Broadcasting
The AI-Blockchain Nexus: Redefining Tech’s Future
By Emmanuel Ebanehita, the Chief Marketing Officer of Fuse Network
The convergence of Artificial Intelligence (AI) and blockchain has emerged as a transformative catalyst. This fusion promises to disrupt industries and redefine how we transact, interact, and innovate.
This symbiotic relationship between decentralized ledger technology and machine learning is not just a trend; it’s a profound shift that promises to transform industries, reshape economies, and revolutionize our understanding of data-driven opportunities.
AI and blockchain have already caused significant disruptions in the tech landscape. A recent market research analysis by Facts and Factors predicts that the global AI market will grow from $29.86 billion in 2020 to $299.64 billion in 2026, indicating a compound annual growth rate (CAGR) of 35.6 percent.
Likewise, experts forecast that the global blockchain market will experience a CAGR of 67.3 percent, taking it from $3 billion in 2020 to $39.7 billion in 2025. In terms of functionality and impact, AI, with its capacity to process extensive data and make intelligent decisions, has found applications in fields from healthcare to finance. On the other hand, blockchain has showcased its capability to improve transparency, security, and trust across various sectors.
However, their convergence becomes formidable because it creates a harmonious ecosystem where organizations can execute data-driven decisions transparently and immutably.
This synergy extends beyond a single industry; it can simultaneously disrupt and transform multiple sectors. An IBM Consulting report supports this idea, stating that the intersection of AI and Blockchain yields various positive ‘combined values,’ including ‘Augmentation, Automation, and Authenticity.’ Recent reports also project that the global blockchain-AI market will increase from $230 million in 2021 to nearly $1 billion in 2030.
Africa, with its vibrant entrepreneurial spirit and burgeoning tech scene, stands to gain immense benefits from the convergence of AI and blockchain—an alignment with the continent’s aspirations for inclusive economic growth and technological empowerment positions the synergy favorably. Consequently, Africa’s unique challenges and opportunities create fertile ground for innovative solutions powered by AI and blockchain.
In particular, blockchain technology can enhance transparency and trust in supply chain management and financial services. Meanwhile, AI can drive efficiency and data-driven decision-making in healthcare, agriculture, and education. Together, they can create a virtuous cycle of innovation and economic development within the continent.
As the blockchain AI market expands and matures, numerous organizations have made strides to offer innovative services that allow consumers to benefit from the best of both worlds.
Among the vanguards of this technological synergy is Fuse.io. Founded in 2019, Fuse is more than just a platform; it’s a visionary solution that empowers businesses and developers with end-to-end capabilities for Web3 payments. With over 1.8 million users, over 128 million successful transactions, and a presence in 12 countries, Fuse.io exemplifies the potential of AI and blockchain to transcend borders and empower small and medium-sized businesses.
Fuse’s value proposition is profound. It offers businesses an alternative to traditional payment methods, sparing them from the demanding fees associated with credit cards. Through Fuse’s Software Development Kit (SDK), smaller merchants with limited technical abilities can seamlessly integrate payment solutions at lower costs and with heightened reliability. The future is undoubtedly non-custodial, and Fuse is at the forefront of this movement, providing security and control with its non-custodial wallet SDK.
What are Fuse’s unique propositions, and how is the brand leading the way in the convergence of AI and Blockchain?
Speaking at the just concluded Tech Next Conference, themed: Disruptive Tech: New Frontiers, New Opportunities, Emmanuel Ebanehita, the Chief Marketing Officer of Fuse Network, explored numerous measures through which Fuse.io is leading the way in the convergence of AI and Blockchain.
AI-Powered Mobile Payments:
Fuse’s mobile-first approach perfectly aligns with the trajectory of mobile-centric payment solutions. By integrating AI into its mobile payment infrastructure, Fuse enhances the user experience by anticipating spending behaviors, offering financial guidance, and fortifying security measures to detect potential fraud.
