The global Web3 space is on the rise, and so is its usage. Forbes highlights that AI and blockchain are likely to support the growth of his Web3 and ensure its features match user demand, increasing usage.
Web3 growth depends on AI and blockchain
Forbes highlights that the combination of blockchain technology and artificial intelligence (AI) could be the catalyst needed for Web3 adoption. Blockchain’s transparent and impenetrable data processing capabilities and AI’s ability to learn from data and generate predictions can technically work together to improve the Web3 user experience and reduce friction.
For example, thanks to decentralized AI built on blockchain, consumers can take control of their data and privacy for personalized online experiences, such as music suggestions based on past listening habits. no longer have to give up.
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Blockchain and artificial intelligence (AI) are both complementary technologies that each solve the problems the other presents. In the field of artificial intelligence, access to high-quality data is essential to creating accurate and successful algorithms. The “garbage in. Garbage out” dilemma illustrates that artificial intelligence (AI) trained on flawed data will inevitably provide flawed output.
The problem of “garbage in. Garbage out” is alleviated by the consensus process built into blockchains, which allows nodes to agree on the “truth” of the data. This protocol allows you to verify data integrity, validity, and accuracy.
Web3 technology expected to grow
The global Web 3.0 market size is projected to be worth USD 2.18 billion in 2023, growing at a compound annual growth rate (CAGR) of 46% from 2023 to 2032 to approximately USD 65.78 billion. is expected to reach. The rise of the metaverse is driving his Web 3.0 business.
As the idea of data ownership becomes more and more popular, people are using Web 3.0 blockchain to protect their data and end security and privacy concerns from third-party suppliers. Therefore, the CAGR of the market is driven by this aspect.
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