Non-profit organization Dfinity Foundation has announced a new grant program aimed at advancing the development of artificial intelligence (AI) applications in the blockchain and smart contract space. With a fund of $5 million, the program seeks to fuel the growth of decentralized AI, also known as DeAI.
Grants will be awarded in various increments of Internet Computer Protocol (ICP) tokens, starting from $5,000 and going up to $100,000. The higher grant amounts will be reserved for larger teams or developers who have already completed work under a smaller grant.
Dfinity Foundation founder and chief scientist Dominic Williams emphasized the organization’s interest in applicants who can harness the AI compute units of the Internet Computer. By leveraging the Internet Computer blockchain, developers can create fully decentralized AI models that operate solely on the blockchain, eliminating the need for centralized cloud providers like Amazon Web Services.
Williams cited projects already utilizing AI on the Internet Computer blockchain, such as Dmail, a decentralized email service, and Itoka, a platform for AI-generated music. These initiatives demonstrate the potential of merging AI with blockchain technology in a meaningful way, moving beyond what Williams refers to as blockchain theater.
The Dfinity Foundation underscores the benefits of using the Internet Computer for training AI models. It operates on a transparent public network, allowing for secure and verifiable AI execution and reliable results. This makes it particularly relevant for applications like medical AI, where trust and tamper-proof results are crucial.
The grant program follows the success of the BUIDL Bitcoin hackathon organized by the Dfinity Foundation in May. Over 200 developers collaborated on decentralized applications designed to support Bitcoin transactions on the Internet Computer blockchain.
By fostering the growth of decentralized AI through these grants, the Dfinity Foundation aims to push the boundaries of what is possible at the intersection of AI and blockchain technology. The goal is to create innovative AI solutions that leverage the benefits of a decentralized and secure blockchain network.
As the interest in merging AI with blockchain continues to grow, the Dfinity Foundation’s grant program serves as a beacon of support for developers aiming to make significant advancements in this field. The combination of decentralized AI and blockchain technology has the potential to revolutionize various industries, from healthcare to finance, and beyond.
