Our Living Thesis
August 2024
In the early 2000s, Hollywood was flooded with movies depicting the future where robots and computers gave people advice, planned their calendars, and knew more about humans and their needs than their own friends. Today, a large part of the world is experiencing that future vision. Siri and Alexa can answer everyday questions and keep us accountable to our schedules. ChatGPT helps us write and learn about the world. This is just the beginning. As a global society, we’re on the precipice of the biggest change to how we learn, earn and interact with one another since the dot com bubble. What technologists are unlocking with the AI revolution, through Machine Learning and Deep Learning, has the opportunity to democratize knowledge, technology, healthcare and more.
At Everi, we’re excited about this upcoming change. We believe that AI can be an “equalizer.” With AI, more people around the world can access technology, knowledge and insights. With AI, more people can succeed and tackle their dreams through access to skills augmentation.
In order for AI to effectively impact and resonate with a global market, we must fuel it with data that understands global context. If we want AI to work at scale - AI that can interpret language intonation, AI that can diagnose skin diseases, and AI that can detect deepfakes from anywhere in the world - we need to solve the problem of fueling AI systems with the right data. The right data is about quality, quantity and quid pro quo. Today, AI is fueled by noisy, biased data scraped from the web and introducing new problems around copyright, consent, fairness, and quality. At Everi, we’re committed to unlocking unparalleled AI innovation by redefining the social contract of the internet and transforming how we collect and curate high quality data to train AI models.
The Future of The Internet
Free Use of The Internet to Fair Use of The Internet
From the inception of the internet, there has been an unspoken social contract for its use. Tim Berners Lee, the creator of the World Wide Web is famously quoted saying “the dream behind the Web is of a common information space in which we communicate by sharing information. Its universality is essential: the fact that a hypertext link can point to anything, be it personal, local or global, be it draft or highly polished.” Essentially, the web was created to connect the world through communication and information sharing. These principles were established on top of a social contract where sharing information and communicating with the world was free as long as you had an internet connection.
“The Free Use of The Internet” social contract allowed any consumer to search, share and find information from anywhere about anything. It also enabled individuals to monetize their skills and expertise and reach a larger, global market. The use of social platforms, the ability to post on Wikipedia, the ability to comment on a Reddit thread, and the ability to search Firefox or Google, all of these behaviors have been free and based on this contract.
However, Big Tech’s monetization of data through advertising, personalization, and now AI model development has caused a shift in what it means to use the internet. The use of the internet is not, in fact, free. Consumers have been productized through Big Data. There exists a new economy of data where consumers, publishers and content creators are creating and owning new, valuable data but have been cut out of the monetization of that data. In an ever-changing economy, these content owners are demanding security for their owned content and inclusion in the monetization of data and development of AI. Now, more than ever, we require a new social contract for how we use the internet, share data, and engage in the internet economy.
We predict a new social contract of the internet, one defined by consent, transparency, and compensation. Rather than free use of the internet, we will transition to “Fair Use of The Internet.”
Through Fair Use of the Internet, consumers are also recognized as data owners, in which they manage and monetize their own content, data and digital assets across the internet. As with the emergence of Zillow and Redfin in the proptech revolution, we believe that this new social contract will empower content, data, and expertise ownership and IP while creating new streams of income will help those owners sustain the transition of how we work, learn, and earn in the age of AI.
Everi is on a mission to revolutionize the use of the internet and to power personalized AI systems. We are building the platform by which enterprises and consumers exchange data to fuel a new AI digital economy.
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