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Artificial intelligence will contribute to the development of the cryptocurrency industry.
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Artificial intelligence will contribute to the development of the cryptocurrency industry.

Feb 3, 2024

Blockchain analysts studied the research of 23 leading companies specializing in the field of blockchain and cryptography and presented the main trends for 2024. One of the key aspects highlighted in the study is the combination of artificial intelligence technology with digital currencies.

Experts noted that "the rapid development of artificial intelligence in 2023 also contributed to the development of AI+ Web3 services. At the beginning of January 2024, the market capitalization of tokens associated with this area reached $7.04 billion. Given the growing popularity of this segment, companies are making optimistic forecasts."

According to analysts, artificial intelligence will play a key role in increasing the attractiveness of blockchain platforms. The researchers note that the use of this technology in cryptography includes the use of trading and arbitrage bots, as well as automatic payment systems.

"Integrated scenarios involve the use of artificial intelligence to make payments using cryptographic infrastructure. In addition, the possibility of using smart contracts for secure model planning and rewards in the form of tokens for configuring algorithms and data collection is being discussed," the analysts added. They also recalled that Messari predicts that advances in artificial intelligence will lead to an increase in demand for cryptocurrency solutions.

In addition, artificial intelligence is actively used in combination with encryption to improve the user experience and increase efficiency in the Web3 sector. Bankless analyst Jack Inabinet believes that the combination of encryption and artificial intelligence "could be a very promising combination. Despite the fact that initially activity in this area was limited to low-quality projects created with the aim of obtaining quick benefits, today the prospects look very encouraging."

The researchers also recalled that representatives of DWF Labs claim that the management of social cognition using decentralized artificial intelligence has huge potential for development in 2024. According to analysts, this will become the main driving force in the development of the Web3 and cryptocurrency sectors.

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