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Generative AI Could Offer a US$60 Billion Opportunity to the Supply Chain, But Stakeholders Struggle to Define a Strong Revenue Model

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Generative AI’s supply chain money tree cannot last forever and sooner rather than later they must look to build strong and differentiated revenue strategies to offset their ever-growing operational cost burden

LONDON, Aug. 2, 2023 /PRNewswire/ — Generative Artificial Intelligence (AI) is not a new technology, but its democratization was triggered by the emergence of powerful public APIs, notably ChatGPT. Since then, the consumer market has experienced tremendous traffic with high usage. In the wake of this demand, the supply chain has exploded with significant activity across each layer (R&D, hardware, foundation model, ML service tools, data services, applications, and ethics/regulation), trying to build access to commercial opportunities in the enterprise segment. According to a new report from global technology intelligence firm ABI Research, this market will rapidly expand by 2030 at a CAGR of 162%, offering nearly US$60 billion in revenue for supply chain stakeholders.

“Capturing the enterprise commercial opportunity is essential as stakeholders continue to struggle beneath a significant cost crisis driven by the consumer segment. Building data sets, deploying infrastructure, training, and running large language models like Claude, LLaMa, Titan, or GPT-3.5 has a sizeable cost burden that will be challenging to reduce,” explains Reece Hayden, Senior Analyst at ABI Research. “Popular public applications like ChatGPT cost at least US$500,000 per day to operate. That cost will only rise as usage increases. So far, stakeholders have relied on external funding to support free access through venture capital investment or internal subsidies. This cannot continue forever, and stakeholders must identify strategies to start generating revenue in the consumer and enterprise segments.”

Given their high customer acquisition cost, stakeholders are primarily stuck in ‘freemium revenue models that are largely unsustainable in the consumer segment. “These models are also mostly unfit for purpose in the enterprise market,” Hayden points out. “Although moving on from this model will be challenging, the good thing is that plenty of monetization opportunities have applicability across the supply chain.” Stakeholders can look to implement advertising models like those used by search engines, revenue share models which have proven successful in adjacent areas like cloud marketplaces or even look to productize open-sourced LLMs with closed-source enterprise functions. But it is vital that stakeholders carefully align their capabilities with a revenue model as some may not be fit for purpose.

The most successful revenue generation strategies over the foreseeable future will look to support enterprise adoption directly. Most enterprises lack Machine Learning (ML) skills/tools, operational expertise, and strategic legal/governance frameworks to support generative AI development and implementation effectively. For this reason, Hayden recommends, “Supply chain stakeholders should look to provide consultancy services or build low/no-code platforms that support development, deployment, fine-tuning, optimization, operational change management, and day two operations.” Business consultants like Bain, McKinsey, and BCG have joined system integrator incumbents through partnerships with foundation model owners like OpenAI. Moving forward, the enterprise service part of the supply chain could be worth more than US$15 billion by 2030.

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Other factors are at play in this market, most notably the increasing focus on data privacy, which will trigger increasing interest in data service providers. Enforcement of copyright regulation for training data and enterprise demand for fine-tuning will create sustained interest in companies able to curate enterprise datasets or generate synthetic databases. “Recent fundraising rounds indicate more significant interest in ML data companies. For example, Mostly AI, a synthetic data generator, has just raised US$25 million, while Snorkel AI recently raised US$85 million at a valuation of US$1 billion, Hayden says.

“The supply chain has plenty of opportunities to offset their cost burden with revenue models, and some are already looking to do so,” concludes Hayden. “Beyond simply identifying new revenue models, stakeholders should look to build strong partnerships across the supply chain, build products/services that target B2B deployment and scale, and develop a leading position in responsible AI development.”

These findings are from ABI Research’s Generative AI: Identifying Technology Supply Side Revenue Opportunities application analysis report. This report is part of the company’s AI and Machine Learning research service, which includes research, data, and ABI Insights. Based on extensive primary interviews, Application Analysis reports present an in-depth analysis of key market trends and factors for a specific application, which could focus on an individual market or geography.

