Emerging technologies such as AI, Web3, and blockchain are generating increased opportunities businesses can benefit from, Web3 & Blockchain Advisor Mark Grech explained on Wednesday.
The aforementioned technologies have gained a significant amount of attention in recent years, particularly because of their potential to revolutionise various industries and redefine people’s interaction with technology altogether.
Blockchain is a distributed ledger technology that allows for secure and transparent transactions to take place without the need for intermediaries, while Web3 is the next generation of the Internet, where users have greater control over their data and online interactions. On the other hand, AI is a field of computer science that focuses on the creation of intelligent machines that can perform tasks typically done by humans.
Mr Grech, who is an emerging technologies specialist, having spoken and moderated panels across iGaming and Web3 events globally, noted that in recent months, AI has “taken over the rankings” when it comes to emerging technologies. This is particularly as a result of some “uncertainties across the Web3 and blockchain space”, with some fearing the decentralised nature of the two technologies and how they are regulated.
However, he said that “it’s still inevitable that Web3 and blockchain tech will continue to grow”.
“On the other hand, AI in some way is currently easier to adopt within a business, but still to a certain point, emerging,” Mr Grech remarked.
He explained that there are “a lot of opportunities” to work across all of these technologies, and it is “worth a shot to explore and experiment”, as at some point in time, “things will accelerate, and regulations will be applied”, thus allowing people to feel “more comfortable learning about” them.
“A good example is the internet and mobile phone, and how the industries grew, after various negative news, including the dot-com bubble we had experienced,” he concluded.
The dot-com bubble was a stock market bubble that took place in the latter stages of the 1990s, coinciding with the rise in the use of the Internet, proliferation of available venture capital, and also rapid growth in valuations in new dot-com startups, businesses that do most of their business online.
Mr Grech is a Web3 & Blockchain Advisor at SCCG Management, where he advises businesses on the technologies across product and marketing management. He is also Product & Marketing Manager at ProdMark 365 on a self-employed basis.
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