With the explosion of AI technology, what new business models will Web3 + AI impact?
Artificial intelligence, which has achieved widespread popularity in 2022, is the most exciting technological development to emerge since the advent of blockchains a decade ago. We are already seeing excitement about the future. Is it increased realism? Self-driving car? Cryptocurrency boom? Everyone has their own expectations and there are many different applications. In this article, we'll talk about the explosion of AI in recent years, its relationship to Web3, and how businesses are affected
The explosion of AI technology
According to research from OpenAI, there has been a significant increase in computing power over the past 10 years. Statistics tell us that capacity doubles every 3.4 months. This increase in computing power has allowed humans to create AI networks, programs, and software that were previously thought impossible.
A simple definition of an AI Boom is one in which artificial intelligence (AI) advances at a much higher rate than humans do, eventually surpassing human intelligence.
Smart machines can solve challenges and build new technologies we cannot imagine. Therefore, an intelligence explosion could usher in a new era of prosperity and abundance. Additionally, it could lead to a deeper understanding of the universe and our place in it, and the development of innovative strategies for communication and cooperation between humans and machines.
The growth of AI in recent times and the release of programs like ChatGPT are proving that the AI boom is truly here and will only improve with the advancement of technology.
What is the intersection of AI and Web3?
Smart Blockchain
The development of key distributed computing components that enable decentralized processing of financial transactions is the main highlight of currently available blockchain platforms. Consensus methods, mempool and oracle structures are some of the essential building blocks of this system. ML-based features will be integrated into the next generation of layer 1 and layer 2 (companion and base) blockchains as essential components of existing software infrastructure such as storage and connectivity The network is becoming smarter
Smart DApps
It is predicted that decentralized applications, commonly known as dApps, will be one of the most popular web solutions available on web3 for the rapid addition of ML-based features. This model is already gaining traction in NFTs, and its popularity will only increase over time. In the next generation of NFTs, static images will be replaced by artifacts that exhibit intelligent behavior. These NFTs can adjust their behavior depending on the emotional profile of their owner.
Smart protocols
Using protocols and smart contracts is another way the Web3 stack can integrate ML capabilities. This model is most clearly illustrated by DeFi. It won't be long until we see computerized market makers for DeFi (AMMs) or lending protocols with smarter logic based on machine learning models. We can envision a lending protocol that uses smart scores to evenly distribute loans from different wallets.
NFTs
Creative AI is empowering Web3 through the use of NFTs (such as branding and media with NFT art), blockchain gaming (such as content creation, narratives, sentence design stories and avatar modeling), metaverse and Web3 development
Search Online
The various general AI technologies in Web3 introduce new and valuable innovations to online search. For example, ChatGPT's most recent integration with Microsoft's Bing provides an improved and more user-friendly chat experience. Additionally, with its AI cloud, Generative AI can integrate itself into the Web3 domain. When conducting queries using web search, it simplifies the use of SEO content and assists users in filtering documents found on the internet. You can streamline and innovate game dynamics like dialogue and avatars using Creative AI text tools. These tools can be included in your game.
What new business models will Web3 + AI impact?
Users in niche markets excited about digital art and collectibles are some of the most active consumers of artificial general intelligence and Web3 technology. Artists are creating rare digital assets and designing items in limited quantities, so their value can be high due to low supply. The explosion of AI and Web3 has created opportunities for artists to create unique digital art that can be sold online. This is not typical because if you told someone, “I sell digital art as NFTs,” a few years ago, you would have been laughed at.
Decentralized AI market
Imagine a world where artificial intelligence models can be bought, rented, or leased on an open market. These decentralized AI marketplaces allow everyone to contribute to the development of AI, freeing them from the limitations of centralized data control. Blockchain technology ensures transparency, security, and most importantly, a fair share of revenue for the creators of AI models.
Decentralized data market
It is a decentralized network in which businesses can participate to sell or buy data. Market operations driven by smart contracts ensure that data providers can securely sell their data to buyers without jeopardizing data privacy. The identities of buyers and sellers are not disclosed to third parties without consent. The name of the data seller is only shown to the data buyer if the seller gives 100% permission to do so. Even after data has been transacted, the seller's right to privacy of their data is still protected and preserved.
