A new AI infrastructure business called PIN AI has raised $10 million in pre-seed funding to build the world’s first open-source Personal Intelligence Network (PIN). The company, which has backers like a16z, wants to make a decentralized AI platform that protects users’ privacy and gives them full control over their personal data. The news comes at the same time as Apple’s recent release of its own AI answer, showing how competitive the two companies are.
PIN AI is an alternative to Apple’s AI that focuses on data safety and sharing. In standard models, tech giants like Apple and Google make money off of user data. PIN AI’s platform, on the other hand, lets users make money off of their own data. The platform can be used by more people because it works on more devices, even smartphones with less powerful specs. PIN AI uses advanced AI models and blockchain technology to let users safely control their data and for developers to make AI tools that work directly on users’ devices.
Ben Wu and Davide Crapis, who started the company, stress how important it is for users to own AI. Wu says that PIN AI gives people power by letting them make token rewards for the data they share, which is the opposite of the usual way of making money from data. Crapis says that this open-source platform will help users regain control over their personal information. This will help users get back a big chunk of the money that tech companies make off of user data.
PIN AI’s platform has a decentralized system that lets users’ personal AI helpers work on their devices without revealing their identities. The helper can do things across apps, like shopping or managing money, without putting the user’s info at risk. This change could shake up the way big tech companies usually make money by giving users more control over their data and making money off of it.
Leading study groups and blockchain creators will work with PIN AI to make its platform bigger and move its goal of making AI more accessible to everyone forward. The company is also in the a16z Crypto Startup Accelerator’s Fall 2024 group, which will help get its innovative technology into use faster.
