Microsoft and blockchain developer Aptos Labs have joined forces to leverage their expertise to bridge the gap between artificial intelligence (AI) and blockchain technology. Discussions about the combination of Web3 and artificial intelligence seem to be spreading across the global tech industry. Web3 companies are just being born and are looking to rely on relatively more advanced artificial intelligence technologies. Its goal is to customize blockchain solutions related to banking, agriculture, health and education. The two companies will also jointly explore innovative solutions.
Under the partnership, Aptos will leverage Microsoft’s artificial intelligence infrastructure to curate industry solutions that combine the strengths of artificial intelligence and blockchain. For the software giant, the partnership could be the first step in a deeper dive into Web3.
Rashmi Misra, general manager of artificial intelligence and emerging technologies at Microsoft, said: “By combining Aptos Labs’ technology with Microsoft Azure’s open artificial intelligence service capabilities, our goal is to democratize the use of blockchain and enable innovators to take advantage of artificial intelligence. Develop new decentralized applications.” official statement.
Microsoft is interested in exploring blockchain offshoots such as asset tokenization and central bank digital currencies (CBDCs) through the Aptos ecosystem.
The interest of Web3 developers and venture capitalists in the field of artificial intelligence is supported by the interest of the millennial and generation Z population in the fusion of blockchain and artificial intelligence.
In May, KuCoin surveyed 1,125 cryptocurrency users from around the world to find out how the Web3 community views artificial intelligence. Over 64% of younger respondents confirmed that they are somewhat familiar with the use of AI in cryptocurrencies and blockchain.
This supports Microsoft’s interest in trying Web3 again.
Previously, it formed a team to tackle its metaverse plans. However, in February of this year, Microsoft wound up its Industrial Virtual Universe division to overcome the recession-like conditions that were prevalent at the time. A hundred staff members of the team were reportedly fired.
As for Aptos Labs, a group of former Meta employees jointly launched the Aptos Proof-of-Stake (PoS) blockchain in October 2022. Aptos Labs had raised $150 million (roughly Rs 1,200 crore) earlier in July. Series A funding round led by FTX Ventures and Jump Crypto.
The Aptos blockchain is powered by Move, an open-source programming language developed by Meta, which was originally designed to support the abandoned stablecoin project Diem.