The use of artificial intelligence (AI) in cryptocurrencies, while still in its early stages, has shown growth prospects. According to statistics, the blockchain AI market is projected grow from $220.5 million in 2020 to $973.6 million in 2027 at a CAGR of 23.6% over the period 2020-2027. Countless projects are trying to put AI at the forefront of their use cases.
Despite Tesla CEO Elon Musk and other prominent tech moguls wrote an open letter, asking governments to temporarily suspend large-scale AI development, the crypto industry is full of AI projects. Here are some examples of crypto AI projects that have sprung up in the community recently:
block tracking
Blocktrace is a service provider that specializes in Blockchain forensics and analytics enhanced by the use of AI technology. Their AI Chatbot is designed to simplify the follow up process. block chain transactions. Austin-based startup Blocktrace aims to harness artificial intelligence to speed up the blockchain analysis process and make it easier to identify trends and anomalies.
The company developed an AI chatbot called Robby the Robot, named after the iconic character from the sci-fi movie "Forbidden Planet," to interact with data on the Bitcoin blockchain.
SingularityNET
SingularityNET is a decentralized AI marketplace that uses blockchain technology to provide a platform for AI developers to share and monetize their algorithms. It enables the creation of AI-powered decentralized applications (dApps) that can be used in various industries, including finance, healthcare, and transportation.
search.ai
thrown through initial exchange offer (IEO) on Binance, Fetch.ai is a decentralized platform that uses AI and machine learning algorithms to create Autonomous Economic Agents (AEAs). By using Fetch.ai tokens, users can create and deploy their own digital twins on the network.
Developers, by paying with tokens, can access machine learning-based utilities to train autonomous digital twins and deploy collective intelligence on the network. It helps users to perform various tasks such as data analysis, prediction markets, and supply chain management. Its goal is to create an efficient and autonomous digital economy.
Liquid Artificial Intelligence
Artificial Liquid Intelligence is a platform that operates in a decentralized manner and uses AI and blockchain technology to establish a data marketplace. It gives data owners the ability to monetize their data while retaining authority over their privacy and security. The AI Protocol works with the help of the Artificial Liquid Intelligence (ALI) utility token.
RLC iExec
iExec RLC is a decentralized cloud computing platform that uses AI and blockchain technology to provide a secure platform to run dApps that require high computing power. It allows developers to monetize their computing resources and offers an alternative to traditional cloud computing services.
Related: Government Should Fear AI, Not Crypto: Galaxy Digital CEO
The mentioned projects showcase a variety of crypto-based applications using AI parameters, although they are still in their early stages. These applications range from decentralized marketplaces and data exchanges to autonomous economic agents and cloud computing platforms.
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