Introduction
Today, the digital landscape is still evolving at lightning speed and AI and Web3 are revolutionising how we think about decentralisation, security, and personalization.
2023 was the year that Artificial Intelligence (AI) projects started dominating the Web3 space, taking the attention away from previous hyped-up technologies in the last crypto cycle.
The fusion of AI and Web3 has the potential to unlock new levels of innovation, amplifying the strengths of both. In this article, we'll dive into how these two forces complement each other, shaping the future of technology.
How can AI be utilised in Web3?
AI and Web3 complement each other perfectly. AI enhances the user experience in dApps and Web3 applications by analysing vast blockchain data and behavior to offer personalized interactions. It also improves predictions, automates processes, and boosts security, creating a more dynamic and secure Web3 environment.
AI can also improve security in Web3 by detecting fraud, identifying vulnerabilities, and strengthening encryption. With AI-powered predictive analytics, users can spot trends, risks, and optimise resource allocation within Web3 ecosystems.
AI x Web3: A Powerful Partnership
As AI systems evolve, decentralising their development and applications becomes crucial. Trustless, permissionless AI can drive innovation across industries, preventing any single entity from imposing its incentives, constraints, or goals. Here are the key benefits of integrating Web3 and AI:
- Decentralisation: Secure data ownership, transparency, democratized compute power and AI resources
- Cost Reduction: Decentralised computational resources lower AI operational costs
- Scalability: Additional computational power to address scalability issues
- Verifiability: Blockchain’s transparency ensures the reliability and origin of AI-generated content
Increasing Adoption to the Masses
The integration of AI into Web3 platforms is not just a technical enhancement; it's a paradigm shift toward making blockchain accessible to a wider audience. By simplifying the user experience and reducing the barrier to entry, AI has the potential to catalyse the mass adoption of cryptocurrencies.
However, integrating AI with Web3 also comes with challenges such as scalability, data privacy, and the need for standardised AI frameworks for blockchain applications. When these hurdles are eventually addressed, the future of a user-friendly, AI-enhanced Web3 looks increasingly promising.
Companies That Are Combining AI and Web3
Bittensor
Bittensor is a decentralised network that connects machine learning models to create a global AI ecosystem. It utilises a blockchain architecture built on the Substrate framework, employing a Proof of Stake consensus mechanism. The network’s native cryptocurrency, TAO, serves multiple functions including incentivizing miners, enabling staking, facilitating governance, and paying for transactions and AI services.
Bittensor's subnets are decentralised networks focused on specific tasks. Miners are rewarded for providing quality responses to prompts from subnet validators, driving AI model improvement. Similar to neural networks, validators act as input nodes, while miners serve as hidden layers, ensuring efficient processing. This system helps Bittensor decentralise AI and make machine learning more accessible and scalable.
Discover more about our integration with Bittensor. Or read about our partnership with TaoStats who are a key contributor to the BitTensor ecosystem and have been our customer for over a year now.
Fetch.ai
Fetch.ai is a decentralised AI platform that utilises blockchain and machine learning to enable autonomous agents to perform tasks and interact within an economical internet.
With features like autonomous agents, an economical internet, and machine learning integration, Fetch.ai offers a scalable and secure platform for efficient data exchange and value creation.
We’ve been supporting developers building on fetch.ai since 2022! Find out more here.
Final Words
The synergy between AI and Web3 is paving the way for a new era, reshaping industries by revolutionising user engagement and operational efficiency. By bridging their unique strengths, these technologies are laying the foundation for a future built on enhanced trust, greater accessibility, and a shift in business practices.
As global tech continues to evolve, the transformative power of AI and Web3 will be key drivers of growth and innovation.
About SubQuery
SubQuery Network is innovating web3 infrastructure with tools that empower builders to decentralise the future - without compromise. Our flexible DePIN infrastructure network powers the fastest data indexers, the most scalable RPCs, innovative Data Nodes, and leading open source AI models. We are the roots of the web3 landscape, helping blockchain developers and their cutting-edge applications to flourish. We’re not just a company - we’re a movement driving an inclusive and decentralised web3 era. Let’s shape the future of web3, together.
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