![How to Nail First-Party Data Strategy According to a Google Director of Product Management [+ New Data]](https://www.hubspot.com/hubfs/first-party-data-strategy.webp)
Harnessing AI and web3 for accelerated growth of AI projects
The post Harnessing AI and web3 for accelerated growth of AI projects appeared on BitcoinEthereumNews.com. Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. MagnetAI is set to merge AI and web3 technologies with its new solution, ModelFi, amid growing global interest. Artificial intelligence (AI) and web3 have been turning heads lately, capturing immense interest worldwide. MagnetAI wants to harness the power of these two technologies and fuse them to create a unique solution called ModelFi. Before we examine ModelFi in detail, let’s consider the challenges that prompted MagnetAI to develop this new unique solution. Challenges in the AI industry Almost all AI projects go through a three-phase development stage called the AI economy lifecycle: the foundation phase, expansion phase, and profit phase. Through each stage, the AI industry faces three main challenges, which the team at MagnetAI identified. These challenges are common to everyone launching in the industry, irrespective of the project they are building. The first challenge is the struggle to secure funding. AI projects often come with a heavy price tag, and the majority of AI creators struggle to secure funding, which significantly impedes their progress. Competing head-on with giants like Google, Microsoft, and Meta would require a lot of capital. The other challenge is user participation and ownership. Many users cannot actively participate in AI products or share their ownership. While most projects allow users to improve their user experience, they do not participate in the AI model design, its features, or functionalities. This leads to a disconnect between users and the project. It underscores the absence of a shared economy in the AI sector, where users could both contribute to and benefit from the AI products they use. There is also a lack of a unified platform that connects AI creators with mainstream users, allowing for ownership trading,…
The post Harnessing AI and web3 for accelerated growth of AI projects appeared on BitcoinEthereumNews.com.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. MagnetAI is set to merge AI and web3 technologies with its new solution, ModelFi, amid growing global interest. Artificial intelligence (AI) and web3 have been turning heads lately, capturing immense interest worldwide. MagnetAI wants to harness the power of these two technologies and fuse them to create a unique solution called ModelFi. Before we examine ModelFi in detail, let’s consider the challenges that prompted MagnetAI to develop this new unique solution. Challenges in the AI industry Almost all AI projects go through a three-phase development stage called the AI economy lifecycle: the foundation phase, expansion phase, and profit phase. Through each stage, the AI industry faces three main challenges, which the team at MagnetAI identified. These challenges are common to everyone launching in the industry, irrespective of the project they are building. The first challenge is the struggle to secure funding. AI projects often come with a heavy price tag, and the majority of AI creators struggle to secure funding, which significantly impedes their progress. Competing head-on with giants like Google, Microsoft, and Meta would require a lot of capital. The other challenge is user participation and ownership. Many users cannot actively participate in AI products or share their ownership. While most projects allow users to improve their user experience, they do not participate in the AI model design, its features, or functionalities. This leads to a disconnect between users and the project. It underscores the absence of a shared economy in the AI sector, where users could both contribute to and benefit from the AI products they use. There is also a lack of a unified platform that connects AI creators with mainstream users, allowing for ownership trading,…
What's Your Reaction?
