Key Takeaways From AI Waves #5

Really enjoyed taking part in the dynamic conversation this afternoon on the Miquido webinar, sharing the panel with Sophia Shluger and Dr Jane Thomason.

Hugely privileged to be walking away with so much more learning, having exchanged with these extremely knowledgeable early #web3 #crypto #nft adopters.

A lot of lightbulbs moments, here are some of my key takeaways:

📌Ownership, decentralisation, people empowerment, connected economy and intelligent applications of the new tech (e.g. #ai, #ml ) is at the core of what the Web3.0 opportunity redefines.

📌It is a new iteration of the internet converging from the Internet of Information (Web 1.0 – static) to an Internet of Value, revolutionising how data are created and how value is exchanged, with people owning all aspect of this.💡

📌An inevitable gateway to the #metaverse 🤷‍♀️

📌There’s a growing importance of the community-owned economy in Web3.0 applications – with gaming being a prime example. The stake of ownership is moving from company first to community forming around ideas or interests through engagement and collaboration and taking active stake in the development of Web3.0 applications.💡

📌Similarly the monetisation of data is shifting from the control of big corporates to empowering people (i.e. you and me) and creating tangible opportunity for us to choose how to monetise our content/data (i.e. Internet of Value).

📌Web3.0 applications are emerging outside of gaming across real estate, entertainment, commerce, healthcare and governments, with the UK and UAE governments for example putting significant stakes into Web3.0 projects.

📌The industry general consensus is that everything that we do in the ‘normal’ world, can be replicated in web3/meta economy.

📌Exploring new diverse and relevant use case requires significant core infrastructure change and a different digital transformation strategy for companies to adjust to the new capabilities, new rails, new skillset required, new operational framework etc.

📌Web3.0 growth adoption in emerging economies is catching on at a much quicker pace than the West thanks to contextual use cases that are solving real pressing issues (health, money remittance, liquidity, unbanked population).💡

📌Digital Tokens are not all cryptocurrencies. And cryptocurrency doesn’t necessarily mean digital money!💡

📌The regulators involvement is inevitable… finding the right balance is the debate.

📌Democratising the access will increase mass adoption – participation and diversity are lacking.