📰 Table Of Contents
The Intersection of Blockchain and AI
In a recent interview with Cryptowire, Niraj Pant, co-founder of Ritual, discussed the evolving relationship between blockchain and AI. He highlighted the readiness of blockchain technology to integrate with AI and the mutual benefits this convergence brings.
Challenges and Opportunities
- AI and Crypto Symbiosis
- Decentralized AI Infrastructure
- Applying ML to DeFi
- Smart Agents in AI
- Ritual’s Collaboration with Story Protocol
Creating the Foundation for AI On-chain
Pant emphasized the emergence of AI in the crypto space, attributing it to advancements in ML architecture and the rise of consumer AI applications such as ChatGPT. He noted the recent developments that have made AI integration with blockchains more feasible, including improved speed, enhanced cryptography, and Layer-2 blockchains.
Crypto and AI: A Synergistic Relationship
Pant underscored the bi-directional benefits of the relationship between crypto and AI, emphasizing the potential for decentralized, transparent alternatives in the AI space. He highlighted the importance of combining the strengths of both technologies to enhance user behavior and market dynamics.
Missing: AI-enabled Dapps
Pant identified a significant opportunity in the lack of AI-enabled decentralized applications, leading Ritual to focus on enabling developers to incorporate AI into smart contracts. The team’s efforts culminated in the development of Infernet and Ritual Chain to support AI-native operations.
The GPU Conundrum and How Crypto Solves It
Pant discussed the challenges startups face in accessing GPUs for AI tasks and highlighted the innovative solutions offered by crypto AI, particularly in GPU-as-a-service models. He emphasized the role of Ritual’s partnership with Ionet in providing a global cluster of GPUs for AI model operations.
Using ML to Make DeFi More Efficient
Ritual’s release of Infernet ML toolkit aims to streamline ML workflows in decentralized finance (DeFi) applications. Pant emphasized the potential of AI in optimizing governance, risk management, and decision-making processes within DeFi protocols.
Future Outlook
Pant hinted at upcoming developments in the AI and crypto space, including Revolut’s plans to introduce new AI-driven use cases and personalized gaming experiences. He emphasized the exciting prospects for AI-enabled protocols and the ongoing evolution of the crypto x AI revolution.