Emerging Technologies: Blockchain and Artificial Intelligence
The Intersection of Blockchain and AI
Industry thought leaders gathered at the London Blockchain Conference to discuss the intersection of blockchain and artificial intelligence. During the event, Somi Arian, CEO of InPeak, a community of over 3,500 startups, discussed the dynamics and integration of the two transformative technologies in an interview with CoinGeek Backstage.
About Somi Arian
Somi Arian is not only the founder and CEO of InPeak but also a multi-award-winning filmmaker and author. She delivered a keynote address at the London Blockchain Conference on Web3 and AI. Her research on AI predates ChatGPT, and she is optimistic about the potential of AI to supercharge Web3 adoption.
“Without AI, blockchain is too rigid. On the other side, blockchain without AI is quite dangerous because it’s a black box controlled by centralized authorities, big corporations and governments,” she stated.
The Current State of Blockchain and AI
Blockchain has traditionally been the focus of attention, but over the past three years, AI has grabbed the spotlight. In 2023, generative AI alone attracted $25 billion in investments, while Web3 startups only drew $7 billion. According to Arian, this shift is due to the sector’s obsession with speculation and short-term gains. On the other hand, AI doesn’t face this problem, which is working in its favor.
The Potential Impact of Combining Blockchain and AI
Arian believes that when combined, blockchain and AI can change the world. While most attention focuses on major applications like finance, automation, the military, and content creation, she sees tremendous opportunities in daily life. AI can learn personal preferences, beliefs, and goals, helping make day-to-day decisions, such as analyzing terms and conditions to ensure alignment with individual goals. Blockchain integration would ensure transparency and security in these decisions.
Smart contracts are an area ripe for disruption through AI. While they were an innovation, they have limitations – they are rigid and can only be triggered by a specific condition with no room for amendments. “If we bring in machine learning into smart contracts, that’s potentially where we could get something really interesting,” Arian commented.
To work effectively within the law and navigate growing challenges, AI needs to integrate with an enterprise blockchain system that ensures data input quality and ownership. This would guarantee data safety and the immutability of data. For a comprehensive understanding of this emerging technology, see CoinGeek’s coverage on Enterprise Blockchain and AI.
New to blockchain? Check out CoinGeek’s Blockchain for Beginners section, the ultimate resource guide to learn more about blockchain technology.
Conclusion
The intersection of blockchain and artificial intelligence has the potential to revolutionize various industries. As Somi Arian has highlighted, the combination of these two emerging technologies can bring transparency, security, and acceptability to blockchain. While AI has traditionally been the focus of attention, blockchain will play a crucial role in ensuring data safety and immutability. As technology continues to evolve, it is essential to ensure that AI is integrated with blockchain, allowing for a secure and transparent interaction.
FAQs
Q: What is the current trend in blockchain and AI investments?
A: The trend is shifting towards AI, with investment figures for generative AI reaching $25 billion in 2023, while Web3 startups only attracted $7 billion.
Q: Can AI work effectively without an enterprise blockchain system?
A: No, for AI to work effectively within the law and navigate growing challenges, it needs to integrate with an enterprise blockchain system that ensures data input quality and ownership, guaranteeing data safety and immutability.
Q: What are the limitations of smart contracts without AI?
A: Smart contracts have limitations – they are rigid and can only be triggered by a specific condition with no room for amendments.
Q: What is the potential impact of AI on blockchain?
A: AI has the potential to supercharge Web3 adoption, making it more transparent, secure, and accepted.
Q: What is the role of Somi Arian in the blockchain industry?
A: Somi Arian is a multi-award-winning filmmaker and author and the founder and CEO of InPeak, a community of over 3,500 startups.
Q: What is the significance of integration between blockchain and AI?
A: Integrating blockchain and AI will ensure the data safety and immutability of data and is crucial for AI to work effectively and within the law.
