How Web3 and AI are connected and changing the world?

Web3 and AI are two of the most transformative technologies of the 21st century. Web3 is an upgrade to the current Web2, where users can connect via a decentralized network and access their data. AI, on the other hand, enables computers to learn from data and make predictions. Together, they can revolutionize various domains such as finance, healthcare, education, media, and social networks.

One of the most significant benefits of combining Web3 and AI is the ability to create autonomous, decentralized groups called DAOs (Decentralized Autonomous Organizations). DAOs are self-governing entities operating on a blockchain network without central authority. They can be used for various purposes, such as voting, fundraising, decision-making, etc. AI can help DAOs in decision-making by providing intelligent insights and predictions based on data analysis.

Another area where Web3 and AI intersect is cybersecurity. Web3 aims to build an internet where users have greater access to and protection of their personal data and digital possessions. Blockchain technology provides a secure and decentralized way of storing data. AI can enhance this security by detecting and preventing cyber-attacks in real time.

AI can also help make transactions more efficient during tokenization, promoting more democratization. For instance, large language models (LLMs) can render on-chain data that is humanly readable. Users can now input queries to understand on-chain data that previously seemed cryptic to most. LLMs can translate complex blockchain data into simple natural language, making the technology more accessible.

Web3 applications can benefit from AI because of the intelligence and automation it can bring to decision-making, data analysis, management, security, privacy, etc. For example, AI-powered chatbots can provide personalized customer support to users of Web3 applications. They can also help automate tasks such as verification of KYC (Know Your Customer), smart contract development, etc.

AI can also help in creating more accurate and efficient prediction markets. Prediction markets allow users to bet on the outcome of future events such as elections or sports matches. They are used for various purposes, such as risk management, insurance, etc. However, prediction markets are often plagued by low liquidity and poor accuracy. AI can help improve prediction markets’ accuracy by analyzing large amounts of data and providing intelligent insights.

In conclusion, Web3 and AI are two technologies that profoundly change the world. Together, they have the potential to revolutionize various domains such as finance, healthcare, education, media, and social networks. They can create autonomous decentralized organizations that operate without any central authority. They can enhance cybersecurity by detecting and preventing cyber-attacks in real time. They can make transactions more efficient during tokenization, thereby promoting more democratization. They can bring intelligence and automation to decision-making, data analysis, management, security, privacy, etc., improving the overall user experience.

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• Source: https://www.fintechnews.org/how-web3-and-ai-are-connected-and-changing-the-world/