Blockchain AI: Navigating Path to $3.5 Billion Valuation by 2030
Emergen Research projects that, in 2019, the services sector will account for the most significant portion of the industry’s valuation and will continue to acquire traction.
Integration of blockchain AI into the financial services industry, asset monitoring, and tokenization are also anticipated to be critical to reaching this $3.5 billion valuation by 2030.
Leading crypto analysts have recently devoted considerable attention to the intersection of AI and blockchain technology.
The combination of both technologies is regarded as a potent duo whose application enhances the procedures and functioning of all sectors. AI can utilize blockchain technology, among other things, to distribute data pertinent to multiple models.
The use of machine learning models to recommend products in online retail is a prime example. This is consistent with Amazon’s strategy to introduce Olympus, a Large Language Model (LLM), via Amazon Web Services (AWS), its web services division.
Through Olympus, the technology titan intends to enhance its online retail platform. Concurrently, Amazon also strives to improve the functionalities offered by the Alexa voice assistant.
The modification targets devices such as the Amazon Echo to increase the value of the Amazon Web Services division. Olympus is reportedly an LLM with nearly two quadrillion parameters.
Significantly, this renders it among the most expansive LLMs ever created. The technology titan anticipates that the LLM will eventually contend with Microsoft’s Bing and OpenAI’s ChatGPT.
Significantly, data monetization serves as a primary catalyst for the blockchain AI industry. Data monetization is hypothesized to provide access to sophisticated blockchain and artificial intelligence, thereby supplementing the anticipated valuation.
AI-focused investments in the blockchain ecosystem have increased over the past year, attributable to the AI industry’s constant discovery of new developments and the crypto ecosystem’s voracious appetite for new technologies.