Originally published on: November 15, 2024
Artificial intelligence and crypto are the dynamic duo that tech enthusiasts are buzzing about as the next big thing. AI crypto projects have soared to market caps exceeding $1 billion in recent years, attracting massive investor interest. However, user demand has not caught up with the hype.
When you ask the average AI user about their go-to programs, names like ChatGPT, Brave’s Leo search app, or Microsoft’s Copilot are likely to come up. Rarely do users mention blockchain or crypto protocols. But is this trend about to change? Will blockchain AI truly transform the world, or is it just another fundraising fad?
Cointelegraph recently sat down with top executives from leading blockchain AI protocols to get some answers.
Gaurav Sharma, the CTO of AI project IO, highlighted the inefficiencies of centralized cloud computing systems in meeting the skyrocketing demand for GPUs crucial for AI development. This creates an opening for decentralized blockchain projects to thrive.
Sharma’s firsthand experience in the hotel industry revealed the challenges of sourcing GPUs from centralized providers like Amazon. With IO’s decentralized protocol, a marketplace for GPU power is created, enabling seamless matching of buyers with sellers amid the increasing demand for GPUs in AI applications.
Key to Sharma’s advice for investors is to closely evaluate the team behind each project. An experienced team with a proven track record is more likely to deliver quality work. He also emphasized the importance of open-sourcing code and conducting regular audits to ensure transparency and minimize human intervention in AI projects.
Kartin Wong, co-founder of ORA, highlighted the future integration of blockchain prediction markets with AI as inevitable. Tokenization can streamline fundraising for AI models through innovations like the “initial model offering,” where untrained AI models launch tokens to finance their training, which involves extensive GPU usage.
Wong stressed the importance of distinguishing between real and fake blockchain AI projects and how using the product firsthand provides the best insight into its AI capabilities. He showcased ORA’s ChatOLM chatbot as a tangible example of AI in action.
Ron Chan, co-founder of Inference Labs, emphasized how blockchain enables “truly autonomous AI” that addresses human-centric challenges through decentralized development driven by market demand. He discussed the need for provable AI inference on decentralized platforms to eliminate human intervention and ensure AI independence.
In conclusion, these emerging blockchain AI projects are poised to disrupt industries and revolutionize user experiences. While adoption may take time, the potential impact on the future is promising. Stay tuned for consumer-facing blockchain AI apps like OLMChat and innovative projects by Inference Labs that showcase the power of AI in real-time.
