Google Cloud head of Web3 James Tromans has expressed his optimism about the role of artificial intelligence (AI) in developing smart contracts and conducting audits. The executive mentioned that the ongoing AI craze has inspired investors to transition from crypto space to generative AI projects such as Google Bard and ChatGPT.
The market critic hopes that AI generative projects will become the next big thing after the internet. The executive admitted that Google will remain keen to change in the tech space and aims at curbing the gaps between AI and Web3.
Transition for Generative AI Programs
Tromans stated that Google seeks to attain the future of Web3 by improving digital ownership and control. The executive explained that the ongoing Web3 projects aim to strengthen data ownership and privacy with the current technological changes.
He added that improving the accessibility of data was a critical element in Web3. The engineer lauded that technology enhances the provenance and immutability of data. With the advancement in technology, the official suggested that developers are investing in deploying additional software to improve the security and traceability of data.
In his report, Tromans praised the role of technology in businesses that have supported the development of innovative solutions to address business processes. Despite bringing positive outcomes in businesses, Tromans decried that technology has not been used to speculate the value of tokens.
Role of Google in Web3
Speaking exclusively at the Google Cloud Next conference in San Francisco, he admitted that the tech firm has adopted vertical and horizontal strategies to meet the ever-changing customer demand. Reflecting on the proposed horizontal strategy, Tromans stated that the approach aims to meet the customers’ needs, including the Web3 enthusiast and tech-savvy population.
In contrast, the vertical approach focused more on the end products produced by Google. Adopting the above strategies forced Google to onboard new talents in the Web3 field.
The executive confirmed that Google has invested in reshaping the Web3 ecosystem. He mentioned that one of the successful projects Google embarked on was becoming a transaction validator for multiple blockchain networks.
Last September, Google Cloud agreed to become a transaction validator for the Ronin network owned by Axie Infinity. Tromans acknowledged the efforts made by the Web3 team, which was launched in 2022, aiming at exploring viable opportunities in the sector. The Web3 team behind Google’s achievement has also positioned that tech firm as the best developer choice.
Besides the benefits of Web3, Tromans confirmed that blockchain technology has enormous potential to address most economic challenges. After revisiting the performance of blockchain, the executive noted this technology fails to support some of the Web3 software.
Tromans described Web3 applications unsupported by blockchain as “not a good fit.” Corresponding to the shortcomings of blockchain, the executive explained that AI technology will have similar challenges. He stated that AI would fail to offer investors and businesses the best solution for separating Web3 projects from diverse marketing fields.
AI Will not be a Silver Bullet
In his admission, Tromans remained pessimistic about AI development. The executive referred to the marketing approach adopted by the AI startups to make money through promises.
Tromans mentioned that the marketing approach adopted by AI companies corresponds to crypto firms. Tromans anticipates that AI will improve productivity in business and project the appropriate time to market.
The engineer admitted that AI productive tools that can write and audit smart contracts will enhance company performance. The executive suggested that AI might fail to predict the proper time to market their products. Tromans illustrated the need for startups to prioritize acquiring the productive tools to optimize operations.
Even though Google has installed underground fiber optic to support the decentralization of networks, the executive admitted that installation has offered crypto firms a platform to launch their Web3 projects. Tromans added that improving the accessibility to the Google fiber network seeks to support decentralization.
The official urged the developers to consider Web3 projects as “ubiquitously and equitably “when it comes to adoption. He argued that Web3 technologies were not just the tip of the spear.
Tromans encouraged the developers to invest in developing the Web3 space to benefit a large group. Also he reiterated that to attain the desired Web3 development, everybody should contribute.