Davos: Could the new interest in AI help boost Blockchain technology?

The annual World Economic Forum in Davos, Switzerland brings together some of the most influential people in business and technology. This year, the focus is on the potential of artificial intelligence (AI).

ChatGPT’s impressive performance and crypto market crash took the spotlight away from blockchain technology at the event.

However, experts from the World Economic Forum and major institutions believe that artificial intelligence and blockchain can work well together. If this is true, the sudden rise in interest in artificial intelligence may help fuel interest in blockchain technology as well.

The 23rd edition of the World Economic Forum largely focuses on artificial intelligence and its potential applications. This is not surprising, since Open.AI has recently released the ChatGPT language model. The model, which produces dialogue that is often impossible to distinguish from human reactions, has been available to the public since November 2022.

Furthermore it, chat It contains a large amount of information and can provide reasonable answers to questions on a wide range of topics.

OpenAI’s impressive ChatGPT tool captured the imaginations of the CEOs, venture capitalists, and other experts present. They are convinced that artificial intelligence has the potential to be a game-changer in technology.

The development of artificial intelligence can help companies reduce costs, provide better service, and improve customer experience. Moreover, AI-based automation can help boost productivity in sectors, in particular white collar work.

At the same time, there are prominent Decreased vision of the crypto companies at the event. The cryptocurrency market crash has affected the marketing efforts of companies in the space, and blockchain initiatives have taken a back seat.

However, the sudden rise in interest in artificial intelligence may also boost blockchain. Notably, the World Economic Forum sees both Artificial intelligence And blockchain As technologies that can shape the future.

WEF experts highlight the synergies between Blockchain and AI

Many WEF experts believe that these two technologies are complementary and can enhance each other. The combination of AI and blockchain technology can lead to important synergies and create a powerful mix in technology.

For example, an expert highlighted the potential of blockchain technology and AI in Preserving the marine environment.

"Technologies like blockchain - the distributed ledger technology that underpins the bitcoin currency - could help enforce the new treaty by tracking fishing on the high seas and identifying illegal behavior," said Dominic Waughray, head of WEF Center for Global Public Goods. 

At the same time, AI can help reduce the cost of monitoring seas for illegal activity.

Blockchain technology can also help address some of the issues that come with the exponential development of artificial intelligence. One of those Deepfakeor videos showing real people created entirely artificially.

As deepfakes improve, it will be difficult to distinguish them from the original videos. This already causes real problems. For example, scammers use Elon Musk deepfakes To promote fake gifts.

Blockchain can provide the transparency needed to identify deepfakes, and help ensure that AI-generated media is not misused.

Applications of artificial intelligence in cryptocurrency trading and decentralized artificial intelligence

AI has already impacted the crypto space and found some practical applications. For example, some traders use ChatGPT for Write AI trading bots To make more accurate predictions for the cryptocurrency markets.

AI tools can also scan the market for potential risks and opportunities. This can help investors act on important market shifts and make more profitable deals. On the other hand, hackers have already used ChatGPT in Create malware.

Others are exploring building possibilities Decentralized AI networks using blockchain technology. Until now, AI systems have been in the hands of big tech companies. Microsoft plans to invest $10 billion in OpenAI.

Decentralized AI networks can be used to prevent big tech companies from having too much power over AI. By using blockchain technology to distribute control, these projects can create more trust in AI.

AI and blockchain can help shape the future of technology. We’ll likely see more projects that explore synergies between these two expanding technologies.

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