How AI Agents Are Transforming The Web3 Sector
Rachel Wolfson has been covering the cryptocurrency, blockchain and Web3 sector since 2017. She has written for Forbes and Cointelegraph and is the host and founder of Web3 Deep Dive podcast.
Artificial intelligence (AI) is impacting every sector, yet it’s believed that AI will heavily disrupt the blockchain industry moving forward.
Recent market insights show that the intersection of AI and blockchain technology is expected to be worth over $2.7 billion by 2031.
While various use cases are still underway, a number of Web3 companies have started to incorporate AI agents to perform specific tasks.
Danny O’Brien, Senior Fellow at Filecoin Foundation, told Cryptonews that AI agents are autonomous software systems that leverage one or many AI models. O’Brien explained that these agents have access to data and tools, allowing them to run a sandbox, query databases or even execute a smart contract.
“Web3 developers are building agents that can handle complex tasks, while also paving the way for collectives of agents that can specialize in completing multi-step tasks,” O’Brien said.
Ron Bodkin, Co-Founder and CEO of Theoriq – an AI communication platform – added that unlike large language models (LLMs) such as ChatGPT, AI agents are designed to achieve specific goals or perform certain functions.
“This is often by processing selected input data, analyzing it, and taking appropriate actions based on predefined rules or learned behavior,” Bodkin said. “ For example, the Theoriq protocol is purpose-built to give agents planning, routing, self-reflection and iteration capabilities – via teams of agents collaborating in ‘Collectives.’”
O’Brien shared that Filecoin Foundation – the organization behind the decentralized data storage
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