"Will ICP prices skyrocket due to this positive development?"
Dominic Williams, Chief Executive Officer (CEO) of Internet Computer (ICP) and Chief Scientist Domic showcased a demonstration of parent firm DFinity which is an artificial intelligence (AI) innovation where it introduced the first blockchain-based AI smart contract.
Please be informed that ICP AI is part of the protocol mission to develop a system that uses Large Language Models (LLM) as a smart contract on ICP.
It is true that ICP AI runs on the ICP DFINITY testnet, but developers will be allowed to transfer code to the public network while the future Network Nervous System (NNS) is expected to increase the direction limit of each transaction.
Despite the demo exhibition, more work depends on waiting for the AI model of the ICP smart contract and the optimization for the inference engine used for the AI smart contract has not yet been completed.
Once all the changes are implemented, the next demo is bound to promote the updated ICP AI details including higher efficiency, faster speed and lower gas or cycles.
Going forward, ICP plans to require smart contracts to have access to Single Instruction, Multiple Data (SIMB) instructions, which the team strongly believes will increase the speed and efficiency of the system.
ICP AI showcases the widespread use of AI across several sectors and its successful integration with blockchain, where it can be applied to sports, health, security, education and many industries.
As of this writing, ICP price is up 4.14% at $12.59 in the last 24 hours with a market capitalization of over $5 billion but is still down 4.59% over the last week.
