Genesis AI

Genesis AI was a startup that wanted to create a global marketplace for artificial intelligence. The company wanted to make advanced AI services available to businesses of all sizes. Genesis AI had a vision to challenge the control of large tech companies in the AI industry. They planned to offer a platform where AI services could be bought and sold. This platform was meant to help transactions between AI nodes, with Genesis AI earning a 30% fee from each transaction. The company also planned to offer a Software as a Service platform with special tools for managing the environment and natural resources. These tools included features for managing carbon, assessing wildfire risks, forestry, and urban management. The goal was to provide real-time updates and automate tasks like Community Wildfire Protection Plans. Despite raising over $5 million from many investors, Genesis AI did not keep its promises. The company''s platform was still being developed as of 2022 and had not made any money. Multiple deadlines for product launch and revenue targets were missed. The founder, Archil Cheishvili, did not have a formal background in AI or engineering and ran the company mostly alone. There was no significant technical team, and the company''s advisors were not well-known in the AI field. The company''s financial dealings also raised concerns, including large payments to the founder and questionable transactions with his previous startup. Investors started to question the lack of product and updates, leading to poor communication and attempts to silence concerns. As of January 2025, Genesis AI has officially stopped all product development, and there is no clear plan for recovery.