The World Economic Forum has cautioned governments and enterprises from trend-chasing and prioritising one technology over the other as we enter a new metaverse world. In a new report published in March 2024, the group noted that metaverse technologies are innovating processes for consumers, the workforce and enterprises, helping to accelerate the evolution of the internet in experience and infrastructure.
The world is also entering a point of convergence, with huge opportunities lying at the confluence of these technologies which will help to realise the full potential of the industrial metaverse, the group said.
‘For example, generative AI can accelerate the uptake of spatial learning experiences by making them more intuitive, conversational and context-aware. Similarly, spatial computing can help generative AI assume a digital identity to embody its potential in an immersive, engaging and lifelike manner with humanoids and virtual avatars.
‘Early signs of industrial players combining these technologies are already evident, multiplying their impact and value creation. Companies that prioritise one over the other, such as moving investments away from spatial computing, Web3 and blockchain in favour of generative AI, risk losing out on the powerful value creation that their synergies have to offer in the long term, the WEF said.
Over time, the convergence of these technologies will create a seamless interface between the real and digital worlds, and the impact they could create is much larger than the sum of their parts. Companies stand to witness a multiplier effect if they can harness the combinations well.
BSV blockchain will be the backbone of AI and the Metaverse
The BSV blockchain bolsters the reliability of AI systems by furnishing a verifiable and auditable ledger of data transactions and model outcomes. Given the substantial data requirements of AI algorithms for training, blockchain technology offers a secure and transparent platform for exchanging this data among various entities, spanning individuals, organisations, and even Internet of Things (IoT) devices.
By leveraging blockchain, the lineage of data can be meticulously traced from its origin to its utilisation, thereby ensuring accountability and empowering stakeholders to authenticate the genuineness and integrity of the data employed by AI models.
BSV blockchain’s scalability is a crucial factor when considering its compatibility with AI. AI algorithms often demand significant computational resources and generate vast amounts of data during training and inference processes. BSV’s large block size and high transaction throughput enable it to handle the immense volume of data transactions that AI systems require, ensuring smooth and uninterrupted operation even under heavy workloads.
Moreover, BSV’s stability and immutability make it an ideal platform for ensuring the integrity and security of AI-related data and transactions.
