Angelo Dalli is the CEO and Co-Founder at Umnai, a company that is creating new AI technology that can explain itself and its decisions with the objective of helping and assisting people rather than replacing them. As Umnai’s Chief Executive Officer, Mr Dalli is responsible for leading the company’s commercial, product, and technology strategy.
Mr. Dalli is also a speaker at the Malta AI & Blockchain Summit conference, happening on May 22 – 25 in Malta.
In this interview, Mr. Dalli shares insights on explainable AI, his company’s mission to develop AI technology that assists people rather than replacing them, combining AI and blockchain, and more.
Q: What is your background and how did you start Umnai?
I have been a graduate in Artificial Intelligence for a long time – almost 20 years. Back then, AI was not the hot topic that it has become today – I have always believed it will be the future of technology – it just took a bit longer than expected to get to this stage where the software, hardware and data availability are all now sufficient enough for AI to stay. In my previous ventures and companies that I have started, we had already started applying some AI to different industries – yet the current wave of useful applications have been largely generated by the next generation of hardware that allows fast and efficient processing of the type needed by AI systems.
Umnai is my ninth start-up – so I took quite a long time deliberating what to focus on before choosing to untangle myself from most operational commitments I had at that time and focus entirely on AI. The ideas for Umnai germinated over a long series of treks up in the Himalayas in Nepal – the peaceful atmosphere allowing me to think clearly and strategically to come up with a very solid and long term plan for AI innovation.
We are focusing on AI that can work together with humans and enter into an interactive dialogue with them, ensuring that people can examine the results of the AI and correct it, just like humans mentor children and other humans.
Q: Umnai’s vision is to “develop the next generation Artificial Intelligence technology that aims to assist, rather than replace people”. Can you elaborate more on that?
Umnai is creating new technology that has the potential to disrupt the AI industry completely, affecting so many different software and hardware verticals that the potential upside is very substantial. We are focusing on AI that can work together with humans and enter into an interactive dialogue with them, ensuring that people can examine the results of the AI and correct it, just like humans mentor children and other humans. In this way, people will work hand-in-hand with AI systems, using the AI to improve their productivity and freeing up precious time to be more creative and innovative. We are currently in the process of patenting our technology so we are rather limited in the amount of detail that we can reveal at the moment – watch out for announcements near the end of this year.
Q: What is explainable AI? Why is explainable AI important?
Explainable AI is AI that can explain the steps it has taken to come to an answer, together with the basis for its decision and any factors that have been used in coming up with those answers. Current narrow AI simply gives you an answer, without any explanation – this behaviour and lack of transparency can lead to a backlash against AI and also will lead to issues of trustworthiness as no one in their right mind would blindly follow an AI system’s recommendations without having a proper explanation and insight into the process that came up with such an answer. This is very important for regulated industries, such as healthcare, law, finance, gaming, and so on, where regulators world wide seem to be favouring the introduction of explainable AI in all regulated industries.
AI being able to explain itself is a key milestone if AI ever wants to be a collaborative tool or partner with humans, integrating better with human society – otherwise, it will be forever relegated to restricted and narrow applications that do not meet the public’s perception, needs and expectations of future AI systems.
Q: In which domains do you see the biggest impact for explainable AI in the coming years?
Explainable AI will firstly impact all regulated industries and also areas where there is a need for mission criticality and explanation. Anything that has an impact on human life (for example, driverless cars – that may cause accidents), or is required to make a significantly important decision will benefit from having explainable AI technology. The impact will be profound as people will get used to asking AI for explanations, and by following its logical processes learn when to trust its judgement or override it. AI systems are not as perfect as some hype makes them out to be – currently there is a lot of work needed to select the right data, make sure that the right features are selected and modelled, and also to train and re-train the model to keep it updated. Umnai’s solution allows for human knowledge to be directly blended with AI knowledge, allowing for the impact to be magnified significantly further.
AI being able to explain itself is a key milestone if AI ever wants to be a collaborative tool or partner with humans, integrating better with human society.
Q: What is the AlphaStars initiative?
The Umnai AlphaStars initiative is to have a group of select early adopters who start using Umnai’s technology much before the general market, getting the early adopter benefits while in turn providing quality feedback that will shape the productization of the technology for different verticals and industries. We are slowly working with different partners and opening up the initiative to innovative companies who are completely committed to using AI as part of their core business and who have a valuable problem to solve using Umnai’s solutions.
Q: Tell us about the Umnai team.
The Umnai team has been hand-picked by myself to represent the core nucleus of the team that will eventually grow to a much larger team in the coming 2-3 years.
