As I have emphasized before, I am skeptical of the hype around artificial intelligence, as most AI projects seem to be inflated by speculators who will lose interest when the market cools down. We must always remember the nature of the market (trend and technology are two different things!) in which we are involved in.
While it is true that the Amber Group trading company has accumulated Fetch.ai $FET and invested $20 million, it does not change my opinion. The market is fickle and unpredictable. A fund that is not considered "good" (subjectively) is essentially focused solely on short-term profit.
I completely agree with Andre Cronje, the "godfather of DeFi", who argues that :"
- Blockchain = Slow (by centralized standards), transparent, secure;
- Al = High throughput, opaque, blackbox. I need to very clearly stress, these two things do not mix. That's like asking "What role do you see for Coca Cola in the construction industry?"
Blockchain and Al are not complementary, and (for now) anyone that jumps on the "Al" bandwagon is simply doing so for pump & dump reasons, if you see a project all of a sudden "pivot to Al", it just means they had nothing and are dead in the water.
If (and that's a very unlikely if) we get to a point where blockchains could handle the kind of throughput required that an neural net needs, we might be able to see them on-chain, but even then, the question would be; "but why?". Blockchains don't improve Al, and Al doesn't improve blockchain."
In my view, there is no substantial integration between artificial intelligence and cryptocurrency. It's not possible to simply insert AI into a blockchain. Tokens based on AI are just a passing trend, more like meme tokens, and the narrative of AI blockchain is just another cycle to artificially inflate the value of someone's investment.
Source: twitter.com/AndreCronjeTech Show Less
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