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: Understandthe 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.
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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.
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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.
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