Janet Adams, COO of SingularityNet, believes that blockchain is key to the democratization of powerful technologies such as artificial intelligence (AI). An idea that runs contrary to the prevailing sentiment that AI and blockchain are incompatible.
Janet Adams, COO of SingularityNet, the company behind the most popular AI utility token, AGIX, believes that blockchain is the key to democratizing AI. Speaking exclusively to BeInCrypto, Adams went against the grain of much of the industry, which largely believes the two technologies cannot integrate.
Role of SingularityNET
SingularityNet is a decentralized platform that aims to facilitate the creation, interaction, and coordination of AI.
“Blockchain is the fabric of decentralization,” Adams said. She went on to offer a general assessment of the complementarity of blockchain and AI.
“There is no better technology than blockchain to implement democratic and decentralized governance and access, for secure Artificial General Intelligence (AGI), and for democratizing access to powerful technologies.”
Blockchain democratizes AI
“Blockchain enables decentralized governance, decentralized everything, and our AI all runs on our decentralized marketplace,” he continued.
Dr. Ben Goertzel founded SingularityNet in 2017. He is one of the world’s leading experts in Artificial General Intelligence. A term used to describe highly autonomous systems that have human-level cognitive abilities.
AGI includes abilities such as comprehension, learning, reasoning, problem solving, and creative thinking. SingularityNet estimates that human-level AGI is only three to seven years away.
Would it be impossible to have democratic AI without blockchain? “No,” argued Adams. “But, it would certainly take a significant amount of additional engineering, work, time and expense. Blockchain is the perfect technology.”
Proponents of AI are naturally concerned about the danger of Big Tech replicating centralization and inequality. Four of the five biggest companies on the planet are tech giants: Apple, Microsoft, Alphabet, and Amazon.
“We are very committed to using blockchain with its decentralization methods to ensure that our AI is governed by the widest group of people on the planet.”
Are AI and Blockchain Compatible?
According to CryptoSlate, SingularityNet is the second largest AI token by market capitalization.
However, not everyone is convinced of the potential of connecting AI and blockchain. Several industry figures have expressed doubts about their compatibility. Andre Cronje, founder of smart contract platform Phantom, has compared oil and water, saying that the two do not mix.
“Blockchain and AI are not complementary, and (for now) anyone jumping on the ‘AI’ bandwagon is doing so for pump and dump reasons. If you see a project suddenly turn to AI, it has Meaning they have nothing and they are watered down…. Blockchains don’t improve AI, and AI doesn’t improve blockchain.
In a discussion with BeInCrypto, Lex Sokolin, chief crypto economist at Consenys, described AI and blockchain as “orthogonal vectors”. In his view, they are independent, distinct, and “express very different things.”
During the peak of the AI token boom, BeInCrypto heard from several industry figures about the incompatibility of the two technologies.
The AI token boom has cooled off significantly since the February and March highs. The rush became so intense that traders could potentially walk away with multiples of thousands of their original investment in mere weeks.
SingularityNET’s flagship token, AGIX, also saw significant gains. If not in the same ballpark as ANW and GNY. Its fastest pump was a 205% increase in just five days in early February.
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