The Internet Computer ICP: Pioneering On-Chain AI

ICP priced at $4.7526, is positioning itself as the premier network for on-chain artificial intelligence (AI).

According to Dominic Williams, founder of the Internet Computer developer Dfinity, this could usher in a new era where AI becomes the primary architect of applications, reducing human intervention.

Williams remarked that although cryptocurrency prices are often influenced by market dynamics—such as treasury operations and speculative trading—the true technology will eventually drive market corrections. He emphasized the persistent disconnect between the Internet Computer’s advancements and its current ICP price.

Running AI on-Chain

In April, the Internet Computer showcased neural networks operating as smart contracts, starting with image classification and evolving into facial recognition. Williams noted that these models, while simpler than large language models like ChatGPT, proved that AI can operate natively on blockchain—an achievement unmatched by other networks relying on external infrastructures like Amazon Web Services.

The Internet Computer aims to merge the AI development process entirely on-chain. Williams describes it as “a self-writing internet,” allowing users to request applications that AI can directly deliver and host on ICP.

His broader vision includes AI transforming the developer landscape by autonomously creating applications, updating them in real-time, and ensuring reliability via blockchain. This perspective positions blockchain as more than just a token settlement layer; it becomes an ideal environment for AI-driven applications. Features like “reverse gas,” where developers cover computational costs, eliminate issues associated with traditional infrastructures like firewalls or database migrations.

“AI is developing these apps hundreds of times faster than humans could,” noted Williams. He described early hackathons where everyday users created innovative applications, such as a pothole-mapping platform and tools for drafting wills.

The hope is that millions of such applications will emerge, enabling entrepreneurs and organizations, even without technical expertise, to build customized solutions funded through fiat while relying on crypto tokens in the backdrop.

Price Action Still Lagging

Despite these technological strides, ICP token hasn’t gained sustained momentum. It experienced a brief surge when AI announcements surfaced, but has since aligned more closely with overall market trends rather than individual user adoption.

Williams acknowledges this discrepancy but anticipates an imminent market correction. “This could be the first time Web3 technologically surpasses Web2 without any token incentives,” he stated, predicting a moment of surprise when users realize they can communicate with AI to generate blockchain applications seamlessly.