What new business model will Web3+AI face in the era of rapid growth of AI technology?

Artificial intelligence, which will gain widespread popularity in 2022, is the most exciting technological development to emerge since the birth of blockchain ten years ago. 

Now you can see a significant increase in interest in what comes next. Will it be augmented reality? Autonomous vehicles? Cryptocurrency boom? Each of these options is promising in its own way and has many application scenarios.

This article will discuss the recent fast expansion of AI, its interaction with Web3, and the business implications of this new partnership.

Explosion of AI technologies

According to OpenAI research, computing power has shown staggering growth over the past 10 years. Statistics tell us that power doubles every 3-4 months. This increase in computing power has allowed people to create AI networks, programs, and software that were previously thought impossible.

One of the simplest definitions of an “AI explosion” is a situation where artificial intelligence (AI) develops at a rate significantly faster than humans and eventually surpasses human intelligence. 

Intelligent machines can solve problems and create new technologies that we cannot even imagine. Therefore, an intellectual explosion can usher in a new era of prosperity and abundance. It could also lead to a deeper understanding of space and our place in it, as well as the development of innovative strategies for human-machine communication and collaboration.

The evolution of AI in recent times and the launch of programs like ChatGPT prove that the AI ​​explosion has indeed occurred and AI will only get better as technology advances.

What is the intersection of AI and Web3?

Intelligent Blockchains

The development of mission-critical distributed computing components that enable decentralized processing of financial transactions is a core focus of the blockchain platforms currently available. 

Consensus methods, mempool structures and oracles are some of the most important components of this system. Machine learning-based features will be included in the next generation of layer 1 and layer 2 (companion and core) blockchains as core components of existing software infrastructures, such as storage and networking, become increasingly intelligent. 

Intelligent decentralized applications (dApps)

Decentralized applications, known as dApps, are expected to be one of the most popular web solutions available on web3 for quickly adding machine learning-based features. This model is already visible in NFTs, and its prevalence will only grow over time. 

In the next generation of NFTs, static images will be replaced by artifacts that demonstrate intelligent behavior. These NFTs will be able to adjust their behavior depending on the emotional profile of the person they belong to.

Intelligent Protocols

The use of smart contracts and protocols is another way the Web3 stack can integrate machine learning capabilities. This model is most prominently represented in DeFi. 

We will soon see computerized market makers for DeFi (AMM) or lending protocols with smarter logic based on machine learning models. We can imagine a credit protocol that uses intelligent scoring to evenly distribute credits from different wallets.

NFT

Generative AI extends Web3's capabilities through the use of NFTs (such as branding and media with NFT art), blockchain gaming (asset creation, storytelling, story design, and avatar modeling), metaverse, and Web3 development services. 

Online search

The various generative AI technologies in Web3 are bringing new and valuable innovations to online search. For example, ChatGPT's latest integration with Microsoft Bing provides an improved and more seamless chat experience. 

In addition, thanks to the AI ​​cloud, generative AI can be integrated into the Web3 domain. When performing a query using a web search, it makes it easier to consume SEO content and helps users filter content found on the web. 

You can simplify and update dynamic game features such as dialogue and avatars using generative AI text tools. These tools can be included in your game.

What new business model will Web3 + AI face?

Art 

Users in niche markets are enthusiastic about digital art, and collectors are among the most active consumers of generative AI and Web3 technology. Artists create rare digital assets and design items in limited quantities, so their value can be quite high due to low supply.

The boom of artificial intelligence and Web3 has given artists the opportunity to create unique digital works of art that can be sold online. This is atypical because if you had told someone a few years ago, “I'm selling digital art in the form of NFTs,” they would have laughed at you.

Decentralized AI marketplaces

Imagine a world where AI models can buy, rent, or lease on the open market. 

These decentralized AI marketplaces allow everyone to contribute to the development of AI, freeing them from the constraints of centralized data management. Blockchain development  service provides transparency, security, and most importantly, a fair share of revenue for those who create AI models.

Decentralized data marketplaces

It is a decentralized network in which companies can participate to either sell or buy data. Marketplace activities governed by smart contracts ensure that the data provider can securely sell their data to buyers without compromising data privacy.

The identities of the buyer and seller are not disclosed to third parties without their consent. The name of the data seller is disclosed to the data buyer only if the seller gives its 100% permission. Even after the data has been sold, the seller's right to confidentiality of his data is preserved and protected.

The future of AI and Web3

Artificial intelligence is already revolutionizing the way we use the Internet, and this trend will only accelerate in the coming years. Web3 will be powered by AI and will be the next version of the Internet. This suggests that even greater feats of artificial intelligence await us in the future. 

Additionally, exciting technologies such as virtual and augmented reality may soon be combined with generative AI. In this situation, we can imagine a set of text instructions that, when followed, will create a realistic, interactive 3D simulation.

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