This seamless blend of AI and mobile payments amplifies convenience. It fosters a heightened sense of security and trust among users, especially in developing economies like Africa, where security concerns are highly palpable, thereby shaping the future of digital transactions.
Data Transactions for AI:
Fuse’s microtransaction capabilities are a game-changer for AI companies aiming to acquire data directly from individuals. In today’s AI landscape, where human-generated content is the lifeblood of machine learning, microtransactions play a crucial role. They enable fair compensation for content creators, driving the development of generative AI models. Fuse’s cost-effective transaction model provides the perfect solution, making this symbiotic relationship between AI and human creativity economically viable and sustainable.
Decentralized AI Marketplaces:
Fuse extends its influence far beyond the realm of payments. It provides businesses the tools to create personalized decentralized applications (dApps), enabling access to platforms where AI models and services can be decentralized. This democratization of AI capabilities enhances accessibility and fosters an environment for innovation to thrive.
In these ways, Fuse.io is pivotal in transforming AI into a force that empowers individuals and small enterprises, reshaping the landscape of technology-driven entrepreneurship.
Overall, the convergence of AI and blockchain signifies a significant transformation in the technological landscape, and its impact will reverberate worldwide, not just in Africa. As we harness this synergy, we unleash a future brimming with limitless possibilities, and Africa, with its dynamic tech ecosystem, holds a unique position to spearhead this transformative journey.
Fuse’s pioneering role exemplifies how technology can bridge gaps and empower businesses, providing a preview of a future teeming with data-driven opportunities. Together, AI and blockchain have the potential to shape the future of technology, leaving an enduring impact on industries, economies, and societies.
National Agency for Food and Drug Administration and Control (NAFDAC) has refuted claims that it approved a herbal product marketed as “lung-cleansing tea” for smokers.
Mojisola Adeyeye, director-general of NAFDAC, in a statement on Saturday, December 14, clarified that the product, identified as Lungitox (Smokers Pride), was never approved and had its registration application rejected due to its unsubstantiated health claims.
“The attention of the National Agency for Food and Drug Administration and Control (NAFDAC) has been drawn to a misleading video circulating on social media, alleging that NAFDAC approved the registration of a herbal product claiming that ‘smoking is healthy’ when used with their product,” the statement read.
“NAFDAC wishes to categorically state that this claim is false and completely unfounded.
“The product in question—Lung Detox Tea or Lungitox (Smokers Pride) or any similar product—is NOT registered by NAFDAC.
The unscrupulous individual behind this product had applied for registration, but the application was outrightly rejected due to the unsubstantiated and dangerous claim that smoking could be made ‘healthy’ by consuming the product.”
NAFDAC reaffirmed its commitment to protecting public health and ensuring that only safe and scientifically validated products are approved.
“NAFDAC remains steadfast in its mandate to protect public health and ensure that only safe, effective, and scientifically substantiated products are approved.
“We condemn any attempt to mislead or endanger the public with false claims.
“The public is advised to disregard this video and report any suspicious claims or products to the Agency through our official channels.”
Adeyeye provided contact information for reporting such claims, urging Nigerians to remain vigilant.
“For further inquiries or reports, please contact NAFDAC via 0800-162-3322, email [email protected], or visit our website at www.nafdac.gov.ng.
NAFDAC will continue to take decisive action against any individual or entity attempting to violate public health standards.”
The agency reiterated its dedication to ensuring that all products in the Nigerian market meet the required safety and efficacy standards.
A coalition of media organisations, comprising the League of Public Affairs Analysts and South East Media Professionals Network, has called for disciplinary action against Arise TV and Dr. Reuben Abati, show host, over alleged inciting remarks against the Igbos.
This was contained in a formal petition to the National Broadcasting Commission (NBC), signed by Ambrose Igboke.
According to the group, Arise TV and Dr. Reuben Abati allegedly made a divisive comment against the South East and Igbos during a TV Breakfast Show on November 21, 2024.
Recall that during the November 21 Breakfast Show, Abati had said on Arise TV, “It is a shame that the same Igbos who are so industrious that they’re all over and they do well in other parts of Nigeria.
