The controversial crypto project Pi Network has announced a collaboration with an AI-focused company that specializes in enabling robots and intelligent systems to interact with their environments and with each other. This partnership aims to achieve three primary objectives: to increase the utility of PI, to facilitate the operation of more of the world’s production on the Pi Network, and to integrate the asset into real-world use cases. The token’s price has experienced significant gains in the past week, following other notable developments.
Jumping Into the AI Trend
Pi Network Ventures, an entity within the Pi Network’s ecosystem dedicated to investing in startups and businesses across various industries, has made its inaugural investment in OpenMind. OpenMind is a company that is developing an operating system designed for robots, enabling them to "think, learn, and work together – like Android for robots."
According to the Pi Network team, this collaboration is in line with the project's vision for the future of blockchain technology and Artificial Intelligence. They believe that a decentralized infrastructure will support open innovation and equitable participation within these fields.
Beyond the investment, both entities have successfully completed a proof-of-concept project. In this project, volunteer Pi Node operators have been running image recognition AI models for OpenMind.
“This early experiment, where OpenMind’s AI models can run on Pi Node infrastructure, explores the capability of Pi’s global network of nodes to support decentralized AI training and computing tasks – another Pi Node utility in addition to securing the Pi Ledger. This is also a platform-level utility, relying on the collective resources of the network, i.e., computation power of its over 350,000 active nodes.”
The Pi Network team acknowledges the rapid technological advancements occurring in the AI sector. They are hopeful that engaging with this niche could prove beneficial for its native cryptocurrency and the entire ecosystem.
PI Price Outlook
The news of the collaboration has had a relatively minor impact on PI's price volatility. As of the current writing, PI is trading around $0.25, marking a 4% decrease over the past 24 hours.
This decline is consistent with the broader market trend in the cryptocurrency sector. The market has seen a retreat following the Federal Reserve's anticipated decision to lower interest rates in the United States by 0.25%. One user, Marzell, suggested on X that this event had already been factored into prices, leading to a typical "buy the rumor, sell the news" scenario.
“That means many traders bought PI in anticipation. Once the decision is confirmed, profit-taking could trigger a sharp pullback,” he claimed.
In Marzell's assessment, overbought technical indicators and persistent core structural issues within the market may have also contributed to PI's pullback in the preceding day.
Despite the recent dip, the token has performed strongly on a weekly basis, registering a 27% increase. Factors contributing to this comeback over the past week include renewed speculation that Pi Network has joined the ISO 20022 initiative and the official activation of Testnet2 v23.
