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

Billionaire Kevin O’Leary says AI and blockchain will spark the “next revolution in business”, with AI capable of autonomously making retail purchases and using blockchain to process payments.

In a three-minute video posted on X Saturday, the Shark Tank co-host and venture capitalist said blockchain will support the arrival of AI-driven transactions, processing everything from orders at Walmart and Target to burger joints and cafes.

“Just say into your phone, ‘I’d like a tall, low-fat latte, please.’ I’ll be there in 90 seconds. That’s it.”

“What happens there is the AI ​​analyzes where you are and looks at the geography of which retail stores. [is nearby] And then we decide that that’s it and use blockchain to actually run a digital payment system for tall low-fat lattes,” O’Leary explained.

“Retailers already know who you are, so when you walk into the store, they’ll see your name,” he added.

Mr. Wonderful is waiting to find a winning solution

But O’Leary said he has yet to find a solution that can process millions of retail transactions simultaneously at a low cost.

He said current solutions like Ethereum can’t do that because they order transactions linearly, leading to delays and high fees during peak traffic times.

“It’s a long stretch of highway on the way to the toll road to authenticate transactions, but if too many people are on the highway at the same time, they get stuck at the toll plaza and get congested.”

“So we don’t have the technology, at least not yet, to do what we just described,” O’Leary added.

However, a solution to the problem O’Leary described already exists, known as a directed acyclic graph, which processes transactions in a web-like structure rather than ordering them into a single block.