AI Tokens to Democratize Access To Artificial Intelligence Models
Artificial Intelligence (AI) is set to be one of the most transformative technologies of the century. A new report from ResearchAndMarket.com projects the global AI Market is expected to be valued at around $1,057.47 billion by 2030.
Unsurprisingly, this potential has fueled immense growth in AI-related stocks, including microchip giant Nvidia, whose shares have soared by nearly 1,900% over the past five years.
Nvidia $NVDA just closed the trading day above a $2 Trillion market cap for the first time in its history pic.twitter.com/FHGIa5E0TP
— Evan (@StockMKTNewz) March 1, 2024
Despite these advancements, industry experts have pointed out that AI continues to behighly centralized, with an extremely complex underlying infrastructure.
Dan Thomson, CEO and Founder of Sensay – a blockchain-based AI project – told Cryptonews that the current AI landscape is marked by high entry barriers, including the need for substantial computational resources, specialized knowledge, and data privacy concerns.
“These challenges limit the ability of individuals and smaller entities to leverage AI technology,” he said. “Moreover, the concentration of AI development in the hands of a few major corporations raises concerns about monopoly, bias, and lack of diversity in AI applications.”
Thomson explained that decentralized AI solutions that incorporate cryptocurrency are needed to solve these challenges.
“AI tokens present a pathway to democratize access to AI technology, fostering innovation and inclusivity in its development and application,” said Thomson.
According to Thomson, AI tokens are assets that are tied to AI services or platforms. He said these cryptocurrencies are often used to facilitate transactions, access services, or incentivize
