Filecoin will leverage AI to help users explore its decentralized database.
Filecoin, a decentralized data storage network, is doubling down on its push into artificial intelligence.
On July 10, the Filecoin Foundation announced a partnership with Theoriq, an AI communication platform, to develop AI Agents trained using data hosted on the Filecoin network.
The AI Agents will perform specialized tasks leveraging Filecoin’s dataset, such as answering questions, advanced search queries, and analyzing information with minimal human intervention. As such, the agents will serve to make accessing Filecoin-based data more user-friendly.
“These Agents are not merely enhancing user experiences; they are pivotal in various sectors, automating complex tasks, personalizing interactions, and analyzing data with unprecedented accuracy,” Theoriq said. “This evolution signifies a shift towards more autonomous, efficient, and intelligent systems, catalyzing innovation and transforming numerous industries.”
During the recent Consensus 2024 conference, Porter Stowell, head of community for the Filecoin Foundation, demonstrated a Filecoin AI Agent developed in collaboration with Theoriq. Using natural language queries, the agent can provide information to users on how to build with Filecoin including troubleshooting common issues and providing data storage services to the network.
Filecoin and Theoriq are also working to develop an AI Agent that allows researchers and policymakers to search through more than one million declassified CIA documents hosted on Filecoin that were declassified over 25 years.
Filecoin’s AI pivot
The news comes as Filecoin appears to be establishing itself as a significant player within the web3 AI infrastructure sector.
In a recent blog, Filecoin Foundation criticized the centralized incumbents currently dominating the online data storage sector. It said a handful of large companies are guilty of “siloing information, centralizing control, and leaving it vulnerable to single points of failure.”
“We’re following the same path with AI, where the AI developers are locking down data and code, which impacts the visibility into how AI models work like what data they’re using and how they’re trained,” Filecoin warned.
On Monday, Filecoin announced a collaboration with the AI infrastructure platform, Nuklai, on building a decentralized database to train AI models. This database will use Filecoin’s storage service, called Lighthouse, to organize and standardize information for machine learning and AI-training applications.
“Our objective is to aim to store data efficiently, transparently, and in a decentralized manner using Filecoin’s decentralized data storage network,” Nuklai said. “Everyone can contribute by sharing and contextualizing datasets.”
The price of Filecoin (FIL) is down 8% in the past week, according to The Defiant’s crypto price feeds.
Meanwhile, the market capitalization of AI tokens surged by 4.15% on Tuesday, hitting $24.5 billion. Leading AI tokens in this growth include Near Protocol (NEAR), Internet Computer (ICP), Render (RNDR), and SingularityNet (AGIX).
Goldman Sachs Remains Optimistic About AI
On June 25, Goldman Sachs published a research report expressing bullishness regarding the potential of generative AI.
“Generative AI will ultimately automate 25% of all work tasks and raise US productivity by 9% and GDP growth by 6.1% cumulatively over the next decade.”
The report added that while automating many AI-exposed tasks is not cost-effective today, the long-term potential for cost savings and technological advancements should drive more AI adoption.
Related: Filecoin Launches Ethereum-Compatible Smart Contracts
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