Gnosis AI: Where AI and Web3 intersect
The AI Agents Berlin series on November 28 hosted an event with Gnosis AI - one of the most interesting projects when it comes to Web3 and AI. In this meeting, participants were introduced to ways in which AI agents by Gnosis can bring new opportunities at the time of the bull market. The link to the presentation is at the bottom of this article for those looking to jump right into it.
Understanding Gnosis AI
Gnosis AI works under Gnosis Labs, which is the experimental hub of Gnosis focused on the exploration of new ideas and technologies. The main focus of Gnosis AI is to develop initiatives that will bridge artificial intelligence and decentralized technologies. Among the key concepts discussed was the idea of "agent-to-agent" payments and the role of prediction markets.
What are prediction markets?
Prediction markets are the places where people buy and sell shares in the outcome of future events. Gnosis focuses on binary prediction markets, in which participants bet on two possible outcomes. Here's a simplified view of how they work:
1. Share Distribution: Original shares are divided among set options.
2. Price Reflection: The price of a share reflects the probability of that option actually happening.
3. Redemption: One option's shares are in for a redemption value of $1, while all the other options' shares become worthless.
The motive for participating in prediction markets includes the monetary reward for supplying information. Participants, therefore, at all times have reasons to update their probability estimates with the presentation of new information because one risks facing normal financial losses, usually termed "wrong bets."
Gnosis AI’s vision for the future
Gnosis AI wants to position Gnosis as a central hub in the Web3 ecosystem, where AI agents can better coordinate, cooperate, and innovate. This is the vision for better capabilities of such agents to effectively interact with blockchain technology.
One example mentioned is a trader agent that can autonomously place bets in prediction markets. This agent can evaluate market conditions and decide its next steps, demonstrating the potential for AI-driven decision-making in financial contexts.
The role of decentralization and fairness
Discussion centered on the development of AI through decentralization. Decentralized AI would, in effect, perform better and with more ethics, considering the distribution of a workload of computation and decision-making processes over a network. This, in turn, may lead to developing more robust and fair AI systems.
A good question is whether or not decentralized infrastructure can be used as an effective way to counterbalance the centralization in AI. If we delve deeper into this topic, we could look effectively at three key areas where blockchain could influence AI: the first being the ability to decentralize the compute power that's required for AI operations, that further democratizes its development as well. Second, increased data privacy and user control over their data is another high area of interest. Finally, the development of new business models using AI in Web3. However, there is skepticism regarding the feasibility of these decentralized solutions. The current technological and economic landscape appears to favor centralized control, particularly as major tech companies rapidly allocate resources and build infrastructure. Furthermore, it may well be that the current consumer attitudes towards privacy and convenience will act as barriers to the adoption of decentralized alternatives. That is why bringing privacy and data protection-compliant Dapp solutions will be key in 2025 and beyond.
The current landscape of AI in Crypto market as per Galaxy Research
The future of Gnosis AI
The future plans for Gnosis AI include enhancing the autonomy of their trading agents to reason about profitability and adjust strategies according to market conditions. They also want to improve the precision of these agents toward the ultimate dream of "truth-telling" agents that make informed decisions.
Most importantly, Gnosis AI has vowed to make regular releases about its progress and findings on the blog and social media sites to maintain transparency and build a sense of community.
More AI Agents events to rock Berlin in 2025
The recent event that had Gnosis AI on board introduced an entirely new set of possibilities combining artificial intelligence with blockchain technology. By focusing on applications such as prediction markets like binary markets, betting and autonomous agents, Gnosis AI is paving the way for solutions that could create new financial opportunities in the Web3 space. As this field evolves, let’s see what the markets make out of it as we enter the bull run.
To keep an eye on the upcoming events and sign up for attendance, keep an eye on the following link. https://lu.ma/user/AIB.
Source: Bringing AI on-chain - AI Agents Berlin 28.11.2024 [PUBLIC]
