Combining blockchain (and the concept of smart contracts), AI, and natural user interface, VAIOT will introduce its Virtual AI Legal Assistant to the market, focusing on law firms, businesses and individual consumers.
As customers expect easier, quicker, and cheaper solutions as well as new digital channels for buying services and conducting instant transactions, VAIOT offers the Virtual AI Assistant to meet those expectations.
VAIOT will allow customers to buy a variety of services including, for example, car or travel insurance. Thanks to the AI Virtual Assistant, VAIOT will be able to support purchase decisions and sales processes, creating a brand new service distribution channel.
The Virtual AI Legal Assistant will be offered to end users in two different models – B2B and B2C. In the B2B model, the product will be offered to businesses that wish to benefit from technological support in their daily legal processes. Whether it’s a law firm trying to cut costs and save the time of its employees, or a medium-sized company with a small, overloaded legal department, VAIOT’s AI Legal Assistant will provide support in generating legal contracts based on its extensive database. In the B2C model, VAIOT will offer legal services to individual customers, allowing them to save money on lawyers and vastly simplifying the process of preparing contracts.
VAIOT’s proprietary distributed network concept, where Artificial Intelligence and blockchain are inseparably linked. AI algorithms, settled on-chain and taking part in the consensus algorithm, are necessary for the Intelligent Contract creation process. Blockchain confirms that every network participant is certain about the decisions made by AI and ensures that it cannot be manipulated or influenced from outside of the network. Both technologies have multiple dependencies within VAIBC.
The AI Virtual Assistant is a personal tool representing the ideal, natural user interface for the creation of Intelligent Contracts and acquisition of various products and services within the new digital service distribution channel. It ensures seamless experience, allowing the user to communicate with the VAIOT platform in a natural way and obtain goods and services more efficiently and affordably, with full data support and transparency. The assistant brings all the background processes together, as the Intelligent Contract is created in both human readable (printable, ready-to-sign) and coded form.
IBM Watson is one of the most recognized business solutions, utilizing the latest innovations in machine learning to support automation and optimization of complex processes. Its powerful tools, together with VAIOT proprietary algorithms, form most components of the platform, such as the AI Virtual Assistant or the VAIOT Code Generation Engine.
The Cosmos SDK is an open-source framework for building blockchains in an
application-specific manner, within which VAIOT leverages its own
Modular structure provides heavily tested and fully customizable components that firmly bootstrap VAIOT applications. Cosmos breaks the barriers between blockchains by allowing them to communicate with each other in a decentralized way. Its features include scalability, modularity (consensus, networking and application layers) and interoperability. Cosmos SDK utilizes the Tendermint consensus algorithm for securely and consistently replicating an application on machines, even if one third of all nodes are malicious.
AI combined with the VAIOT Code Generation Engine (VCGE) allows for the automatic conversion of an abstract description into an executable program, based on blockchain. A user-friendly application will allow consumers to input only the core elements of the contract. The AI will then identify the basic contract patterns and convert them into a clean and standardized Intelligent Contract. Certain aspects of the contract are coded and whenever set conditions are met, the contract is executed and an irreversible entry is made in the blockchain ledger. The usage of AI models guarantees the highest level of security of Intelligent Contracts and excellent code performance.
A group of researchers and technology enthusiasts comes together to work on the technology of Intelligent Contracts and the VAIOT product concept.
VAIOT is founded; technology development and the concept creation process accelerate. Development and business teams are formed.
The company is incorporated in Malta to become a part of the world’s first integrated framework for ICO regulation.
The first round of funding successfully launches, to accelerate further development of the VAIOT Project. The initial investment round brings 1,500,000 EUR.
Preparation of all the required documents for VAIOT to become one of the first companies to carry out an Initial Virtual Financial Assets Offering (IVFAO) falling under Maltese regulations.
VAIOT and IBM launch a development project to produce VAIOT’s MVP.
VFA status to be obtained and the private phase of the token sale to be completed.
Initial VFA Offering is launched once the Whitepaper is approved by MFSA.
The initial phase of the VAIOT-IBM cooperation to be completed.
Extending the list of agreements forming the database for the contract generation engine. Virtual AI Sales Assistant (VAIOT’s business line 1) prepared and ready for market launch.
Business Line 1: tailor-made mobile app for companies seeking new, digital sales channels utilizing the Intelligent Contracts component. Crucial for the development of the AI Legal Assistant (data needed to improve algorithms).
Business Line 2: a B2C mobile app allowing consumers to compare and buy insurance products from different insurers with the use of the voice interface and AI-based Intelligent Contracts developed by VAIOT. Crucial for the development of the AI Legal Assistant (data needed to improve algorithms).
VAI Token migration from ETH standard to the native VAIOT blockchain based on Cosmos SDK.
Business Line 3: a B2C/C2C mobile app enabling consumers (incl. private entrepreneurs and micro/mini enterprises) to create Intelligent Contracts utilizing natural user interface, with advanced AI serving as a personal legal assistant for creating contracts and negotiating them in real-time between the parties involved; to be used for drafting other legal documents (e.g., testaments).
The development of AI mechanisms allowing to use other blockchain networks for data exchange, transmission, processing, and storage.
VAIOT brings the concept of network interoperability to a single standardized format accessed via a natural user interface.
We use and plan to use IBM Watson further for: