Decentralized AI: Artificial Intelligence in Web3

Over the last few years, we’ve seen two incredible technologies come to life and immediately take over the world with endless possibilities – artificial intelligence and Web3. Both are forces to be reckoned with, possessing the ability to reshape industries and redefine human-machine interactions. As these two innovations collide and mix, what will the future of the Internet look like?

How is AI being used today?

Even though AI might seem like a recent invention, it has already managed to integrate itself into many sectors of our world, streamlining operations and enhancing user experiences in various industries. The possibilities are endless, from machine learning systems that recognize patterns and anomalies in medical data to trading algorithms that can predict stock price changes and execute trades at the most optimal times.

Many tools and applications we’re used to feature AI-powered features now. CapCut – TikTok’s official video and image editor – has recently added a range of AI tools that make content creation streamlined and accessible, allowing beginners to edit their footage like pros. Thanks to the many available CapCut templates, it’s now easier than ever to create trending content for your social media profiles and boost your online visibility.

What is Web3?

The Internet as we know it centralizes information, power, and wealth in the hands of a few giants – Web3 offers a decentralized alternative to this, where users have full control over their data, identities, and online transactions. Web 3 will operate without intermediaries, allowing peer-to-peer interactions and contracts, kind of like smart contracts on the Ethereum network. 

Combining AI and Web3 creates a potential for revolutionary applications that can fully redefine online spaces. In a decentralized setting, AI can perform without being controlled by a single entity that adjusts it for selfish monetary gain – instead, AI can become democratized, creating community-driven AI models and tools that anyone can use for their benefit.

The benefits of AI in a decentralized web

In Web3, users are supposed to retain control over their data. With user permission, AI models could access this data to provide personalized experiences without compromising privacy. For instance, a decentralized music app can recommend songs based on the user’s listening history without sending the data to central servers and selling it to data brokers. As it is now, we can make use of the personalization offered by AI, but in exchange, we often have to “sell” our private information to huge corporations.

AI-driven smart contracts can make unbiased decisions based on specific parameters that are defined before signing, reducing the possibility of human bias or a central authority interfering in the process. AI developers can also be directly rewarded for their contributions by the online community, promoting innovation and helping reimburse open-source software developers for their time and dedication.

Imagine an AI model that’s entirely in the hands of the online community – an open-source marvel that continues to learn and improve, with thousands of contributions from developers from all over the world. 

Artificial intelligence has become an incredibly useful technology, streamlining work in many fields. Many of these tools are available for free, as is the case for CapCut and its AI-driven editing tools like old photo restoration, AI portrait generation, image and video upscaling (up to 4K!), and more.

photo restoration

Potential downsides of AI in Web3

As with everything, there are also downsides to combining Web3 with artificial intelligence. Running AI models on decentralized networks – especially blockchain-based networks – can be very resource-heavy and costly, potentially requiring massive computational power that only the world’s best supercomputer would be able to handle. 

One of the main promises of Web3 is increased data security and privacy, which means decentralized AI apps will need to ensure the data remains safe during processing. Since AI systems process massive amounts of data every second, and they would only have access to data given with explicit permission, the datasets themselves might be too small for the AI to learn effectively. 

Both AI and Web3 are concepts that the world’s governments have not encountered before and are not prepared for legislatively. New regulations will have to be written, and old ones adapted to this new reality, leading to many legal challenges to come. The beginnings may be especially rocky as laws slowly change worldwide to account for both AI and Web3.

Decentralized future: can it happen?

The combination of Web 3 and AI would be a huge leap in the digital revolution. We stand at a crossroads – whether the opportunities can outweigh the challenges dictates if we see this explosive concoction implemented. Like any transformative tech, its success depends on adoption and adaptability, but it will also require forward-thinking regulations to control. Can decentralized AI become a reality, or will it remain in the sphere of ideas? We’ll just have to wait and see for ourselves.

Mark Peterson

Mark Peterson has been following the crypto market for the past seven years. As a crypto news journalist, he has recently joined our team. He regularly delivers the most recent happenings of the crypto space. He enjoys writing poems and exploring various crypto trading platforms in his spare time.

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