Niraj Pant, Co-founder of Ritual, on The Future of Crypto and AI, Decentralized AI, and Applying ML to DeFi | Ep. 324
In an exclusive interview with Cryptonews, Niraj Pant, co-founder of Ritual, the decentralized execution layer for AI, talked about why blockchain and AI haven’t joined hands yet – and how blockchain is reaching the point where it’s ready to do that.
He told us how the relationship between AI and crypto is mutually beneficial, the lack of AI-enabled dapps and what Revolut is doing about it, the GPU problem and how crypto solves it, why some DeFi aspects are inefficient and how ML can change that, and more!
In this interview, Pant discussed:
Niraj Pant gave a wide-ranging interview, which you can see above or read below.
It is notable that AI crypto is emerging now and not, let’s say, during the last cycle, Pant told Cryptonews Podcast host Matt Zahab.
There has been an idea of decentralized AI for a long time. But it faced a number of challenges. It couldn’t reach the level of what is today a growing sub-industry within the crypto space.
A key challenge is that there simple wasn’t the developed transformer (deep learning) architecture as we see it now.
Yet today, we find machine learning (ML) architecture behind numerous large language models used in massive products, such as ChatGPT.
Additionally, there were not even many consumer AI applications to speak of before.
Following the rise of transformer architecture, as well as the creation of ChatGPT and GPT-3 in 2020, “a new renaissance in AI development” has begun.
“We finally saw a big AI consumer use case,” Pant said.
Now, numerous companies and startups are using AI, developing it, and/or raising money for it.
Before all this had happened, bringing AI to blockchains was pretty much impossible. Blockchains could not efficiently support actions such as training, inference, and
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