6 Blockchain Powered AI Startups to Watch in 2023


6 Blockchain-Powered AI Startups to Watch Closely in 2023

Artificial intelligence (AI) and blockchain technology are two transformative forces reshaping industries across the globe. As the AI revolution gains momentum, startups are harnessing this technology to disrupt and revolutionize various sectors. However, not all AI-meets-blockchain startups are genuine innovators; some are simply caught up in the hype cycle. Amidst all the noise, there are several startups merging blockchain and AI to create groundbreaking solutions that have the potential to transform industries and yield substantial returns for early investors. Here are six AI-powered startups to watch closely in 2023.

1. Space and Time (SxT):
Backed by Microsoft and a team of talented individuals, SxT is a decentralized data warehouse that offers real-time, indexed blockchain data. It provides developers with decentralized data on demand, supporting any blockchain ecosystem they prefer. SxT is utilizing AI to enable natural language queries for SQL prompts. With the release of their GPT-4-powered chatbot named Houston, developers can now simplify data querying, set up pipelines and dashboards quickly, and create decentralized applications without writing a single line of code.

2. SYS Labs:
SYS Labs, known for its involvement in emerging technologies, recently acquired the crypto project FortKnoxster and is now working on an AI-powered consumer app called SuperDapp. This upcoming application aims to make web3 more accessible to everyone. By leveraging conversational AI, SuperDapp enables users to perform smart tasks such as sending and receiving crypto, booking travel, and interacting with DeFi through a text-based AI assistant. Its user-friendly interface and integration with web3 APIs position SuperDapp as one of the most promising startups in this space.

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3. HyperCycle:
In the era of poly-AI, where numerous AI systems vie for supremacy, HyperCycle is building a scalable computing solution that allows AIs to operate autonomously and communicate with each other. They have created decentralized neurodes, which are software components that offer on-demand powerful computation. HyperCycle’s architecture utilizes a combination of virtual machines (VMs), AI algorithms, and decentralization to enable computers to subcontract one another, resulting in fast and cost-effective compute power. Recently, HyperCycle partnered with the Paraguay government to utilize hydropower for AI computation.

4. HUMAN Protocol:
To enhance AI and machine learning tools, HUMAN Protocol leverages its network of contributors to power various data-labeling APIs. An AI’s intelligence is only as good as the data set it is trained on, and HUMAN Protocol solves this issue by tapping into a vast network of data labelers from hCaptcha. It democratizes access to data-labeling services by offering a price-quality guarantee and allowing participants with modest budgets to contribute in creating AI products.

5. Render Network:
Rendering at scale can be a costly process due to the need for powerful GPUs. However, Render Network offers digital creators access to high-powered GPUs on-demand by provisioning idle compute from other web users. It also provides a platform for artists and developers to create services that support the digital economy, focusing particularly on AI. By leveraging their network of node operators, Render Network offers an efficient and scalable solution for AI-generated film, animation, and photography rendering. This breakthrough allows creators to bring their ideas to life without budgetary or hardware constraints.

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6. Libertify:
Cryptocurrency trading can be volatile, and inexperienced traders are often vulnerable to emotional decision-making that can lead to substantial losses. Libertify aims to address this by utilizing AI to make more rational and smarter trading decisions. Their crypto seatbelt protects investors from market volatility, allowing them to lock in profits and minimize losses on red days. By implementing trading strategies that align with users’ risk profiles, Libertify aims to increase gains and reduce pain in the crypto market.

In conclusion, AI and blockchain are converging to create innovative solutions with the potential to reshape industries. The startups mentioned above exemplify the successful marriage of AI and blockchain, harnessing the benefits of decentralization, machine learning, and vast data sets. These companies are at the forefront of a new wave of innovation that is poised to impact every industry. As we move into 2023, keep a close eye on these AI-powered startups and the transformation they bring.

Frequently Asked Questions (FAQs) Related to the Above News

What is the significance of combining AI and blockchain technology?

Combining AI and blockchain technology allows for the development of innovative solutions that leverage the benefits of decentralization, machine learning, and vast data sets. This convergence has the potential to reshape industries and create groundbreaking advancements.

How are these startups using AI and blockchain technology?

These startups are utilizing AI and blockchain technology in various ways. For example, they are using AI to enable natural language queries, create conversational AI assistants, facilitate scalable computing solutions, improve data labeling for AI training, provide on-demand access to high-powered GPUs, and make smarter trading decisions in cryptocurrency markets.

How are these startups disrupting industries?

These startups are disrupting industries by offering novel solutions that address pain points and introduce efficiencies. They are simplifying data querying and application development, making web3 more accessible to users, enabling autonomous communication among AI systems, democratizing data-labeling services, providing on-demand rendering services, and enhancing cryptocurrency trading strategies.

Are these startups backed by notable partners or investors?

Yes, several of these startups are backed by well-known partners or investors. For example, Space and Time is backed by Microsoft, SYS Labs recently acquired the crypto project FortKnoxster, HyperCycle partnered with the Paraguay government, and Render Network has a network of node operators.

What potential do these startups have for early investors?

These startups have the potential to yield substantial returns for early investors. By combining AI and blockchain technology to create innovative solutions, they are well-positioned to disrupt industries and capitalize on emerging trends. However, it is important to conduct thorough research and consider the inherent risks associated with investing in any startup.

Please note that the FAQs provided on this page are based on the news article published. While we strive to provide accurate and up-to-date information, it is always recommended to consult relevant authorities or professionals before making any decisions or taking action based on the FAQs or the news article.

Nisha Verma
Nisha Verma
Nisha is a talented writer and manager at ChatGPT Global News. Her contributions span across various categories, bringing diverse perspectives to our readers. With her natural curiosity and passion for AI-related topics, Nisha offers thought-provoking insights and engaging content.

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