- Internet Computer (ICP) focuses on Hosting on-chain Artificial Intelligence (AI) directly on its blockchain network.
- Founder Dominic Williams claims ICP is the first blockchain to run neural networks as smart contracts, starting with image and facial recognition.
- Unlike other networks, ICP includes the entire AI development stack on-chain, eliminating reliance on outside hosting services.
- Williams says AI can develop and update applications much faster than humans, potentially changing how users interact with blockchain technology.
- Despite these developments, the ICP token price has not seen significant growth and continues to follow broader market trends.
Internet Computer (ICP), a blockchain project aimed at advancing on-chain artificial intelligence, is intensifying efforts to position its network as the preferred platform for AI-powered applications.
Dominic Williams, founder of ICP developer Dfinity, stated in an interview that the technology has advanced to where AI can now develop blockchain applications, reducing the need for human coders. He highlighted that markets do not yet reflect these technical achievements in the ICP token price, which was most recently valued at $4.73.
The project demonstrated the first neural networks operating as smart contracts in April of last year, starting with limited tasks like image classification and facial recognition. Williams explained that these initial models, though simpler than popular tools like ChatGPT, proved that running AI directly on a blockchain is possible. According to Williams, no other blockchain network has achieved this level of integration for AI, as “others rely on off-chain infrastructure like Amazon Web Services.”
Williams described ICP as a “self-writing internet,” where users input their needs and receive an AI-built application. ICP’s design features, such as “reverse gas”—where developers, not users, pay transaction costs—aim to make deployment easier and more accessible for non-technical users. This structure removes common issues like firewalls or database migrations.
Williams stated, “AI is developing these apps hundreds of times faster than humans could. And because there are no system admins standing by, you need the guardrails only blockchain can provide.” Early hackathons on the ICP blockchain saw users build tools for tasks ranging from pothole mapping to drafting legal documents.
Despite these technical steps, the price of ICP tokens remains closely tied to overall market movements rather than adoption rates, according to Williams. He acknowledged the gap between technological progress and token price: “In the long run, markets begin to reflect realities on the ground, but as yet you’re not seeing what’s happening with Internet Computer reflected in ICP’s price.”
Williams suggests that as more people interact directly with AI-powered blockchain apps, perceptions of Web3 may shift, potentially allowing the technology to compete with traditional internet services. For more on this topic, see the full CoinDesk interview.
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