As we approach the year 2024, the convergence of artificial intelligence (AI) and web3 technologies is expected to create a major boom within the cryptocurrency space. Analysts believe that the maturation of AI and crypto has paved the way for innovative developments that could redefine the landscape of digital assets.
According to Sandra Leow, an analyst at blockchain analytics platform Nansen, the emergence of AI agents is a significant development that incorporates elements from both AI and web3. AI agents are on-chain bots that have the potential to play a crucial role in processing transactions and exchanging value autonomously. Leow envisions a future where AI agents become a primary category of users on the blockchain, highlighting verification management applications using zero-knowledge learning technologies as potential examples.
Gemini’s 2024 Crypto Trend Report also emphasizes the potential of integrating AI and web3 to enhance privacy, data ownership, and human-generated content identification. The report points out the symbiotic relationship between decentralized crypto and centralized AI, suggesting that this combination could mitigate the weaknesses of centralization in AI. It also highlights the opportunities for privacy-enhanced machine learning through web3 innovations like zero-knowledge proofs.
The report further predicts an increase in deep fake scams as generative AI technology develops further. To combat this, the reliance on on-chain attestation technologies to verify the authenticity of content is expected to grow, as people’s default assumption will be that content is fake unless authenticated in some way.
In addition, AI-generated metaverses and web3 gaming are anticipated to experience significant growth in 2024. London Real Ventures CEO Brian Rose believes that web3 gaming will bring onboard the next one billion users onto the blockchain. Rose also predicts a game-changing merge of AI and web3, where AI will be used to build the majority of gaming metaverses.
While the convergence of AI and crypto presents exciting prospects for innovation and growth, it is important to approach these developments with caution. As with any emerging technology, there are risks and challenges that need to be addressed, such as privacy concerns and the potential for misuse. However, if harnessed responsibly, the converging forces of AI and crypto could lead to a transformative period in the digital asset space.
In conclusion, analysts predict that 2024 will be a year of significant convergence between AI and crypto, resulting in a major boom within the industry. With the maturation of both AI and web3 technologies, innovative developments are expected to redefine the landscape of digital assets. As we venture into this era of convergence, it is essential to consider the opportunities, challenges, and potential risks associated with these advancements.
