The Intersection of AI and Crypto: Exploring the Possibilities
The intersection of AI and crypto has everyone riled up, but there is little agreement on what is its best iteration. At the recent EthCC conference in Paris, the mood was elated as attendees speculated whether the worst of the bear market is in the past. The rise of artificial intelligence was a hot topic at the event, with discussions on how AI can be integrated into the crypto space. Here are some key points:
AI in Web 3 Finance:
- AI can increase productivity in crypto financial markets, boosting the dollar value of funds managed by crypto firms.
- Upshot uses AI to price non-fungible tokens (NFTs), which could bring trillions of dollars of assets into Web 3.
Cryptography for Better AI:
- Zero-knowledge proofs (ZK) could be applied to machine learning to create a decentralized trust system for AI.
- Blockchain can track the data used in training AI systems and monitor algorithm behavior.
- Challenges include computing power, performance, and usability of ZK proofs.
While the possibilities are exciting, it remains to be seen what specific use cases will emerge from the intersection of AI and crypto. Stay tuned!
Hot Take:
The integration of AI and crypto has the potential to revolutionize the financial industry and pave the way for new opportunities in Web 3. By leveraging AI in finance and using cryptography to enhance AI capabilities, we can unlock greater efficiencies and transparency. However, challenges such as computing power and usability must be addressed for widespread adoption. The future is promising, and it will be fascinating to see how these technologies evolve and shape the crypto landscape.
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