NEAR Protocol Leads AI Innovation with User-Owned Ecosystem

• NEAR Protocol’s AI initiatives aim to create an open, user-owned AI ecosystem with innovative infrastructure and applications.
• NEAR Horizon AI Incubation Program supports six pioneering teams developing cutting-edge AI solutions and infrastructure.

With its forthcoming development phase, the NEAR Protocol is poised to transform the scene on artificial intelligence. This next phase seeks to empower consumers and encourage creativity outside the grasp of centralized technology companies.

Leveraging past work on chain-abstraction and its Blockchain Operating System (BOS), NEAR sees itself as the leading ecosystem for open and permissionless artificial intelligence.

Exciting News from Near: The Hub for User-Owned AI @NEARProtocol is gearing up to revolutionize AI with its upcoming phase of development, aiming to empower users and innovate beyond centralized tech giants. Here’s how Near plans to lead the charge:

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— Global Coin Research (GCR) (@Globalcoinrsrch) July 3, 2024

Creating an Open AI Ecosystem

The goal of NEAR is to create an open and permissionless AI environment. NEAR is positioned as a major participant in the larger blockchain scene with the strong basis of its BOS and chain-abstraction technology.

This ecosystem will guarantee that artificial intelligence applications are composable on several blockchain systems, therefore encouraging accessibility and cooperation among consumers and developers alike.

The NEAR Foundation is funding basic infrastructure now to let an artificial intelligence ecosystem flourish. This covers programs including computation access, data collection, and creative monetization strategies development. These initiatives are meant to provide a strong basis for the developing AI ecosystem on NEAR.

Looking ahead, NEAR has equally big long-term objectives. Under co-founders Alex Skidanov and Illia Polosukhin, NEAR.AI R&D Lab seeks to trail user-owned artificial intelligence infrastructure. Furthermore, the lab will emphasize creating creative consumer applications using this new architecture.

NEAR Horizon AI Incubation Program

The NEAR Horizon AI Incubation Program is one of the main projects under NEAR’s AI agenda. Six innovative teams— Mizu, Pond, Nevermined, Hyperbolic, Exabits, and Ringfence—have started this program already.

These teams are leading in creating innovative AI solutions and infrastructure, therefore confirming NEAR’s dedication to creating a thriving AI ecosystem.

Meanwhile, data from CoinMarketCap shows that NEAR’s price right now is at $4.49, a noteworthy rise of 8.55% in the past 24 hours. Growing investor trust in NEAR’s creative approach to blockchain technology and artificial intelligence drives this increasing trend.

CNF previously reported the opening of the AI Incubation Program by NEAR Foundation, which seeks to create infrastructure and user-owned artificial intelligence solutions. This effort fits NEAR’s larger goal of building a distributed, user-centric AI ecosystem.