Virtually everyone in the team has known each other for more than 3 years, with some relationships going back more than 12 years. This is a big advantage in a world where startups tend to have a group of people who didn’t know each other that well and also goes against the present day concept of changing jobs every so often – we do not believe in such an attitude and my experience as a serial entrepreneur has showed me the importance of having a strong and loyal core in the team that enables the company to move forward fearlessly and at a high speed without friction.
The core team is supplemented by a world class advisory board having over 100 years of combined AI experience including three AI veterans: Noel Sharkey, Yorick Wilks and Mike Rosner. Yorick has won some of the highest accolades including the Loebner Prize in AI, the BCS Lovelace Medal, the Zampolli Prize in NLP, the ACL Lifetime Achievement Award amongst others. Noel is a well known British AI personality and is heavily involved in the UN efforts regarding ethical AI and the non-weaponization of robotics (you may have seen him as the head judge of the popular UK TV series Robot Wars!). Mike was one of the first person setting up AI research labs in Switzerland and is a key figure in Computational Linguistics and was one of the first people who started teaching AI in Malta.
Q: What are Umnai’s biggest achievements in the last 12 months?
Umnai’s biggest achievements have been in the breakthroughs we’ve made in explainable AI and related areas, solving problems that have been long outstanding for over 30 years. At the moment we are carefully testing and verifying our technology and in the process of patenting it in various countries around the world to build the foundations for what could be one of the most significant disruptions in AI that will make it much more useful.
Q: You will be a speaker at Malta AI & Blockchain Summit. What will your speech be about?
I will be speaking about the future of AI and how it will affect society – how will AI be integrated with people, how will it affect our jobs, education, way of working, what are the benefits and pitfalls, and so on. Also I will be addressing a lot of common concerns that I get asked about frequently in different events around the world.
Q: Where do you see the biggest potential for combining AI and Blockchain technology in the coming years?
I think that blockchain can be a useful tool for AI when it comes to saving a verified audit log of its decisions and explanations, and also to a lesser extent to serve as a useful payment method for API calls, etc. The main use of blockchain as a distributed ledger (DLT) is the main short term potential for AI though – the speed of the blockchain technology needs to improve though in order to be useful at a massive scale.
Join Mr. Dalli at Malta AI & Blockchain Summit
Mr. Dalli will be one of the speakers at Malta AI & Blockchain Summit happening on May 22 – 25 in Malta.
Angelo Dalli’s Speech
“DEMYSTIFYING AI: THE TRANSITION IS CLOSER THAN YOU THINK”
May 24th at 9:30
The mission of AI Time Journal is to divulge information
and knowledge about Artificial Intelligence, the changes that
are coming and new opportunities to use AI technology to
By The Numbers: The Rate Bitcoin Must Climb To Reach $100K By July
Bitcoin is a numbers game through and through. There are only 21 million BTC. The code and its consensus algorithm are both made up of complex math. The total coins are slashed in half every four years, and so on and so fourth.
Most important of all, here’s the growth rate Bitcoin price must hit steadily to reach $100K per BTC by July 2021 according to one crypto capital manager – as well as the one thing that could get in the way.
Bitcoin Price Growth Rate Should Take Crypto Valuation To $100K By July
Bitcoin’s growth from virtually worthless to more than $60,000 per » Read more
” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin came to be reads as if it was ripped from a sci-fi film: Mysterious person takes a shot at all money, and takes no credit for the monumental effort.
” href=”https://www.newsbtc.com/dictionary/satoshi/” data-wpel-link=”internal”>Satoshi’s creation is now more than a decade old and has grown far beyond most people’s expectations. Over the last year alone, the leading cryptocurrency by market cap has grown at a daily average rate of 0.65% since April, resulting in a nearly a ten times climb in value.
At the current pace, according to crypto capital manager Timothy Peterson, Bitcoin price would reach $100K by June 30th.
At only a daily growth rate of 0.64% the top crypto should hit $100K by July | Source: BTCUSD on TradingView.com
The One Factor That Could Cause BTC To Fall Short Of Target
Bitcoin price must maintain comparable momentum over the last year to keep climbing at a similar rate and reach more than $100K per » Read more
” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin. The number is now closer to the current price action than $10K is, and thus potentially more achievable.
Price predictions for the next cycle top reach as much as $400K, with estimates more steeped in reality ranging from $125,000 to $325,000 per BTC.
