While general awareness surrounding the term artificial intelligence (AI) has undoubtedly grown over the past couple of years — as highlighted by its rising number of Google searches — it is still difficult to put into numerical terms the impact this technology has had across a myriad of industries.
Searches related to the term ‘artificial intelligence’ over the past 24 months
Conservative estimates by Goldman Sachs suggest that investments into various AI tools are set to approach the $200 billion mark by the end of 2025. Similarly, analysts from Bloomberg Intelligence (BI) believe the generative AI market (which includes LLMs such as ChatGPT and Perplexity) will reach a staggering valuation of $1.3 trillion over the next decade.
Market interest in AI technologies (source: Goldman Sachs)
The growth mentioned above stands to be driven by various factors, including the advancements made in AI training infrastructure, the increased use of AI in digital advertising/marketing, as well as the creation of specialized AI software across various industries.
AI’s widespread influence has become undeniable
As highlighted above, AI’s influence has rapidly started to permeate a whole host of Web3-centric industries recently. For instance, within the realm of fraud detection, firms like Quantstamp have started to leverage the power of AI to enhance user security. By deploying AI-trained algorithms, that platform is able to automatically scan and identify vulnerabilities in smart contracts and blockchain networks.
Similarly, Chainalysis, another prominent player in this space, has applied AI and machine learning (ML) to analyze vast amounts of blockchain data, thus helping it detect fraudulent transactions in real-time.
Within the realm of accessibility, platforms like Voiceitt have developed speech recognition modules for ‘non-standard speech patterns,’ thereby opening up the world of voice technology to people with verbal disabilities, aging adults, and even accented speakers.
EliseAI, on the other hand, offers AI-powered conversational tools that can automate administrative tasks like appointment scheduling and sending payment reminders.
That said, among the many sectors that have been influenced by AI, digital marketing has stood out as a particularly fertile ground for innovation. In fact, the marriage of AI and Web2 advertising technologies is beginning to reshape the existing status quo, addressing several long-standing inefficiencies across this entire realm.
At the forefront of this transformation is AdEx, a Web3 platform tackling some of the most pressing challenges (from ad fraud and lack of transparency to privacy concerns and ineffective targeting) pervading the online advertising industry.
AdEx uses AI to optimize its ad performance ratio, ensuring that advertisers can reach their target audience more effectively. Moreover, by integrating advanced ML-trained algorithms, the platform can analyze user behavior patterns, predict engagement rates, and even optimize ad placements in real time.
As part of a recent upgrade, AdEx introduced a completely revamped version of its platform with enhanced AI and Zero-Knowledge (ZK) capabilities. While the AI system processes user data to create targeted advertising profiles, the ZK protocols ensure that this data remains private and secure.
The new platform also introduces other features, such as reduced campaign fees of 7% (with a further reduction to 4% possible if users deploy ADX tokens), a deposit incentive offering a 30% bonus for deposits over $10,000, and expanded payment options, including various cryptocurrencies.
Lastly, AdEx has also added support for the Polygon network — a popular Ethereum layer 2 (L2) — allowing it to offer not only near-instant transactions but dirt-cheap fee rates as well.
The road ahead
While the marriage of these two seemingly disparate worlds, i.e. Web3 and AI, may look weird to some, the fact of the matter is that their futures are becoming increasingly intertwined.
With the Web3 sector projected to reach a cumulative valuation of $177.58 billion by 2033 — with the AI market boasting similar impressive numbers — it is not unreasonable to assume that their continued synergy could help unlock new possibilities, especially within areas such as digital marketing, online advertising, etc. Interesting times ahead, to say the least!
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. He is open to public speaking and advising engagements.