@Nold
The thing is Effect.AI is not developing artificial intelligence, that was never a plan. The first stage is Mechanical Turk, called Effect Force, which should be available in beta version end of June, and will allow people to develop and train their own AI algorithms. Then in next phases we will see Smart Market (AI services market for developers) and Effect Power (distributed computational power).
Yes, you are right. But I want to say that the team has very little experience. Therefore, complete work on the project will take a long time. And I'm not sure that they can make their project a leader in this field.