The rally could really be over if the historically accurate signal is right again | Source: BTCUSD on TradingView.com
There’s a chance, however, the cycle top is in, according to the Pi Cycle Top Indicator. If the historically accurate tool is right yet again, the leading cryptocurrency’s daily growth rate will begin to decline from here on out until another bull market breaks out.
Bitcoin price wouldn’t make it to $100K by July, and a return to prices much lower would follow. If that’s the case, crypto investors would have to wait a while longer for the number one cryptocurrency by market cap to reach that ultimate target.
Featured image from Deposit Photos, Charts from TradingView.com
Bitcoin’s time has come: TIME magazine to hold BTC on balance sheet
Institutional fund manager Grayscale has partnered with acclaimed New York-based magazine TIME to produce an educational video series on the subject of crypto assets.
The partnership was announced on April by Grayscale’s CEO, Michael Sonnenshein, with Sonnenshein revealing that TIME and its president, Keith Grossman, will receive payment in Bitcoin.
Further, TIME does not intend to convert the Bitcoin it receives through the deal into fiat, and will hold the crypto asset on its balance sheet. No further details of the partnership have been revealed so far.
— Michael Sonnenshein (@Sonnenshein) April 12, 2021
TIME was first published on March 3, 1923, with the magazine and online publication having been active in the crypto space of late. In March, TIME cashed in on the NFT mania by dropping a set of tokenized magazine covers on NFT marketplace SuperRare, with the “TIME Space Exploration – January 19th, 1959” NFT fetching 135 ETH worth almost $250,000 on March 30.
“The media industry is undergoing a rapid evolution. TIME is seeking a Chief Financial Officer who can help guide its transformation,” the listing said.
According to Bitcointreasuries.com, TIME will become the 33rd publicly traded company to hold Bitcoin on its balance sheet. TIME joins the ranks of top U.S. companies Microstrategy — who have invested billions into BTC from August 2020, Square — who added 4,709 BTC to their treasury in October, and Tesla — which purchased $1.5 billion worth of BTC in January. Multinational investment corporation Blackrock also began dabbling in crypto during February, profiting more than $360,000 from a small long using Bitcoin futures.
This deal marks a significant partnership between giants of the mainstream and crypto worlds. Grayscale was founded in 2013 and has $46 billion worth of crypto assets under management, including roughly 3% of Bitcoin’s total circulating supply.
Moonstake integrates with Sylo to bring their staking protocol to the Sylo Smart Wallet
Moonstake, a staking pool protocol and service provider, has announced a new partnership with Sylo, a decentralized software development firm and the creators of the Sylo Network and Sylo Smart Wallet.
Through this collaboration, Moonstake will connect Sylo with their robust API/SDK solution, thereby enabling staking functionalities in the Sylo Smart Wallet and allowing Sylo users to earn passive income from their idle crypto assets.
Founded in 2010, Sylo is committed to decentralization and has created an ecosystem consisting of digital consumer wallet software, applications, infrastructure, and developer tools in order to usher in a decentralized future worth looking forward to.
A unique wallet app that combines digital asset management with decentralized communication, the Sylo Smart Wallet is a savvy decentralized e-wallet that enables users to purchase, store, track, send, and receive crypto assets, explore the world of Ethereum dApps by means of a Web3 Browser, pay with cryptocurrency in the real world, and provides secure communications by chat or audio/video call.
“We’re pleased to offer our community of global users yet another way to access the benefits of crypto. As always, our user flow has been designed with simplicity in mind, and staking via Moonstake in the Sylo Smart Wallet will make earning from digital assets simple enough for people everywhere.”
– Dorian Johannink, Co-Founder and Business Director of Sylo
Born over a year ago with the aim to create the largest staking network in Asia, since its inception Moonstake has developed highly user-friendly wallets for both Web and Mobile (iOS/Android) that are compatible with over 2000 cryptocurrencies.
After a full-scale operational launch in August 2020, Moonstake’s total staking assets have grown rapidly to reach USD 800 million in staked assets over just six months. Within a year of its founding, Moonstake became ranked in the top 10 of the world’s premier staking service providers and it continues to strongly expand its business.
“The Sylo Smart Wallet is an interesting e-wallet that combines the functionality of a flexible digital asset management tool and a secure instant messaging app. We are happy to help proper crypto projects like Sylo enable staking in their wallet so that users can have more ways to earn with crypto. With a wide selection of PoS coins and attractive yield rates from our high-quality staking pools, we are confident that users will be pleased with their staking experience on Sylo powered by Moonstake.”
– Mitsuru Tezuka, Founder of Moonstake