“You go there as a non-Igbo man to go and buy land, you’ll be told that you don’t belong, even as an in-law. These are the issues in my view.”
The journalist and former Presidential aid referred to an incident reportedly involving the former Minister of Information, T.O.S Benson, who sought to purchase land in Igbo land for his wife.
The anti-Igbo comment has resulted in criticism and outburst from different groups.
They argued in the petition that there are “concerns about remarks made by Dr. Abati, which perpetuated harmful stereotypes against the Igbo community.
“These statements have been further amplified by extremist groups like Lagospidia, exacerbating ethnic tensions in an already delicate socio political climate.”
The media professionals said, “Dr. Abati’s reference to the Igbo people in a broad, negative context risks inflaming ethnic tensions and promoting dangerous generalizations. This kind of action was what ignited the Rwandan genocide where the Hutu and Tutsi engaged in a fratricidal war of extermination. It all started with a radio
“His comments were quickly weaponized by groups known for anti-Igbo sentiments, fueling divisive narratives that undermine national unity.
“Dr. Abati’s hostile response to a colleague, Ms. Ojy Okpe, on the following day’s broadcast, demonstrated a troubling disregard for professional journalistic standards.
” The remarks and behavior constitute a breach of the Nigerian Broadcasting Code, which prohibits content that incites division or promotes hate speech.”
The petitioners called for a thorough review of Abati’s remarks and the editorial lapses that allowed such conduct to air.
Nigeria Civil Aviation Authority (NCAA) has called on aviation passengers to become more informed about the challenges they may encounter while traveling through airports.
This appeal was made by the NCAA Head of Consumer Protection, Michael Achimugu, during a road walk in Port Harcourt, the Rivers State capital, on Saturday, December 7.
He highlighted the importance of passenger awareness, especially during the heavy travel season, and emphasized the need for proper sensitization regarding flight delays and possible solutions.
“We’re now in the high travel season in aviation and as you know there’s been a lot of flight disruptions as well as a lot of complaints,” Achimugu said.
“Our duty at NCAA is to sensitize our passengers because most of the time when complaints come about these disruptions, it comes from a place of poor knowledge about their rights and responsibilities as air passengers. We must protect both the passenger and the airline,” he added.
The NCAA continues to engage in efforts to educate passengers and address concerns during this busy travel period.
Kaspersky Cybersecurity Experts Warn of Evolving Holiday Scams
Corruption: ICPC Threatens Sanctions as 330 MDAs Fail Financial, Governance Tests
Hackers Seize NBS Newly Redesigned Website
9Mobile Blames Network Outage on Data Center Fire in Lagos
Diaspora Remittances to Nigeria Reach $4.22 Billion in 2024, Says CBN
UBA Group Sets Foot in France with Full Banking Services
FG Begins N50 Electronic Levy Deductions from Moniepoint, Other Digital Banks
Report Reveals Most Organisations Fear AI-driven Cyberattacks but Lack Key Defences
Nigeria Risks Missing out on $1.2 Trillion AI Opportunity- NigComSat
Firm Sues NIMC, Others On Digital Rights Breach Allegations
Telecom2 days agoAbuse of Trusted Applications Grows by 51% in Latest Sophos Report
E-Financial2 days agoCBN Pegs Daily Transaction Limit on PoS Agents @ N1.2m
Telecom2 days agoTowards Cashless Societies: Mobile Money Leading the Way in West Africa
Telecom2 days agoMTN is Largest Contributor to VAT Pool, Pays N200Bn Monthly—PFPTRC
Telecom2 days agoHow MTN is Leading the Charge for Disability Rights on International Day of Persons with Disabilities
News1 day ago9mobile Addresses Recent Service Outages, Apologizes for Inconvenience
E-Financial2 days agoSEC Urges Public Companies to Publish Financials Online by January 2025, Threatens Sanctions
Telecom2 days agoAirtel Kicks-off 10th Edition of ‘5 Days of Love’, Feeds 6,000 Across Nigeria