About ABI Research

ABI Research is a global technology intelligence firm delivering actionable research and strategic guidance to technology leaders, innovators, and decision makers around the world. Our research focuses on the transformative technologies that are dramatically reshaping industries, economies, and workforces today.

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ABI Research是一家国际科技情报公司,为全球科技领袖、创新人士和决策者提供实用的市场研究和战略性指导。我们密切关注一切为各行各业、全球经济和劳动市场带来颠覆性变革的创新与技术。

For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific, or visit www.abiresearch.com.

Contact Info

Global
Deborah Petrara 
Tel: +1.516.624.2558
[email protected]

Logo – https://mma.prnewswire.com/media/1471031/ABI_Research_Logo.jpg

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Blockchain Firm Squad Labs Raises $10 Million for Smart Wallet

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Squad Labs announced that its Series A funding round, led by Electric Capital with participation from RockawayX, Coinbase Ventures, L1D, Placeholder, and Mert Mumtaz, will propel the launch of its Fuse smart wallet. The company aims to establish Fuse as a premier solution for securing and compounding personal digital wealth amid the growing onchain economy.

According to the company’s news release on June 12, smart accounts and smart wallets are gaining traction across blockchains as they offer a more intuitive, secure, and programmable user experience. Fuse abstracts seed phrases and provides features like wallet recovery, 2FA capabilities, and enterprise-level security for personal custody, simplifying the choice of storing digital wealth on-chain.

In addition to securing funding, Squad Labs also announced the public testing launch of Fuse on iOS. This move is part of their strategy to expand accessibility and refine functionality ahead of a full market release.

Meanwhile, a recent report from PYMNTS Intelligence explores blockchain’s role in enhancing cross-border payments. It suggests that integrating blockchain can streamline payment processing, enable digital-to-fiat currency conversion, and introduce stablecoins for faster and cost-effective cross-border transactions. Business-friendly decentralized finance (DeFi) solutions further automate and secure transactions via smart contracts, reducing dependence on traditional payment systems and enhancing security and transparency.

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The report underscores the significance of educating businesses and end-users about the benefits of blockchain-based cross-border payments. It advocates for partnerships with FinTechs and proactive engagement with financial institutions to drive adoption and improve industry-wide support for blockchain technologies in payments.

Overall, Squad Labs’ funding round and Fuse’s development represent strategic advancements in blockchain technology aimed at enhancing digital wealth management and transforming cross-border payment landscapes.

Source: pymnts.com

The post Blockchain Firm Squad Labs Raises $10 Million for Smart Wallet appeared first on HIPTHER Alerts.

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TON Blockchain Surpasses Ethereum in Daily Active Users

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Ethereum’s comparative underperformance relative to TON can be attributed to several factors, notably the migration of a significant portion of its user activity to layer 2 scaling solutions. These solutions were not factored into the comparison with TON.

During a week marked by global crypto market fluctuations and cautious investor sentiment, The Open Network (TON), backed by Telegram, has seen substantial growth in user activity, surpassing Ethereum in daily active users.

Since the beginning of the month, TON and Ethereum have been closely vying for user engagement. However, leveraging Telegram’s extensive user base of 900 million, TON has consistently outpaced Ethereum for ten consecutive days starting June 1.

On June 3, TON achieved a significant milestone with 568,300 daily active addresses (DAAs), according to Artemis data. In contrast, Ethereum has not reached this level of activity since September 13, 2023.

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Delving Deeper
Ethereum’s apparent lower activity compared to TON can be attributed to various factors, including the adoption of layer 2 scaling solutions designed to enhance transaction throughput and reduce fees by processing transactions off the main Ethereum blockchain.

Consequently, the majority of Ethereum’s transactional activities have shifted to these layer 2 networks.

For instance, on June 11, the top three Ethereum layer 2 networks—Arbitrum, Base, and Optimism—collectively registered 1.3 million daily active addresses. This highlights that while Ethereum’s primary network may appear less active, substantial transactional volume is occurring on these secondary layers.

