AI, FinTech, and Web3 have been the most dominant tech trends lately. Each of these sectors is playing a key role in reshaping industries, communities and online interactions. Far from being buzzwords, the three sectors are redefining how we interact with data, finance, and even the internet.
Some interesting developments in these innovations have occurred over the past few years, but what lies ahead? This article’ll analyze the key trends for AI, Web3 and FinTech in the coming months and years.
Be prepared for a new wave of tech innovation that will change how we live, work, and connect!
Artificial Intelligence
During the early days of the 21st century, artificial intelligence was still viewed as a SciFi concept. Although the tech was in widespread use in some industries thanks to its generative capacities, AI belonged to the average consumer in fiction and fantasy.
In recent years, however, concentrated efforts have been made to make AI a reality. We now have a technology that’s capable of accomplishing tasks that previously only humans could do, and we’re becoming increasingly reliant on it—despite the controversy associated with its use.
Interestingly, while generative AI is causing shifts across entertainment sectors, the average consumer is more interested in its practical applications. The initial fear surrounding the “rise of the machines” has now dissipated. Especially as the world has realized the true creative limitations of AI tech. This shift in the sector’s perception points towards future growth.
Programs like Google’s Alexa, Apple’s Siri, and, more recently, OpenAI’s ChatGPT have normalized AI tools for daily use. According to research conducted by The Verge, the productivity aspects of artificial intelligence are most appealing to consumers—particularly older generations. Data privacy continues to be a concern. AI apps are promising, and businesses and educational institutions are becoming more open to AI tools.
Web3
Web3, aka Web 3.0, represents a new era for the internet. Unlike the current Web 2.0, which is dominated by large corporations controlling data and services, Web3 aims to give power back to users by leveraging blockchain technology and decentralized networks.
Web3 is the new kid on the block compared with FinTech and artificial intelligence. However, it’s already begun to make a new paradigm for internet use a reality.
One of Web3’s biggest impacts to date has been the emergence of GameFi. This decentralized gaming sector encompasses everything from cryptocurrency gaming—including crypto gambling—to play-to-earn gaming. Combining gaming with DeFi has enabled consumers to participate in a wide variety of gambling experiences. Meanwhile, the global rise of P2E gaming has shifted the narrative around the ownership of the digital assets earned and purchased in video games.
In the realm of poker specifically, Web3 has introduced revolutionary changes. On platforms like Ignition Poker, cryptocurrency integration allows for seamless, borderless transactions in poker games, expanding global player pools and the magnitude of online poker tournaments. This is truly revolutionary, as all the crypto-based innovations in the sector are attracting more betting enthusiasts to a new era of digital card gaming, opening up a world of new opportunities in the virtual poker ecosystem.
Up Next
In the years to come, we can expect to see yet more significant shifts driven by developments inside Web3 ecosystems. In particular, the tokenization of real-world assets is set to become a key trend.
This process involves converting the ownership rights assets, such as artwork, commodities, and even real estate, into digital tokens. Each token represents a fraction of the asset, facilitating new ownership and investment opportunities for a broader demographic. For instance, in breaking down an asset like gold into smaller and more affordable tokens, more people will be able to participate, resulting in more inclusion and diversity in investing.
We’ll also likely see Decentralized Autonomous Organizations gaining more of a stronghold in sectors as diverse as social media, gaming, and even DeFi. DAOs foster governance among community members, providing a more equitable framework that truly supports a democratized internet.
FinTech
FinTech has revolutionized the financial services industry. We now have the ability to pay for goods and services and even manage investment portfolios from virtually anywhere in the world, conveniently from our smartphones. While the sector’s short-term growth has been affected by the increased cost of living and major geopolitical events, fintech apps have become a daily staple.
According to Plaid, 55% of consumers rely on fintech apps to manage their finances and make money-related decisions. There’s a genuine consumer need for financial technologies, which also guides the market’s future development.
While banking and investing apps will undoubtedly grow in popularity in the coming years, programmable money is another new financial paradigm being ushered in by the ongoing development of fintech. This concept leverages blockchain tech and smart contracts to create money with specific rules and conditions embedded within it—and it could be a tremendous force for financial empowerment.
Unlike traditional static banking methods and traditional money, which can only be transferred or saved, programmable money can actually execute predefined actions when specific conditions are met. For instance, businesses can streamline their payroll process and ensure every employee is paid on time by using programmable money. It even has applications in the charity sector, with donations being programmed so that funds can only be used for specific purposes.
