Web 3, AI Driving Transformations and Innovations Across Industries

Generative AI and Web 3 can collaborate to revolutionise digital content creation and interaction, leading to enhanced user experiences within the decentralised Web 3 ecosystem. This synergy enables the production of diverse and creative content, paving the way for personalised, interactive, and immersive applications that will shape the future of online interactions.

Vatsal Kanakiya, Principal and CTO of 100X.vc, emphasises their long-term investment plans in both Gen AI and Web 3. For Web 3, the firm focus on investing in bitcoin as a store of value asset and applications built on top of Ethereum. On the AI front, it consider three verticals: core model innovation in Gen AI, non-core model innovation in Gen AI, and non-Gen AI models. Kanakiya sees potential in 3D object generation in text, images, and video but remains cautious about audio due to quality concerns.

Web 3 also enables cost-cutting in companies through decentralised technologies, smart contracts, and automation, streamlining processes and reducing intermediaries, leading to significant savings. Indradyumna Datta, Group CDO of Jindal Steel, highlights how AI and Gen AI can help reduce carbon footprint, enhance productivity, and improve output by repurposing and reskilling the workforce.

Rama Iyer, Head of Innovation at GMR Group, anticipates the next breakthrough in Gen AI to involve synthetic video and conversational AI integration, enabled by deep embeddings and vectorised databases that identify valuable data points. "This breakthrough is expected to leverage various models ingrained in vertical industries with local data," he adds.

While these technologies hold great promise, there are concerns surrounding their misuse, such as deep fakes created using AI in the Web 3 space. Raj Mohan Srinivasan, CIO of Enterprise Technology Group, points out that technology advancements often raise anxieties about job displacement, but history has shown that course corrections happen over time.

Web 3 represents a shift from centralised control to individual empowerment, where users can own and control their data, leading to more personalised and secure digital experiences. Lloyd Mathias, Angel Investor, and Business Strategist, highlights this transition from company-controlled information in Web 1 to interactive communities in Web 2 and individual immersion with data ownership in Web 3.

In conclusion, the future of AI and Web 3 holds the promise of decentralised, intelligent applications that empower users with personalised, secure, and immersive digital experiences, according to experts.