A significant challenge for AI lies in its potential to compromise privacy. Artificial Intelligence (AI) systems depend on vast amounts of data, which could be exploited for identity theft or cyberbullying. There are worries about personal data being utilized to train AI models, the creation of deepfake voices or faces for fraudulent activities, and nations conducting information warfare campaigns.

But blockchain can solve this crisis. A new report suggests that blockchain can catalyze boosting trust and privacy in AI, thereby challenging tech monopolies.

Web3 and AI Fusion Emerges as Top Choice

Despite the decline in venture capital (VC) funding this year, the fusion of Web3 and Artificial Intelligence (AI) emerged as a top choice for investors in blockchain startups, capturing more than 11% of the total VC funding in the blockchain sector.

According to a report by Stan Miroshnik at TenSquared (10SQ) shared with CryptoPotato, VC investment in Web3 and AI startups surpassed $637 million in 2023.

This essentially indicated startups working at the intersection of blockchain and AI and developing code writing tools, decentralized data storage, compute infrastructure for AI, content authenticity, privacy, and AI-enabled Web3 security solutions are steadily receiving an increasing share of investor support.

The report found that the number of research publications, patents, and GitHub activity related to blockchain and AI has steadily increased over the past five years, indicating a thriving area of research within the blockchain domain. There have been over 5,600 research publications focusing on blockchain and AI during this period, highlighting the rapid growth of this field.

Similarly, developer engagement in this emerging field has been steadily rising, as evidenced by the increasing number of new GitHub repositories and pull requests.