Artificial intelligence

Expert Predicts Blockchain Adoption to Naturally Increase with Rapidly Growing Use of AI

an image of interconnected symbols within AI

Technology is rapidly developing, and it is believed that the world is at the cusp of the Fourth Industrial Revolution. Emerging technologies like blockchain, artificial intelligence (AI), WEB3 and the metaverse already being deployed while continuously being innovated. For now, people are seeing a gradual change, not only in technology, but also in global business.

It is safe to assume that most of these emerging technologies have not yet reached even half of their potential. And when they finally do, it will be the advent of a new era in technology that will shake the world. The economy will go digital, business will become truly borderless, and entertainment will become virtual. 

These changes can be seen in the rapidly growing development and use of AI. While it is not up to the level like those depicted in science fiction movies like “S1MONE,” “Resident Evil” and “I, Robot,” developers have released AI platforms that have seen a mammoth increase in use. For instance, OpenAI’s ChatGPT, has seen record-breaking use since it was launched for public use in on November 30, 2022.

According to data analytics firm SimilarWeb, there were 1.5 billion total visits to the ChatGPT website in September 2023. It also became the application that reached 100 million users the fastest, beating Google+. It now has over 1.6 billion users, independent marketing platform Gitnux stated. 

ChatGPT is a generative AI platform that enables users to create new text content, like articles and papers. It not only makes writing easier, but it also suggests creative ideas that helps professionals work more efficiently. ChatGPT is but one proof of AI’s rapid growth, not only in development, but in its actual use.

And according to global tech firm IBM’s blockchain consultant for Central and Eastern Europe, Agata Slater, AI’s surge in popularity may also result in an increase in blockchain adoption. This may naturally occur as the technological capabilities and requirements needed for AI to flourish can be provided by blockchain. 

“Questions will start popping up about what is happening to our data, where it is going and what has fueled ChatGPT. All these questions about privacy, transparency, and immutability will become relevant, so it might lead to greater blockchain adoption amidst this backdrop of AI,” Slater said in an interview at the most recent Technology of Tomorrow Conference.

Because when these questions are asked, blockchain has all the answers. Blockchain not only records and stores data in an immutable manner, it also automatically timestamps transactions. And this chronological history of all transactions is contained in all nodes on the network, making data distributed. This accounts for no data loss, as well as a decentralized network that is virtually hack-proof.

“So rather than thinking about blockchain on its own as a separate piece of technology that can change the world or at least optimize it, I think it’s more exciting to think of blockchain as a backend layer, as some sort of data standards that should be running in the back of applications,” Slater explained. 

Ai on blockchain then becomes a logical, if not necessary, combination. Not only will AI necessitate a gargantuan database, but it will also generate more data as it is used. A blockchain that can scale on demand will be able to handle this kind of data size and transaction capacity even in the future. And so, AI development and use will result in a natural progression toward blockchain adoption.

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