The Dfinity Foundation, a non-profit organization, has initiated a new $5 million grant program today aimed at advancing artificial intelligence (AI) applications in the field of blockchain technology and smart contracts. The program aims to support the development of decentralized AI (DeAI) by providing funding of up to $100,000 to projects utilizing Internet Computer Protocol (ICP) tokens.

The grants will be awarded in increments of $5,000, $25,000, $50,000, and $100,000, with the $100,000 level reserved for larger teams or developers who have completed work below a smaller grant threshold. Dominic Williams, the founder and chief scientist of the Dfinity Foundation, expressed enthusiasm for applicants who can leverage the computing units of the Internet Computer, stating, "We are actively seeking serious individuals who can benefit from the artificial intelligence capabilities of the Internet Computer. #dfinityfoundation

Development of AI on the Internet Computer:

The Internet Computer blockchain will function as a decentralized cloud, enabling AI models to operate entirely on the blockchain without the need for centralized cloud providers such as Amazon Web Services. Projects mentioned by Williams include Dmail, a decentralized email application, and Itoka, a platform for music generated by AI.

Previous Initiatives and Objectives:

In May, the Dfinity Foundation organized the BUIDL Bitcoin hackathon, which saw collaboration from over 200 developers, to support Bitcoin transactions on the Internet Computer blockchain. While the integration of AI into Web3 projects has gained popularity, Williams emphasizes their goal to go beyond "blockchain theater" and meaningfully merge AI with blockchain technology.

Advantages of Using the Internet Computer for AI Models:

The Dfinity Foundation claims that using the Internet Computer to train AI models offers numerous benefits, including transparent execution on a public network, secure and verifiable AI execution, and reliable outcomes. Williams highlights the importance of unedited models and responses when creating a large language model specialized in providing medical advice. #blockchains #dfinity

In Summary:

With the launch of its $5 million grant program, the Dfinity Foundation aims to foster advancements in AI applications within the blockchain and smart contracts domain. By utilizing Internet Computer Protocol (ICP) tokens, the foundation seeks to support the development of decentralized AI and encourage meaningful integration of AI with blockchain technology. #ICP $ICP #internetcomputer