As a seasoned crypto investor with over a decade of experience navigating the volatile digital asset market, I can confidently say that the rise of AI and decentralized technologies has piqued my interest like never before. The recent $11.8 billion in venture capital funding raised by AI-related startups in Q3 2024 is a testament to the sector’s explosive growth, and I believe this trend will only continue.
In Q3 of 2024, the field of artificial intelligence experienced remarkable growth and continues to accelerate at an impressive pace. AI-focused startups garnered a staggering $11.8 billion in investments, making up approximately one third of all venture capital funding during that period.
Many businesses and initiatives frequently rely on centralized platforms like Amazon Web Services (AWS) for their cloud computing needs. While these services are powerful, they can also be expensive and susceptible to interruptions or downtime.
In the perspective of Theta Labs’ Head of Strategy, Wes Levitt, it is believed that decentralization and blockchain technology can address these concerns. According to his statements in a conversation with The Agenda podcast, decentralized cloud computing not only saves customers money but also provides enhanced reliability and flexibility.
In the 51st installment of “The Agenda,” Steven Levitt conversed with hosts Jonathan DeYoung and Ray Salmond. During this discussion, he elucidated on the advantages of decentralization in democratizing access to computational resources, highlighted academia as Theta Labs’ primary clientele, and delved into additional topics.
Decentralized cloud services expand access to AI
Theta Labs is the organization responsible for Theta Network, a self-proclaimed decentralized platform designed for artificial intelligence, media, and entertainment applications. As stated by Levvit, Theta aims to disperse cloud services to avoid relying on just a few potential points of failure and to prevent near-monopolies among major cloud providers, particularly in terms of pricing and other conditions they offer.
Levvit mentioned that Theta initially concentrated mainly on media and entertainment, but since the surge of the AI revolution, it has experienced a significant increase in AI-related clients. Interestingly, academia is one area that has found decentralized cloud computing to be particularly beneficial. In fact, he stated, “The most substantial progress we’ve made over the past six to 12 months has been with academic institutions.
He shared that they quickly established connections with KAIST, a university in South Korea. Subsequently, they managed to extend their reach to four out of the five most prominent Korean universities. Additionally, he mentioned that Theta had recently partnered with the University of Oregon and was currently in discussions with several universities in the United States.
Universities appreciate the service’s utility as it grants AI computing access to organizations with financial limitations, like smaller universities or research groups, that might not be able to afford Amazon Web Services (AWS). Yet, there are distinct academic peculiarities that make this a fascinating application. For instance, universities often need to swiftly amplify their research activities prior to academic conferences and then just as quickly diminish them afterwards.
“It’s not a model that really fits for them to say, we’re going to sign a three-year contract with heavy commitments on it. They want to have flexibility and be able to use a lot when they want, and not pay for times when they’re not.”
Theta Labs vs. Amazon Web Services
Over the past year, I’ve noticed a remarkable surge in the decentralized AI sector within the blockchain industry. As per the data from CoinMarketCap, the market capitalization of AI and big data cryptocurrency projects has witnessed an impressive expansion. In December 2023, it was valued at $16.17 billion, but by December 6, 2024, it peaked above $70 billion.
Could AWS one day be surpassed by a service like Theta Network as it has grown significantly? While Theta Network may aspire to compete, it seems the primary goal isn’t to replace existing systems, but rather to coexist with them, as suggested by Levitt, implying that centralization will still play a significant role.
He mentioned that their laptops don’t carry labels advocating for the decentralization of everything, but he emphasized that there will always be instances where centralization is necessary. As an illustration, he cited a learning model that functions more effectively when it has a concentration of nodes in a particular region rather than being spread globally.
Yet, Levitt envisions a time when decentralized AI might match or even surpass the capabilities of centralized AI, but possibly with distinct applications.
“AWS is not going to be killed off, or the centralized cloud players aren’t going to cease to exist. There’s going to be centralized use cases. Depending on how things evolve and how a taste for decentralized AI develops, it could be just as large.”
To delve deeper into Levitt’s discussion with The Agenda about topics such as Theta Network’s approach to multimedia streaming, the potential of politicians in regulating AI, and additional intriguing points, head over to CryptoMoon’s Podcasts page, Apple Podcasts, or Spotify to listen to the entire episode. Don’t forget to explore CryptoMoon’s other engaging shows as well!
This piece is primarily meant to provide a broad understanding and shouldn’t be construed as legal or financial guidance. Any personal perspectives, ideas, or opinions shared within this article don’t automatically align with those held by CryptoMoon.
Read More
- HBAR PREDICTION. HBAR cryptocurrency
- IMX PREDICTION. IMX cryptocurrency
- ZIG PREDICTION. ZIG cryptocurrency
- 15 Games Everyone Wants Sequels For
- LDO PREDICTION. LDO cryptocurrency
- EUR AED PREDICTION
- STEEM PREDICTION. STEEM cryptocurrency
- POL PREDICTION. POL cryptocurrency
- BDX PREDICTION. BDX cryptocurrency
- XDC PREDICTION. XDC cryptocurrency
2024-12-11 17:51