Blockchain essential for democratization of AI

Janet Adams, COO of SingularityNET, believes blockchain is essential to democratize powerful technologies such as artificial intelligence (AI). A view that runs counter to the prevailing sentiment that AI and blockchain are incompatible.

Janet Adams, CEO of SingularityNET, the company behind the most popular AI tool, AGIX, believes blockchain is critical to democratizing AI. Speaking exclusively to BeInCrypto, Adams cut across much of the industry, which largely believes the two technologies cannot be integrated.

SingularityNET’s role

SingularityNET is a decentralized platform that aims to facilitate the creation, interaction and coordination of AI.

“Blockchain is the stuff of decentralization,” Adams stated. She went on to offer a general assessment of the complementarity of blockchain and AI.

“For secure Artificial General Intelligence (AGI), and for democratic access to powerful technologies, there is no technology better than blockchain to implement democratic and decentralized governance and access.”

Blockchain democratizes AI

“Blockchain enables decentralized governance, decentralized everything, and our AIs run on our decentralized marketplace,” she continued.

Dr. Ben Goertzel founded SingularityNET in 2017. He is one of the world’s foremost experts on artificial general intelligence. A term used to describe highly autonomous systems that have human-level cognitive abilities.

AGI includes abilities such as understanding, 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 a democratic AI without blockchain? “No,” Adams argued. “But it would certainly take a huge amount of additional engineering, work, time and expense. Blockchain is the perfect technology.”

Proponents of AI are understandably anxious about the danger of replicating the centralization and inequality of Big Tech. Of the five largest companies on the planet, four are technology giants: Apple, Microsoft, Alphabet and Amazon.

“We are very committed to using the blockchain, with our decentralization methods, to ensure that our AI is controlled by the widest group of people on the planet.”

Are AI and Blockchain compatible?

SingularityNET is the second largest AI token by market cap, according to Cryptoslate.

However, not everyone is convinced of the likelihood of connecting AI and blockchain. Many people in the industry have expressed skepticism about their compatibility. Andre Cronje, the founder of the smart contract platform Fantom, has said that the two do not mix, comparing them to oil and water.

“Blockchain and AI are not complementary, and (so far) everyone jumping on the ‘AI’ bandwagon is simply doing so for pump and dump reasons. If you see a project suddenly turning to AI, it just means they had nothing and are dead in the water… Blockchains do not improve AI, and AI does not improve blockchain.”

In a discussion with BeInCrypto, Lex Sokolin, Chief Cryptoeconomist at Consenys, described AI and blockchain as “orthogonal vectors.” in his view, they are independent, distinctive 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 considerably since the peaks in February and March. The rush became so intense that traders could potentially walk away with thousands of their original investment in just weeks.

SingularityNET’s flagship token, AGIX, saw significant gains as well. If not quite in the same ballpark as ANW and GNY. The sharpest pump was a 205% increase in just five days in early February.