AI x Crypto: A World-Changing Partnership
Artificial intelligence (AI) and blockchain/cryptocurrency are two technological revolutions that have been making tidal waves in recent years. While they might seem unrelated at first sight, these two cutting-edge technologies have the potential to work together in ways that could significantly alter the global landscape.
The basics of artificial intelligence (AI)
Artificial intelligence (AI) refers to the demonstration of intelligence by a machine rather than an actual human being. Such intelligence can be learning, reasoning, problem-solving, understanding natural language, and recognizing patterns. From the Ghosts in Pac-Man to our beloved Clippy, from spam email detection to large language models like ChatGPT, AI has already been with us for several decades.
Most of the AIs we see today are powered by machine learning (ML) and/or neural networks. The former is the process of discovering patterns from training data and solving real-world problems with these patterns, often with little human intervention or supervision. Neural networks are technically under the umbrella of machine learning but are capable of building sophisticated models and delivering astonishing results under human supervision.
We’re still just getting started in the field of artificial intelligence and lightyears away from a general AI with human-level intelligence, capable to understand, learn, and apply knowledge across a wide range of tasks. Researchers and capitals have been flocking into this area, and there is certainly much to look for in the future.
How AI and crypto could change the world together
Though still in their adolescence, blockchain and cryptocurrency have already garnered worldwide attention and disrupted numerous sectors including finance, supply chain management, online governance, etc. The list will only keep growing, and the prospect of blockchain-powered artificial intelligence is among the most prominent ones.
Criticisms of AI’s lack of transparency and accountability have been an ongoing concern in this rising industry, and blockchain technology offers just the right solution. A transparent, immutable, and trustless network will help everyone better understand and oversee the entire process. This will help build a more trustworthy AI and vastly improve its integrity.
There’s also never such a thing as sufficient computing power for AI. Supercomputers and huge data centers are running day and night training the latest models, and that’s still not enough. With decentralized platforms such as blockchains, computing power and storage from billions of users around the world can be harnessed to power bigger, more complex AI models.
The benefit goes both ways. There is certainly no shortage of improvements AI can help blockchain make such as task automation, fraud/Sybil detection, trading strategy optimization, etc. In fact, Bitget has just launched our AI-powered Grid Trading Strategies. Joining our AI-powered Martingale Strategies, they aim to make trading more accessible and less taxing for novice and seasoned crypto traders alike.
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Famous crypto x AI projects
Several trailblazers have already started their adventures in bringing crypto and AI together across different sectors. Notable examples include:
SingularityNET (AGIX)
SingularityNET is a decentralized marketplace for AI services. It aims to create a global network of AI algorithms and datasets that can be accessed and monetized by anyone. The platform's native token, AGI, is used for transactions within the network and to incentivize AI developers to contribute their work.
iExec RLC (RLC)
iExec is a decentralized cloud computing network aiming to connect those in need of cloud computing resources with providers in a secure, private, and transparent manner. It is a marketplace where people with abundant computing resources meet with those in need.
Fetch.ai (FET)
Fetch.ai is a blockchain ecosystem that utilizes AI and automation to provide open-source software tools and a decentralized network for building modern, peer-to-peer applications, as well as tools for interacting with the chain directly. Its Multi-Agent system coordinates different agents and helps create a more cooperative and fair ecosystem that is especially befitting decentralization and may help everyone involved.
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Closing thoughts
Although crypto and AI offer infinite possibilities and enhancement to a multitude of industries, their vast potential still left much to be explored as we try to fit these transformative technologies into one consistent streamline. Our society is also wrestling with some of the legal and social challenges they pose. We are surely in for a long, eventful journey that will reshape the world as we know it.
Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.
