Binance Labs executive: The company's recent AI investments aim to support the wave of AI-driven DApps

ChainCatcher news, according to Cointelegraph, Binance Labs' investment director Max Coniglio shared details about the company's recent investments and explained why the company is venturing into the field of artificial intelligence. Coniglio stated that one of their recent investment targets is to promote decentralized applications powered by artificial intelligence.

Coniglio believes that if both artificial intelligence and blockchain are open source, they will thrive. Coniglio explained, "Artificial intelligence and blockchain are a powerful combination. Both rely on open-source innovation, challenge traditional regulations, and drive significant wealth creation. They complement each other by addressing challenges between them." Coniglio thinks that these two technologies fit together, with artificial intelligence improving the user experience of blockchain and enhancing decentralized systems; on the other hand, blockchain ensures authenticity, facilitates collaboration on open-source projects, and supports the computational needs of artificial intelligence.

While these ideas sound promising in theory, Coniglio pointed out that those looking to leverage these technologies to build projects still face challenges. Coniglio stated that blockchain developers and projects must build solid products and sustainable businesses. He added, "To succeed, founders must master artificial intelligence technology and possess a sharp business acumen. Relying solely on new technology will not create a large-scale impact."