Blockchain AI Market Size to Top $3.5B in 2032: Report
The post Blockchain AI Market Size to Top $3.5B in 2032: Report appeared on BitcoinEthereumNews.com.
Based on an analysis by Emergen Research, the Blockchain AI market is estimated to skyrocket to around $3.5 billion by 2032. Blockchain AI is Now the New Trend According to Emergen Research, the services sector of the industry takes the larger share of the valuation in 2019 and is projected to continually gain traction. Per the projection, Blockchain AI’s integration within the financial services sector, asset tracking, and tokenization are also crucial to achieving this $3.5 billion valuation by 2030. In recent times, the intersection between blockchain and Artificial Intelligence has been significantly explored by top crypto analysts. Both technologies are considered a powerful pair whose implementation improves the processes and operations of every industry. Amongst other utilizations, AI can use blockchain to distribute data applicable in several models. A core example is the use of machine learning models in online retail for the recommendations of products. This is in line with Amazon’s plan to launch Olympus, a Large Language Model (LLM), through its web services branch, Amazon Web Services (AWS). The tech giant plans to boost its online retail platform via Olympus. While at it, Amazon also intends to advance the features within the Alexa voice assistant. The adjustment is focused on devices like the Amazon Echo, all in a bid to jack up Amazon Web Services division. Reports have described Olympus as an LLM with almost 2 trillion parameters. Markedly, this makes it one of the largest LLMs that has been developed. In the long run, the tech giant believes that the LLM will compete with OpenAI’s ChatGPT and Microsoft’s Bing. Noteworthy, data monetization is one of the key drivers of the blockchain AI market. It is believed that both AI and advanced blockchain can be accessed through data monetization, complementing the predicted valuation. Can the $3.5B Valuation be Attained?…
Filed under: News - @ November 9, 2023 8:54 am