Abstract
Smart contracts backed by artificial intelligence hold the key to a
better tomorrow. As smart contracts begin to incorporate artificial
intelligence, many previously steady marketplaces might instantly turn
unpredictable. A smart contract is a program that operates autonomously
on a blockchain. The program’s decentralization ensures its safety,
openness, and credibility. However, since they are static in essence and
cannot adapt to new circumstances due to their immutable nature, these
programs are limited in the tasks they perform. As a remedy for this
shortcoming, we propose a few novel use cases where we solve some of the
huge problems in a wide array of domains by incorporating Artificial
Intelligence in these programs called Smart Contract. With consideration
of hardware and new frameworks, this manuscript also discusses the
potential of utilizing AI in such contracts. We describe the usage of AI
to monitor the activity of these smart contracts in real- time and to
provide an alert if an attack seems imminent. We also offer a new
approach for marketing businesses and organizations on the blockchain
(DAO) that is likewise decentralized and makes use of AI in the smart
contract to enable incentivization. The use of AI in Smart Contracts
also opens the door to the possibility of other applications, such as
Fashion Design in Gaming.