New Milestones and Market Performance
Despite the challenges of comparing directly with Ethereum, TON has demonstrated significant growth. Amidst the recent global market volatility, the network’s native token, Toncoin (TON), reached a milestone of $7.76 earlier this month, marking its highest valuation since launch.

Although Toncoin has since experienced a decline of over 12%, industry analysts remain optimistic about its future trajectory.

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A pseudonymous analyst, “Crypto King,” has forecasted a potential rise to $10 for TON in the near term, citing its robust user base, rapid infrastructure development, and Telegram’s support.

Another expert, Alex Clay, shares this positive outlook, suggesting short-term price targets of $10.5 to $11.6 for TON despite broader market downturns.

Furthermore, data from Token Terminal indicates promising long-term indicators for TON, showing a 3.6% rise in fully diluted market capitalization, a 76.3% increase in token holders, and a 26.0% growth in revenue and fees over the past 30 days.

Despite a slight decrease in trading volume by 11.6%, these metrics underline a strong underlying growth trend for TON.

Source: coinspeaker.com

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The post TON Blockchain Surpasses Ethereum in Daily Active Users appeared first on HIPTHER Alerts.

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Brickken is selected to participate in the European Blockchain Regulatory Sandbox

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Brickken, a startup based in Barcelona at the forefront of real-world asset tokenization, has been chosen to participate in the European Blockchain and Distributed Ledger Technologies (DLT) Regulatory Sandbox. This initiative aims to establish legal clarity for decentralized technologies like blockchain by identifying legal and regulatory hurdles to deployment. It will provide confidential guidance, legal counsel, and regulatory expertise.

Facilitated by the European Commission, this program will enable regulators to deepen their understanding of cutting-edge blockchain technologies and foster dialogue between public institutions and private entities such as Brickken.

By joining the European Regulatory Sandbox, Brickken gains the opportunity to refine and enhance its solutions within a secure environment. This will bolster its credibility with institutional clients, market operators, and bond issuers, facilitating its expansion into new markets. Brickken seeks to become a strategic partner for various participants in capital markets, enhancing operational efficiency and promoting technological synergy in digital asset management.

Edwin Mata, CEO and co-founder of Brickken, expressed excitement about this selection, emphasizing:

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“This opportunity validates our innovative approach to asset tokenization and allows us to collaborate closely with regulators and industry leaders to strengthen the blockchain ecosystem. The knowledge and experience gained in this regulatory sandbox will be invaluable for our future growth and success.”

Brickken’s inclusion in this sandbox marks a significant milestone in its mission to revolutionize the tokenization industry. Recently selected for PricewaterhouseCoopers’ Scale program for tokenization and digital assets, Brickken continues to advance blockchain adoption among institutional clients, banks, and capital markets. Additionally, the company has forged partnerships with industry leaders like Psalion and Chainlink, known for their real-world asset tokenization technology.

In collaboration with Coinbase, Brickken aims to set new standards in infrastructure and market structure for real-world asset tokenization. Leveraging Coinbase’s technology such as Wallet and Base, Brickken brings its expertise in tokenization and technology to build robust solutions.

Established in Barcelona in 2020 by Edwin Mata, Yassir Haouati, Bram Duindam, and Dario Lo Buglio, Brickken has experienced rapid growth, operating in over 14 countries and tokenizing assets exceeding 200 million euros. With a client base of over 50, the company has achieved over 100% growth compared to the previous year and is expanding into new verticals.

Brickken’s digital asset platform specializes in tokenizing financial instruments such as equity and debt, catering to entities of all sizes, asset types, and jurisdictions. Offering robust technological support, Brickken enables market entry without the need for proprietary technology development. This positions Brickken to serve diverse sectors including real estate, startups, institutions, venture capital funds, and family offices, facilitating efficient digitization and management of assets.

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Source: cointelegraph.com

The post Brickken is selected to participate in the European Blockchain Regulatory Sandbox appeared first on HIPTHER Alerts.

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