Without any doubt, the wave of AI has been influencing every sphere associated with technologies including web3. Experts have described web3 as the future of the Internet. It offers advanced security, scalability, and decentralization to users. This simply means by onboarding to web3, users will be able to control their data without any censorship. Therefore, web3 strips the likes of Google, and Meta of their monopolistic internet power. By virtue of this, users retain control over their data and can choose to sell if they wish to.
The father of web3 is Gavin Wood. He coined the concept in 2014 in line with his pursuit of a truly decentralized ecosystem. Wood believes web3 comes with optimal security and user privacy and has been pursuing these promises with his Polkadot project. It is worth establishing that the basic tenet of web3 is its decentralization.
Today, there are hundreds of web3 apps on blockchains, availing the true promise of decentralization to their respective users. The kind of apps that fall into this category are called dApps. Meanwhile, AI fully called Artificial Intelligence is a replication of human intelligence in computer systems. This technology has the capacity to write machine learning algorithms. Likewise, it gathers a large chunk of data, analyze it to predict future situations. With this, we can affirm that AI is enveloped with three skills. They include reasoning, learning, and self-correction.
Web3 needs AI to thrive in its focus to provide an advanced Internet experience to its users. AI software like natural language and machine learning are said to be significant in fostering data accuracy on the web. Machine learning, for instance, is designed in such a way that it leverages existing data and algorithms to replicate human learning, thereby producing faster results in many areas.
Roles of AI in Web3
The role of Artificial Intelligence in Web3 cannot be overemphasized owing to how it has contributed to the advancement of the decentralized internet. One of the foremost roles of AI in the Web3 space is how it has enabled it to gain a more decentralized posture. Further, the Web3 space has leveraged the capacity of AI to avail its services to more users.
This is possible owing to how AI has helped supply more content to the Web3 space. Initially, almost every AI model is structured based on data from a centralized entity. Now, its adoption in the Web3 space has provided users with a wide range of information from a centralized entity but in a decentralized and personalized delivery.
Similarly, AI in the Web3 space has helped give due credit and remuneration to content creators. This is due to how personal AI can aid content creators in creating and gaining value for their initiatives. Also, it has created emerging opportunities for content creators and their communities. Meanwhile, AI over time has shown flashes of how it can enhance the functionality of smart contracts. This is possible in a way that the Web3 project can also integrate AI to advance the decision-making and capabilities of smart contracts.
Additionally, AI has contributed to the development of Web3 as a result of how it has enhanced privacy, and security, and reduced reliance on centralized entities. All these aforementioned features, to an extent, have contributed to the development of Web3.
Conclusion
However, it is worth mentioning that both AI and Web3 are still at a nascent stage. More so, many regard the two innovations as rivals, due to how the growing interest in AI has cooled the attention to Web3. Nevertheless, we’ve seen flashes of how the two can co-exist and aid their respective growth.
The adoption of Artificial Intelligence by some blockchain initiatives and eventually, Web3 has signaled their compatibility. Web3 seems to have benefited the most from the union, as a result of how AI has complemented some of its shortcomings. Consequently, this led to a remarkable development in the Web3 sphere.