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Home Crypto News & Analysis Adoption & Use Cases

The potential of decentralized artificial intelligence in the future

by Abena Sarfo
April 14, 2024
in Adoption & Use Cases
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The potential of decentralized artificial intelligence in the future
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We live in a world of technology and innovation. Artificial Intelligence (AI) is a powerful tool in today’s world to analyze large amounts of data and make decisions faster than any human ever could. But as AI grows in popularity, the evil consequences of all that power in the hands of a few centralized entities become more vivid.

Now imagine a world where AI is not controlled by just one central authority. Instead, it operates on a decentralized network where everyone has equal power and true ownership of their data. This is where the idea of ​​Decentralized Artificial Intelligence (DAI) comes into play. With this article, we take you to the world of Blockchain-based artificial intelligence projects and their impact on our lives.

A Brief Overview of Decentralized Artificial Intelligence (DAI)

Decentralized Artificial Intelligence (DAI) is a type of AI system that uses Blockchain technology to store and process data. In a DAI system, decision-making processes are decentralized and based on consensus among multiple nodes instead of being controlled by a single central authority. This approach provides a safer, more transparent and reliable alternative to traditional AI systems.

The current state of AI and its limitations

Artificial intelligence, or AI, has been making headlines in the tech industry for decades. In recent years, the use of AI has increased in popularity. The average number of AI systems used by various organizations has doubled. It rose from 1.9 in 2018 to 3.8 in 2022. AI-enhanced technologies and solutions are now more widely available than before across industries, although they are not necessarily cheap to implement. Furthermore, AI has the potential to play a major role in Metaverse development.

Also read: Top five trends to follow in 2023 to scale your Web3 business

However, modern AI technology is not error-free. It comes with several limitations such as the following:

The issue of centralized AI systems

Centralized AI systems have several key issues stemming from their reliance on large data sets. One of the defining challenges of the next decade of artificial intelligence (AI) is determining whether data and intelligence will be democratized or remain in the control of a few large organizations.

Centralized AI plays favorites. It puts the power of smart technology in the hands of those with access to vast amounts of data and top technology. This leaves others behind and creates a digital divide. This problem can be solved using Blockchain technology-based artificial intelligence or decentralized AI systems.

Also read: Understand​​​​the interdependence of Web3 and Blockchain

The issue of data privacy and security

Data privacy and security are two of the biggest concerns in the rapidly growing field of artificial intelligence. AI algorithms are associated with analyzing large volumes of data. This is a key requirement for the developed algorithms to produce accurate outputs. Data is essential for AI algorithms to work properly and produce accurate results. This data can range from everyday transactions to sensitive information such as biometrics and personal details.

But the downside is that AI can also identify vulnerabilities in computer systems, making it easier for hackers to attack. Security experts have noted that AI-generated phishing emails actually have higher rates than hand-crafted phishing emails that are opened by potential victims to click on and thus generate attacks. Furthermore, the Metaverse development is heavily dependent on AI and big data. As such, the issue of data privacy and security in this space is even more pressing.

Also read: The future of social media in the metaverse

How Blockchain-Based Artificial Intelligence Addresses These Limitations

Decentralized networks and distributed computing power

Blockchain-based artificial intelligence, or decentralized AI projects, take advantage of the openness and traceability of the shared ledger. This is because open Blockchain networks are publicly verifiable by anyone. Decentralized AI marketplaces like SingularityNet enable smaller companies to offer their AI applications as a service, democratizing market access for startups.

Moreover, decentralization can lead to increased innovation. In a centralized system, only a single entity is responsible for development and decision making. However, in a decentralized system, many different entities can contribute to the development and improvement of the AI ​​system, leading to a greater variety of perspectives and more innovation.

Want to learn Blockchain technology like an expert? Blockchain Council offers you the best Blockchain certification and Blockchain technology training that will help you learn and understand Blockchain development.

Improved data privacy and security

A blockchain-based artificial intelligence technology is more transparent than a closed AI system. Blockchains encrypt data so that only authorized users can access it. This prevents unauthorized parties from viewing anything. It also makes it easier to detect and prevent attacks, as any deviations can be quickly detected and addressed by multiple nodes.

A decentralized AI system’s increased security could have a significant impact on the Metaverse. Blockchain technology’s transparency and accountability can help develop trust between users and virtual entities in the Metaverse. This trust is critical to the Metaverse’s growth and success.

Learn from the best of the AI ​​industry, sign up for artificial intelligence certification and become a certified artificial intelligence expert.

Disclaimer for Uncirculars, with a Touch of Personality:

While we love diving into the exciting world of crypto here at Uncirculars, remember that this post, and all our content, is purely for your information and exploration. Think of it as your crypto compass, pointing you in the right direction to do your own research and make informed decisions.

No legal, tax, investment, or financial advice should be inferred from these pixels. We’re not fortune tellers or stockbrokers, just passionate crypto enthusiasts sharing our knowledge.

And just like that rollercoaster ride in your favorite DeFi protocol, past performance isn’t a guarantee of future thrills. The value of crypto assets can be as unpredictable as a moon landing, so buckle up and do your due diligence before taking the plunge.

Ultimately, any crypto adventure you embark on is yours alone. We’re just happy to be your crypto companion, cheering you on from the sidelines (and maybe sharing some snacks along the way). So research, explore, and remember, with a little knowledge and a lot of curiosity, you can navigate the crypto cosmos like a pro!

UnCirculars – Cutting through the noise, delivering unbiased crypto news

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Abena Sarfo

Abena Sarfo

A champion for economic empowerment, Abena showcases how blockchain can bridge the financial gap in developing economies. Her insightful articles highlight real-world projects and initiatives bringing financial services to unbanked communities.

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