AI in Crypto: Genuine Use Cases and Hype-Free Potential
For every genuine blockchain project harnessing artificial intelligence there are 100 coins trading off the hype. We spoke with industry experts to explore some of the key hype-free, genuine use cases for AI in crypto and blockchain.
AIs Can Help Run DAOs
Decentralized autonomous organizations (DAOs) as they exist today are not actually autonomous. They require human intervention. However, AI could be the key to making the DAO concept work. AI can replace the mundane and repetitive parts of the work, allowing DAOs to function more efficiently.
AI can monitor and summarize the activities of a DAO, providing clear and concise information to members. It can also help with onboarding new members, managing logistics, and coordinating tasks. While the broader direction of the DAO can still be set by the community, AI can assist with day-to-day management.
The Near Future of AI-Assisted DAOs
The Near Foundation plans to experiment with AI to coordinate smaller tasks before gradually taking on more complex and important jobs. The ultimate goal is for AI to handle the day-to-day management of DAOs, allowing human participants to focus on generating ideas and setting goals.
The Near community has already started building an AI that can autonomously decide which projects to support with funding. This AI assesses proposals based on predetermined criteria and can automatically fund approved projects from the treasury.
Maker’s AI Atlas
MakerDAO is developing Governance Artificial Intelligence Tools (GAITs) to guide the entire project. They are creating a formalized dataset called “Atlas” that catalogs project information, rules, and governance. This dataset will provide a global overview of the project and will be constantly updated in real-time.
Community members can use GAITs to find and bid on projects, with AI providing instant feedback on proposal alignment with guidelines, aims, and budget. The ability to translate between languages will facilitate better communication with global community members.
Don’t Believe the Hype
Although AI is already a useful tool for DAOs, it is not yet mature enough to fully run them. The current technology still has limitations, including occasional errors and unreliability. Trusting AI with decision-making power without strict guidelines and spending caps could lead to potential risks.
While the future potential of AI-assisted DAO governance is promising, it will take time to reach maturity. Adequate safeguards and guidelines must be in place to ensure the technology’s reliability and effectiveness.
Overall, AI has the potential to enhance the functionality and efficiency of DAOs, but it should be approached with caution and realistic expectations.
By Andrew Fenton