TOKEN2049: The Convergence of AI and Web3

Coinlive is reporting at TOKEN2049 held at Marina Bay Sands in Singapore! The panel consisting of Richard Muirhead, Managing Partner of Fabric Ventures who is moderating; Jake Brukham, Founder of CoinFund; Jamie Burke, Founder and CEO of Outlier Ventures; and Illia Polosukhin, Co-founder NEAR Protocol; and Alex Blania, Co-founder and CEO of Tools for Humanity/Worldcoin, dives into the topic “The Convergence of AI and Web3”. Web3, the next iteration of the internet, is characterised by blockchain technology, decentralised applications (dApps), and smart contracts. AI, on the other hand, encompasses machine learning, natural language processing, and computer vision, among other technologies. The synergy between these two transformative forces holds immense potential. AI can enhance the functionality of Web3 platforms by providing intelligent automation, predictive analytics, and personalised user experiences. Smart contracts can benefit from AI-driven oracles to make dynamic, data-driven decisions. Moreover, AI algorithms can help identify fraudulent activities and enhance security within decentralised networks. Conversely, Web3 can empower AI by providing secure, decentralised data sources and incentivising data sharing through tokenomics. This can help overcome the limitations of centralised data silos and privacy concerns. Together, AI and Web3 have the potential to reshape industries such as finance, healthcare, and entertainment, making them more accessible, efficient, and transparent. However, challenges like data privacy, interoperability, and ethical AI usage must be addressed as these technologies converge.