PIN AI Secures $10 Million Pre-Seed Funding And Joins a16z Crypto Startup Accelerator

According to Cointelegraph, PIN AI, an artificial intelligence infrastructure company, has raised $10 million in pre-seed funding and joined the Fall 2024 cohort of the a16z Crypto Startup Accelerator (a16z CSX). The startup is focused on developing the first open-source Personal Intelligence Network (PIN), emerging from research collaborations at Ethereum Core, Stanford, and MIT. This solution directly competes with Apple’s newly launched Apple Intelligence AI solution. In a written Q&A with Cointelegraph, Ben Wu, a co-founder of PIN AI, explained that the Sept. 9 announcement coincides with Apple’s same-day announcement to maximize the impact of the communication. PIN AI is a privacy-focused, open-source alternative to Apple Intelligence, designed to run on lower-spec smartphones and a wider range of devices, making it accessible to a broader audience. Wu highlighted that internet giants like Apple, Google, Facebook, and Amazon have built trillion-dollar empires based on user data, but users don’t own any of it. PIN AI’s AI x crypto solution allows users to earn token incentives based on the data they connect and the activities they perform, sharing ownership of the entire platform with the users. The PIN AI platform will enable developers to create AI agents that operate on users’ devices, utilizing user personal data in a decentralized and privacy-preserving manner. The platform will use blockchain technology and advanced AI models to allow users to manage their data securely across multiple applications. Davide Crapis, another co-founder of PIN AI, explained that the open-source PIN will protect user freedom from big internet giants and take back over $100 billion in profit from user data. The platform empowers users to monetize and control their own data, offering them the benefits that major tech giants like Apple previously dominated. On Sept. 5, the world moved closer to international unification of its goals and values regarding AI after a meeting of Council of Europe ministers of justice. The United States, the European Union, and the United Kingdom were set to sign the Framework Convention on AI, a treaty focused on human rights and democratic values. The treaty aims to regulate public and private-sector AI models and would be the world’s first international treaty on AI that is legally binding on its signatories.