According to billionaire Kevin O’Leary, artificial intelligence and blockchain will trigger the "next business revolution," with AI capable of autonomously completing retail purchases and utilizing blockchain for payments.
In a three-minute video released on the X platform on Saturday, the co-host of "Shark Tank" and venture capitalist stated that blockchain will support the upcoming wave of AI-driven transactions, covering various order processing for retailers like Walmart, Target, fast-food restaurants, and cafes:
O’Leary explained, "AI will analyze your location, find nearby retailers, and once a target is determined, it will complete the digital payment for a large low-fat latte through blockchain."
"It already knows who you are, so when you walk in the door, the retailer will display your name," he added.
AI is about to collide with blockchain and change everything. Imagine ordering your coffee by voice, AI finds the café, and blockchain processes your payment instantly. That’s the next revolution in business. Faster, smarter, fully on-chain. The question is: who builds it… pic.twitter.com/IWyTgY2tga
However, O’Leary stated that he has yet to find a solution that can handle millions of retail transactions simultaneously at a low cost.
He pointed out that current solutions like Ethereum, which process transactions in a linear sequence, lead to delays and high fees during peak times.
O’Leary added, "We don’t have that technology yet, at least not the… capabilities to achieve what I just described."
However, the problem O’Leary mentioned does have a solution, which is Directed Acyclic Graph (DAG). This technology processes transactions through a web-like structure rather than sequentially packing them into a single block.
Cryptocurrency solutions like Hedera and Nano have adopted this architecture, but their user base is only a small fraction of mainstream chains like Ethereum and Solana.
O’Leary stated that he is looking for the first project that can achieve this goal on a large scale. He added that this would be a fantastic career opportunity, as retailers like Walmart, Target, and fast-food restaurants need to process millions of transactions daily, each requiring independent verification.
Interestingly, last year O’Leary criticized people for spending $5.50 on coffee and $15 on sandwiches, arguing that these could be made at home for a lower cost.
Autonomous AI is assisting people with daily tasks, including searching, ordering, and reminding them of daily items.
According to Cointelegraph, Kyle Okamoto, the Chief Technology Officer of the decentralized infrastructure platform Aethir, stated that his wife developed an autonomous AI solution to remind her to replenish daily groceries.
Okamoto said her autonomous AI can categorize products on platforms like Target, Whole Foods, and Amazon, and even track promotional items. "Sometimes the yogurt the kids eat is a dollar cheaper at Target due to a promotion than at Whole Foods."
"She doesn’t want to repeatedly check these websites for the entire shopping list, so she lets the AI assistant help her complete it and push price reminders."
O’Leary believes that now it’s just a matter of finding a blockchain solution that can handle the payment aspect.
Related: Analyst: Bitcoin (BTC) is set for the next rally after OG holders finish selling
Original article: “Kevin O’Leary Says: You Can’t Buy Starbucks with Just AI, But It Will Be Possible When Combined with Blockchain”
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