According to a PwC report, the machine economy could contribute up to $15 trillion to the global economy by 2030, as AI and Blockchain-focused altcoins become prevalent.
PwC report says ‘these altcoins are preparing the revolution’
According to PwC, machines capable of performing tasks normally reserved for humans will increase global GDP by up to 14 percent by 2030. In a recent report, the global consulting firm argued that widespread adoption of artificial intelligence (AI) could contribute $15.7 trillion to the world economy over the next decade, equivalent to the current combined output of China and India.
Research conducted by IoTeX and Siemens cited by PwC explores why distributed ledger technology (DLT) such as the internet of things (IoT) and Blockchain will drive the growth of the machine economy and unlock new opportunities for IoT manufacturers and end users.
The report also explains some of the future business models and highlights implementation examples. He cites a Next Big Thing AG study that defines the machine economy as a network of intelligent, connected, and economically independent devices and machines that act as autonomous market participants, conducting economic transactions and other activities with little or no human intervention.
These projects are the first candidates
These cryptos, which are classified as IOT tokens and AI & Big Data DeFi Tokens in the cryptocurrency market, have attracted great attention, especially after the public introduction of ChatGPT. As Kriptokoin.com, we have included Bill Gates’ recent investment statement in this article. The biggest altcoin projects currently in the AI Token area are:
- The Graph (GRT)
- Fetch.ai (FET)
- Ocean Protocol (ECOAN)
- SingularityNET (AGIX)
- iExec (RLC)
- Artificial Liquid Intelligence (ALI)
- Numeraire (NMR)
- dCargo (DKA)
- Phala Network (PHA)
- Covalent (CQT)
- Cortex (CTXC)
- Phoenix (PHB)
- Plato (LAT)
- XMON (XMON)
- VIDT DAO (VIDT)
- AllianceBlock (ALBT)
- Sentinel Protocol (UPP)
- Vectorspace AI (VXV)
- Streamer (DATA)
- VAIOT (VAI)
On the other hand, the term IoT or Internet of Things refers to technology that facilitates communication between devices as well. IOTA and VeChain are among the biggest projects engaged in this technology:
- VeChain (VET)
- IOTA (MIOTA)
- Helium (HNT)
- IoTeX (IOTX)
- DigiByte (DGB)
- XYO Network (XYO)
- MXC (MXC)
- JasmyCoin (JASMY)
- Streamer (XDATA)
- AirDAO (AMB)
- Skey Network (SKEY)
- GEEQ (GEEQ)
- Mobius (MOBI)
- Sentivate (SNTVT)
- Internxt (INXT)
AI will add $15.7 trillion to the global economy, according to PwC
According to the firm’s calculations, the bulk of these gains, $9.1 trillion, will come from consumption side effects. Autonomous commuters are expected to use their extra time and resources to purchase personalized and higher-quality products. The United States is expected to be a major beneficiary of this trend. PwC believes consumption patterns triggered by artificial intelligence will add $3.7 trillion to the North American economy.
These altcoins are also on the list
The metaverse, another industry featured in the report, was a hot topic for attendees to discuss at the Davos World Economic Forum (WEF) 2023. IoTeX’s Dr. “The industrial metaverse is an emerging trend that aims to combine immersion, real-time data and digital twins to create new business models and accelerate digitization,” wrote Steven Baudry and Sourabh Narayan Sing, co-authors of Xinxin Fan and Siemens.
The Metaverse has shown remarkable growth in 2022 despite the global economic slowdown, and experts believe it will continue to grow significantly. Deloitte believes the global Metaverse market size could grow to between $1.5 trillion and $13 trillion. WEF estimates that the metaverse market will grow to $800 billion in 2024.
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