Tensorplex Labs, a startup focusing on Web3 and artificial intelligence (AI), has secured $3 million in seed funding to bolster the infrastructure for decentralized AI networksNetwork The set of computers connected to each other, called nodes, on which the blockchain of a specific cryptocurrency is based.. The funding round, led by Canonical Crypto and Collab+Currency, saw participation from prominent crypto investors including Digital Currency Group (DCG), Quantstamp, and Amber Group. Tensorplex emphasizes that decentralization serves as a countermeasure against the risk of tech giants monopolizing AI, potentially leading to biases or censorship. The company intends to utilize the raised funds to develop innovative capital and intelligence infrastructure and applications, aiming to accelerate the growth of open, decentralized AI networks like Bittensor. Bittensor’s native token, TAO, currently trades around $623 with a market cap exceeding $4 billion, according to CoinMarketCap data. (Source: CoinDesk)
The news about Tensorplex Labs raising funds to expand decentralized AI infrastructure highlights an important trend in the field of artificial intelligence. Decentralization offers a promising solution to mitigate the risks associated with AI monopolies or oligopolies, such as biases, censorship, and control by a few dominant entities. By distributing AI capabilities across a decentralized networkNetwork The set of computers connected to each other, called nodes, on which the blockchain of a specific cryptocurrency is based., power and control are democratized, fostering transparency, fairness, and innovation. This approach not only promotes diversity and inclusivity in AI development but also enhances resilience and accountability. As AI continues to play an increasingly significant role in various aspects of our lives, the move towards decentralized AI networks represents a crucial step forward in ensuring that AI benefits society as a whole, rather than being concentrated in the hands of a select few.