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In a world where the distinction between hype and innovation is becoming increasingly blurred, blockchain and artificial intelligence (AI) are emerging as the most significant technological advancements.
Clearly, these technologies leave a lot of room for disruption to existing systems, and the number of potential applications is growing every day.
Some believe that venture capitalists have moved from crypto to artificial intelligence, in search of the next big thing.
Meanwhile, the crypto industry has resorted to creating AI-powered blockchain solutions so venture capitalists (VCs) can have the best of both worlds.
The global blockchain market is estimated to be worth over $94 billion by 2027, growing at a CAGR (compound annual growth rate) of 66.2%.
Meanwhile, the blockchain AI market is expected to reach $980.7 million by 2030, growing at a CAGR of 24.1%.
As blockchain and AI continue to integrate, their impact on the global market is set to intensify.
While some fear we are on the cusp of a Frankenstein moment with two powerful technologies coming together to build a game-changing monster, companies around the world are already leveraging the combination of blockchain and AI for transformative solutions.
Autonomous Agents
AI-powered autonomous agents can be used to automate a variety of tasks such as planning, monitoring, forecasting, and optimization.
These agents can be programmed to identify patterns in data and make decisions without the need for human supervision.
Through the use of three disruptive technologies, AEAs (Autonomous Economic Agents) can research, negotiate, and execute transactions across many industries, including manufacturing, transportation, and even consumer goods such as self-driving cars and homes. smart.
In the world of crypto, there are ambitious projects that mix AI, blockchain and the Internet of Things (IoT).
Blockchain, with its data supply, provides an ideal environment for intelligent agents, due to the constant availability and logical connection of data, coupled with robustness and low transaction costs.
Blockchain technology enables the transfer of value and acts as a coordination mechanism for autonomous agents.
The blockchain is also used to record agreements between these agents, ensuring that transactions are immutable and transparent.
AI and finance
Financial modeling and investment strategies can be improved using AI and blockchain technologies.
A number of hedge funds are using AI to identify patterns in financial data to predict future market trends and make informed investment decisions, along with blockchain technology to ensure security and accuracy. data.
The use of these technologies has enabled some funds to achieve gains of 20% last year, according to reports.
There are also decentralized platforms that use AI and machine learning to analyze data to improve trading decisions. In real time, users can ask predictive questions and receive answers.
Also on this list are crypto projects that use blockchain data to train AI in asset management, improving farm yields, and lending.
Data sharing for AI training
Since AI algorithms need large data sets to learn, big tech companies like Google, Meta, and Amazon profit hugely from monetizing them.
The data is collected from unsuspecting users and then used to feed AI algorithms.
There are crypto projects that use blockchain for the development of artificial intelligence, creating a new economy where users are rewarded for their data.
The data is only accessible to authorized users and AI development requests using a zero-knowledge proof protocol, giving users full control over their data and allowing them to price it accordingly.
Similarly, there are decentralized data marketplaces that allow users to securely share their data for AI model training.
By monetizing their data while maintaining control over its use, users can address the data imbalance and privacy issues associated with the development of artificial intelligence.
As the potential of AI and blockchain is increasingly realized, we can expect to see more such projects in the coming year and beyond.
AI-powered blockchain development
AI can be used to secure data, detect and respond to threats, and automate tasks that would otherwise require manual effort.
Using AI, developers can detect bugs, vulnerabilities, and malicious behavior in networks and applications faster, allowing them to make fixes before they become a problem.
Additionally, AI can be used to optimize blockchain networks for speed and efficiency.
In general, AI-driven blockchain technology development can lead to greater transparency, efficiency, and security in the crypto space.
There are platforms that allow developers to build and deploy AI models on the blockchain.
They run on-chain machine learning models using GPU (graphics processing unit) instead of CPU (central processing unit) power and quantization and integer inference known as MRT.
So if you’re a coder and don’t want to be replaced by AI, it’s time to hone your coding skills because the AI takeover is just around the corner.
Conclusion
We can create a future in which AI and blockchain can co-exist, driving a game-changing shift in innovation through the use of these two disruptive technologies.
The combination of the two is like a rocket, with the power of blockchain providing the fuel and AI providing the precision guidance, expanding our reach beyond imagination.
Taras Dovgal is a serial entrepreneur with over 10 years of systems development experience. A crypto enthusiast since 2017, he co-founded several crypto-related companies and is currently developing a crypto-fiat platform. As a startup and web development enthusiast, Taras’ goal is to make crypto products accessible to mainstream consumers. not just technicians.
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Feature image: Shutterstock/Philipp Tur/Natalia Siiatovskaia