This is an opinion post written for CryptoPotato by Ken Timsit, Head of Cronos Labs
The Year of AI
In 2023, it is the year of artificial intelligence. It’s an opportune time to explore the numerous types and applications of A.I., particularly for startups and projects that operate at the intersection of A.I. and blockchain. To carry this momentum into 2024, you should have a clear understanding of what to focus on when developing projects that involve blockchain and A.I.. The Cronos Accelerator Program assessed over 600 Web 3.0 startup applications, giving insight into the present state of the blockchain and A.I. landscape.
The app review identified that generative A.I. can expand the productivity of teams working on blockchain protocols. This is critical as protocols continue to contend with local regulations, compliance, and localization. It’s essential to boost team productivity across different departments, such as software development, marketing, risk management, product design, and customer service, by leveraging A.I. tools.
Blockchain protocols need to offer a smooth user experience with simple interfaces. A.I. can be used to guide users through product functions, interfaces, and notifications, making Web 3.0 user experience seamless. Corporations and startups like Crypto.com and Dune Analytics are already focusing on this dimension.
Provenance and Digital Identity
The rise of A.I. will create use cases for decentralized identity, such as ascertaining which users are human and tracking the provenance of training data used by A.I. models. Nonetheless, decentralized identity protocols face challenges related to user adoption and market readiness.
Powering the A.I. Economy
The A.I. economy has expanded, with blockchain-based products promising cheaper access to compute resources and improved access to A.I. models. This year will see an increase in startups focusing on A.I. agents transacting with each other, building the blockchain-based financial rails to power this economy.
In 2023, A.I. has made whole lot of strides, and 2024 will showcase how blockchain can take advantage of A.I. to accelerate its growth. As both emerging technologies, the interaction between A.I. and blockchain holds enormous probable for the future.
Ken Timsit is the Head of Cronos Labs, the 100 M$ Web 3.0 start-up accelerator and ecological system development arm of the Cronos blockchain. Prior to joining the Cronos project in 2021, Ken was chief revenue officer at ConsenSys, the Ethereum (ETH) technology company behind market-leading products MetaMask and Infura, where he spent 5 years. Ken started his career at The Boston Consulting Group (BCG) and has authored reports and publications on Web 3.0 and fintech. He was in the management committee member of the European Commission’s EU Blockchain Observatory and Forum between 2018 and 2020.
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