The use of artificial intelligence (AI) in cryptography, while still in its infancy, has shown prospects for growth. According to statistics, the blockchain AI market is expected to grow from $220.5 million in 2020 to $973.6 million in 2027 at a CAGR of 23.6% over the period 2020-2027. Countless projects are trying to put AI at the forefront of their use cases.
Although Tesla CEO Elon Musk and other prominent tech moguls have written an open letter urging governments to temporarily suspend large-scale AI development, the crypto industry is ripe for AI projects. Here are some examples of crypto AI projects that have recently emerged in the community:
Blocktrace is a service provider specializing in blockchain forensics and analytics powered by the use of AI technology. Its AI chatbot is designed to simplify the process of tracking blockchain transactions. Austin-based startup Blocktrace aims to use artificial intelligence to speed up the blockchain analysis process and make it easier to identify trends and anomalies.
The company developed an AI chatbot called Robby the Robot, named after the iconic character from the sci-fi film Forbidden Planet, to interact with data on the Bitcoin blockchain.
SingularityNET is a decentralized AI marketplace that leverages blockchain technology to provide a platform for AI developers to share and monetize their algorithms. It enables the creation of AI-powered decentralized applications (dApps) that can be used in various industries, including finance, healthcare, and transportation.
Launched via Initial Exchange Offering (IEO) on Binance, Fetch.ai is a decentralized platform that uses AI and machine learning algorithms to create Autonomous Economic Agents (AEAs). By using Fetch.ai tokens, users can create and deploy their own digital twins on the network.
Developers can access machine learning-based utilities by paying with tokens to train autonomous digital twins and deploy collective intelligence on the network. It helps users to perform various tasks such as: B. Data Analysis, Predictive Markets and Supply Chain Management. It aims to create an efficient and autonomous digital economy.
Artificial liquid intelligence
Artificial Liquid Intelligence is a platform that operates decentralized and uses both AI and blockchain technology to build a data marketplace. It offers data owners the ability to monetize their data while maintaining sovereignty over its privacy and security. The AI protocol works with the help of the Artificial Liquid Intelligence (ALI) utility token.
iExec RLC is a decentralized cloud computing platform that leverages AI and blockchain technology to provide a secure platform for running dApps that require high computing power. It allows developers to monetize their computing resources and offers an alternative to traditional cloud computing services.
Related: Government Should Fear AI, Not Crypto: Galaxy Digital CEO
The projects mentioned feature a variety of crypto-based applications using AI parameters, although they are still in the early stages. These applications range from decentralized marketplaces and data exchanges to self-governing economic entities and cloud computing platforms.
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