30s Summary

The integration of artificial intelligence (AI) and blockchain technology could unlock the true potential of AI, according to Gurav Sharma, Kartin Wong and Ron Chan, tech leaders in the blockchain AI sector. Sharma believes blockchain could better meet the demand for graphics processing units (GPUs) than current cloud services, while Wong suggests blockchain-derived AI could provide more democratic ownership structures to its users. Chan claims that the independence that blockchain facilitates is critical for optimized AI. All three urge caution on investors and vigilance in avoiding false AI projects, emphasizing the importance of prior team performance and product testing.

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You may have heard that the merging of artificial intelligence (AI) and cryptocurrency is the future of tech. There have been artificial intelligence crypto tokens that have a market value over $1 billion in recent years. But the question is, have you heard about it from an average user?

Most AI users mention programs like ChatGPT, Brave’s Leo search app or Microsoft’s Copilot for their day-to-day needs. You hardly hear someone say they use a blockchain or crypto protocol. So, what does this mean for the future of AI and blockchain? Is it really going to change the world or is it just a way to raise money?

Cointelegraph sat down with a few big wigs from leading blockchain AI platforms to get their take on this.

Guarav Sharma, the main tech guy at AI project IO, believes that blockchain projects can keep up with the huge demand for graphics processing units (GPUs), something that current cloud computing services can’t manage. Sharma used to work in the hotel business, creating AI models to help with price predictions and hotel booking tendencies. He once contacted Amazon to get enough GPUs for his model but they didn’t have enough in stock for him.

He thinks the real problem is that big cloud computing providers take ages and cost a fortune to set up servers, let alone servers in a customer-specific location. That’s when he thought of GPU power platforms where customers can find servers and providers can offer their GPUs, allowing people to find GPUs irrespective of the provider.

That being said, Sharma does recognize some AI teams aren’t pulling their weight, in broader AI industry and specifically in blockchain AI. He advises investors to look into the track record of the team behind each project, those that have done good work in the past are more likely to do good work in the future.

Kartin Wong, the co-founder of ORA, believes that blockchain prediction markets will need to use AI in the future. AI models could possibly answer any question, if the information is available on the internet.

On ORA, Wong says that models are owned by token-holders, allowing them to profit from their success. He believes that this arrangement solves a big problem in AI where most models need to be owned by a company for investors to see a return.

Like Sharma, Wong also acknowledges some fake AI projects in the market. He notes it’s sometimes hard to differentiate between fake and real AI. His opinion? The best way for investors to know whether a product is truly AI-powered is to actually use it.

Do we need blockchain for AI to reach its real potential? Yes, says Ron Chan, co-founder of blockchain AI protocol Inference Labs. According to him, only blockchain enables truly independent AI, as opposed to centrally developed AI where the company’s goals are prioritized.

While there are projects showing the benefits of blockchain AI – a chat app, an aircraft-tracking venture and a liquid staking app – the real revolution may still be on the horizon. But one thing is certain, these experts strongly believe in the game-changing potential of blockchain AI.