The Cybernetic Economic Intelligence Foundation (CEIF) and its subsidiary, Moneetize, are collaborating to establish an eCommerce ecosystem that utilizes AI-powered self-operating businesses. Their aim is to empower individuals from low and middle income brackets and address the widening wealth gap.
Despite significant technological and economic advancements, real wages in the US have remained stagnant for the past 50 years. The introduction of artificial intelligence has further accelerated progress, but it has negatively impacted the income and wealth of low- and mid-skilled workers. Conversely, wages for knowledge-based workers have continued to rise due to increased investments in technology and highly-skilled sectors. This has resulted in the widening of three gaps: the competence or skill gap, the income gap, and the wealth gap.
To combat these challenges, the CEIF and Moneetize are developing innovative technologies to empower low- to mid-skilled workers and small businesses in the digital economy. Through collaborations with industry experts and organizational partners, they leverage data technology to create pathways for economic opportunities in the digital age.
Nathan Essue, founder and Chairman of the CEIF and CEO of Moneetize, emphasizes the need to address the negative socio-economic effects emerging from the digital economy, exacerbated by advancements in AI and automation technologies. With estimates suggesting that automation may eliminate 73 million jobs in the US by 2030, there are critical concerns about the future of work.
Essue identifies these challenges as consequences of an increasingly complex and centralized digital economy that favors knowledge-based work and automation. Data from a leading eCommerce software platform reveals that the failure rate for small eCommerce businesses is between 90% and 95% within the first 120 days, with only 2% becoming profitable, predominantly highly-capitalized individuals and organizations. To counter this trend, the CEIF is developing a program in collaboration with Community Development Financial Institutions and other non-profit organizations in the US. This program will utilize the Foundation's decentralized cybernetic marketplace to facilitate greater access to working capital through autonomous loan executions for low and moderate-income individuals.
Essue envisions the marketplace as a means to harness the advancements in automation and address the widening socio-economic gaps. It combines Web 3, advanced data technologies, and cybernetic principles to enable autonomous data-driven commerce within a peer-to-peer digital ecosystem.
The ecosystem, known as the Cybernetic Economic Intelligence System (CEIS), leverages robo-advisory services in the field of eCommerce. CEIS, an emergent economic intelligence, employs AI, machine learning, deep learning, and data analysis to acquire, maintain, and exchange real-time market intelligence with relevant agents in Moneetize's network.
Similar to the impact of robo-advisors in the investment industry, Essue anticipates a similar influence on eCommerce. The CEIF and Moneetize aim to facilitate the creation of self-operating businesses, referred to as "Smart eBusinesses," managed by "eCommerce advisors” which act as personal digital business advisors for the owners. eCommerce advisors utilize online shopping data to make real-time profitable business decisions, generating eBusiness income for the owners.
These eCommerce advisors monetize their owner's data to fund and grow their business while managing their portfolio of digital assets, derived from consumer products. They perform crucial business functions such as identifying product demand, sourcing products, establishing contracts, managing logistics fulfillment, and processing payments on the peer-to-peer marketplace. By analyzing user shopping behavior, the eCommerce advisor determines which items to invest in to meet marketplace demand and generate more revenue. Business owners can choose to withdraw profits from sales or reinvest automatically in more products to further grow their eBusiness.
Essue highlights that eCommerce advisors represent a breakthrough in modern commerce, leveling the playing field for individuals with limited business expertise. They enable navigation of eCommerce complexities, revenue stream management, and data-driven commercial trades with exceptional convenience, efficiency, and profitability. Although fully autonomous, the owner retains the ability to intervene and make decisions as desired, while also training and enhancing the advisor's capabilities. Ultimately, the CEIF and Moneetize aspire to transform the eCommerce failure rate from 95% to a success rate of 95%.
Media contact:
Name: Nathan Essue
Email: [email protected]
