The Web 3.0 economy won’t be like anything we’ve seen. Imagine smart cities; blockchain-powered supply chains; token-based rewards; and decentralized applications (dApps) and IoT (internet of things) that are run on artificial intelligence (AI).
Will you be ready for these disruptions?
The day is approaching: Organizations and governments are pouring money into AI. It’s estimated to grow 48% compound annual growth rate (CAGR) by 2021, representing $58 billion in global investment over same period, according to World Economic Forum.
Artificial intelligence has 3 components: computing power, data, and algorithms. Moreover, AI can efficiently allocate excess computing resources. By 2019 there’ll be 5 billion mobile phones worldwide and there’s currently close to 2 billion personal computers.
“Many businesses and individuals have idle storage and computational capacity, and they can monetize these and help others via decentralized cloud computing [DCC],” says Max Rye, CEO of DeepCloud AI, a cloud firm that uses artificial intelligence. “For example, AI can match nearby computing resources with real-time customer demand, which improves speed, reduces cost, and prevents clogged networks.”
The tech can also secure an ecosystem from hacks, Rye tells Equities.com.
So where’s the disruption? It’s how the industry’s business model is incorporating distributed resources, as well as, AI.
The cloud industry is dominated by publicly-traded giants: Google Cloud, Amazon Web Services, and Microsoft Azure. The problem? These branded solutions are expensive, and 30% operating margins are common, a blockchain expert tells Equities.com. Therefore, these cloud providers tend to serve big-budget enterprises—leaving out most everyone else.
Decentralized cloud computing (DCC), on the other hand, offers low-cost alternatives by pooling idle resources such as excess storage, idle computing capacity, and extra network solutions. That means if you’ve got powerful processors collecting dust at the garage, you can connect to a DCC network to use the devices and reduce cost for users.
With AI guidance, computers can solve real-world problems such as web monitoring, science research, financial calculations, language mapping, and other challenges. The lower cost makes cloud computing more accessible to smaller-budget entities like schools, non-profits, researchers, media outlets, and small businesses.
“AI-powered DCC can save users money, whether you’re an IoT developer or dApp developer,” says Rye. “Developers can then focus on improving their application and worry less about deploying resources or buying expensive infrastructure. In our case, AI matches resource providers with demand close to the location of use.” DeepCloud AI is raising funds through a token sale.
How exactly can smart cities use AI-powered distributed cloud computing? (Dubai officials announced in Dec. 2018 they want public services to be completely run on blockchain by 2020.)
IoT apps can use the tech to better monitor threats (i.e., license plate detection). Moreover, it can enable blockchain-powered micropayments that are frictionless and cheap; or provide dApp developers with marketplace of reusable applications; or digitize and track a complex supply chain.
The use cases abound.
Since the emergence of Bitcoin, decentralization has prompted a seismic shift in business paradigm. Artificial intelligence, too, is growing in leaps and bounds. Algorithms can guide shared computing resources to improve practices and drive results.
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