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AI and Blockchain Will Spark Retail Revolution: Kevin O’Leary



AI and blockchain technology will spark “the next revolution in business,” according to millionaire Kevin O'Leary, as AI will be able to make retail purchases autonomously and use blockchain technology to handle payments.

In a three-minute video posted on X Saturday, the Shark Tank co-host and venture capitalist said that blockchain will power an incoming wave of AI-driven transactions, handling everything from orders at Walmart and Target to burger shops and cafes:

“You simply talk into your phone and say, 'I'd like a tall, low-fat cup, please. I'll be there in 90 seconds.' That's it.”

“What happens is the AI ​​analyzes where you are, looking at the geography of the retailer [is nearby] “It identifies this and then uses blockchain to create a digital payment system for a long, low-fat latte,” O'Leary explained.

“It already knows who you are. So the retailer has your name on it when you walk in,” he added.

Mr. Terrific is waiting to find the winning solution

However, O'Leary said he has yet to find a solution that can handle millions of retail transactions simultaneously at a low cost.

He said current solutions like Ethereum cannot do this because they require transactions in a linear manner, resulting in delays and exorbitant fees during peak traffic.

“It's a long highway down the road to a toll road to authenticate a transaction, and when there are too many people on the highway at the same time, they get stuck at the toll, and they get stuck.”

“So, we don't have the technology yet, at least one that can do what I just described,” O'Leary added.

However, there are already solutions to the problem described by O'Leary, known as directed acyclic graphs, which process transactions in a spiderweb-like structure rather than arranging them into single blocks.