98. The convergence of crypto and AI w/ Niraj Pant
Mar 27, 2024
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Niraj Pant, Co-founder of Ritual, discusses the convergence of crypto and AI, the potential of AI-enabled on-chain applications, decentralized AI's impact on society, and the alignment of incentives in AI technology. Topics include integrating AI in crypto systems with Infernet, and historical challenges of cryptography export in the 90s.
Decentralizing AI through Ritual aims to integrate ML models into NFTs and games.
Leveraging AI in on-chain apps can enhance DeFi governance and NFT creation.
Creating a transparent AI ecosystem in crypto with blockchain-inspired attributes.
Deep dives
Background in Crypto and Academic Engagement
The guest shares their journey into the world of crypto starting from high school where they ventured into mining crypto with friends, leading to their interest in programming and academic involvement. They discuss collaborating with a cryptography professor, engaging with privacy-related projects amidst the emergence of Zcash and Tezos, and their exploration in the crypto space through various investments.
Founding Ritual and Decentralizing AI
The guest talks about leaving their previous role to establish Ritual in 2023, aiming to simplify smart contract developers' utilization of AI models within their projects. They elaborate on Ritual's objective of decentralizing AI by enabling the integration of ML models, deep learning tools, and other models into diverse products like NFTs and games, fostering the creation of a crypto AI ecosystem.
Enhancing Accessibility in AI and Crypto through Convergence
The conversation delves into the potential of AI-enabled on-chain applications and the convergence of crypto and AI. The guest emphasizes leveraging the generative and conversational capabilities of AI to facilitate complex queries and interactions, envisioning a future where AI enriches various sectors like DeFi governance, NFT creation, and media, driving a new wave of decentralized intelligence.
Building a Secure and Transparent Infrastructure for AI in Crypto
Focus shifts to the establishment of a secure and transparent ecosystem for AI in crypto, ensuring model integrity, privacy, and computational accuracy. A distributed network system, Infernet, and upcoming development, Ritual Chain, are highlighted as integral components to empower decentralized AI applications with blockchain-inspired attributes, aligning users' incentives and increasing accessibility.
Navigating Ethics and Governance in AI Development
The closing discussion explores the ethical dimensions of AI development and its alignment with human interests. The guest contemplates potential scenarios of advanced AI and the significance of open-source, decentralized frameworks to mitigate risks of centralized control. Emphasis is placed on fostering transparency, accountability, and collective ownership in driving the future trajectory of crypto AI convergence.
Forecasting Growth and Adoption in Crypto AI Intersections
Envisioning the future pace of crypto AI convergence, the dialogue foresees an upsurge in product innovation, developer engagement, and user adoption within the space. Anticipated milestones include the launch of consumer-driven AI native products, the proliferation of companies entering the sector, and heightened technical advancements to enhance crypto AI operability and ecosystem growth.
Niraj is the co-founder of Ritual. We talk the convergence of crypto and AI, how onchain apps can leverage AI, why compute needs to be decentralized, and whether decentralized AI will cause the downfall of human society (not to be dramatic).
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Disclaimer: Nothing said on On The Other Side is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Chase and our guests may hold positions in the companies, funds, or projects discussed.
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