks about our vision which is shared AI for all! https://youtu.be/gC-xw20hG5A

    This is just a beginning! Join us! https://netcapital.com/companies/genesisai

    Watch
  • Sep 30, 2020
    We broke the $600k raised mark TODAY! I would...

    We broke the $600k raised mark TODAY! I would like to welcome 600 new investors! This is bringing us closer to the dream of shared AI for all! We continue our fight against big tech AI oligopolies. The benefits of AI should be shared with all. Shared AI for the people and by the people!

    Join GenesisAI!

  • Sep 25, 2020
    GenesisAI Webinar on Youtube! I had a pleasure...

    GenesisAI Webinar on Youtube! I had a pleasure speaking with Rob from Netcapital about our roadmap, problems we are solving, and how we plan to win!

    Webinar link: https://youtu.be/7CYYt8xzJ4k

    Join our current round! The round is filling up fast! Over $500k raised already!

    Visit
  • Sep 22, 2020
    GenesisAI featured in InvestorPlace! We have...

    GenesisAI featured in InvestorPlace! We have been getting great exposure and overwhelming interest! Check out article about us at InvestorPlace:

    https://investorplace.com/2020/07/why-futurists-may-want-to-invest-in-genesisai-stock/

    Join AI revolution!

    Read more
  • Sep 18, 2020
    We are thrilled to announce that the premier AI...

    We are thrilled to announce that the premier AI and data company - Datanautix has joined our platform as a supplier!

    Datanautix aims to bring its expertise in AI specifically in Natural Language Processing (NLP) to help companies make sense of thousands of pages of text data

    Forward only!

  • Sep 15, 2020
    Our round is filling up faster! Average weekly...

    Our round is filling up faster! Average weekly raise up by ~115% in the last 3 weeks. The average amount of funds raised each week has been consistently going up and has more than doubled! We are getting even more momentum!

    Join the Artificial Intelligence revolution!

    The future is here!

  • Sep 11, 2020
    GenesisAI featured in Business Insider and...
  • Sep 7, 2020
    We reached 300 investors! Over $250k committed!...

    We reached 300 investors! Over $250k committed! We have one of the best momentums currently in crowdfunding! I would like to thank every one of you for participation! We will win!

  • Sep 3, 2020
    GenesisAI is proud to announce that RebootAI...

    GenesisAI is proud to announce that RebootAI has just joined the marketplace as a new partner! RebootAI will bring its expertise in AI to help companies make sense of which of their problems can be solved by using AI.

    To learn more visit:

    https://www.reboot.ai/

    https://www.genesisai.io/

    Join us!

  • Aug 16, 2020
    Hello GenesisAI community! In a short time...

    Hello GenesisAI community!

    In a short time after our public launch, we already raised over $100k from around 100 investors! I would like to thank everyone! Thank you for joining us in building the future of AI! Together we are stronger! The road ahead is bright.

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