Janet Adams, COO of SingularityNET, believes blockchain is key to democratizing powerful technologies like artificial intelligence (AI). A view that is contrary to the prevailing view that AI and blockchain are incompatible.

Janet Adams, chief operating officer of SingularityNET, the company behind the most popular AI utility token, AGIX, believes blockchain is key to democratizing AI. Speaking exclusively to BeInCrypto, Adams went against the grain of much of the industry, which largely believes that the two technologies cannot be integrated.

The role of SingularityNET

SingularityNET is a decentralized platform that aims to facilitate the creation, interaction and coordination of AI.

“Blockchain is the backbone of decentralization,” Adams said. She went on to offer a general assessment of the complementarity of blockchain and AI.

“For Artificial General Intelligence (AGI), and for democratic access to powerful technologies, there is no better technology than blockchain to implement democratic and decentralized governance and access.”

Blockchain democratizes AI

“Blockchain enables decentralized governance, decentralized everything, and all of our AIs are run on our decentralized marketplace,” she continued.

Founded by Dr. Ben Goertzel SingularityNET in 2017. He is one of the world’s leading experts on Artificial General Intelligence. A term used to describe highly autonomous systems with human-level cognitive capabilities.

AGI includes abilities such as understanding, learning, reasoning, problem solving and creative thinking. SingularityNET estimates that human-level AGI is only three to seven years away.

Would democratic AI be impossible without blockchain? “No,” Adams insisted. “However, it would certainly take a huge amount of engineering, work, time and additional costs. Blockchain is the perfect technology. «

AI proponents are understandably concerned about the risk of replicating Big Tech’s centralization and inequality. Of the five biggest companies on the planet, four are tech giants: Apple, Microsoft, Alphabet and Amazon.

“We are very committed to using the blockchain, with our decentralized methods, to ensure that our AI is controlled by the widest group of people on the planet.”

Are AI and Blockchain Compatible?

AGIX SingularityNET is the second largest AI token by market capitalization, according to Cryptoslate.

However, not everyone is convinced of the plausibility of connecting AI and blockchain. Many industry figures have expressed doubts about their compatibility. Andre Cronje, founder of smart contract platform Fantom, has said that the two do not mix, comparing them to oil and water.

“Blockchain and AI are not complementary, and (so far) anyone jumping on the ‘AI’ bandwagon is doing so for pump and dump reasons. If you see a project suddenly pivot on AI, it means that there was nothing and they are dead in the water.… Blockchains do not improve AI, and AI does not improve blockchain.”

In a discussion with BeInCrypto, Lex Sokolin, Chief Cryptoeconomist at Consenys, described AI and blockchain as “orthogonal vectors.” according to him, they are independent, distinctive, and «express very different things.»

During the peak of the AI ​​token boom, BeInCrypto heard from multiple industry figures about the incompatibility of the two technologies.

The AI ​​signal boom has seen a significant rebound since the highs of February and March. The rush was so intense that traders could have lost thousands of their original investment in recent weeks.

Significant gains were also seen on SingularityNET’s main token, AGIX. If not quite in the same ballpark as ANW and GNY. Its sharpest pump was a 205% increase in just five days in early February.