 |
Get all the important market news and expert opinion in one place with our daily newsletter. Receive a comprehensive summary of the day’s top stories straight to your inbox. Sign up here! |
(Kitco News) – In the months since ChatGPT was first revealed to the world, the internet has gone from glee and glamour, to a list of concerns about the impact of unchecked artificial intelligence on society.
The blockchain ecosystem has responded to the AI revolution with soaring token prices for artificial intelligence-related crypto projects, but after the first wave, these volatility continues to rise as investors seek to find substance beyond the hype. Many of the tokens in are experiencing a sharp correction.
To better understand the future of AI and blockchain, Kitco Crypto spoke with Fetch.ai (FET) Founder and CEO Humayan Sheikh. FET is an artificial intelligence lab building an open, permissionless, decentralized machine learning network for cryptocurrencies. economic.
According to Sheikh, AI has numerous applications when it comes to blockchain technology. For example, AI in finance “can be trained on economic data to enhance decision-making and identify trends and anomalies.” Blockchain developers are also starting to turn to AI to create contracts, he said.
At Fetch.ai in particular, introducing a large-scale language model into the Fetch.ai wallet proved that AI could help power the project’s Web3 tools, Sheikh said. “Wallet users can now type text into the chat field to summon information into the wallet. We will continue to consider it.”
Future development will focus on the ability for users to transact via text input, such as the ability to give verbal commands to “send John $80.”
Other applications include AI-trained autonomous agents that “can learn and predict useful economic tasks that users need and act on those learnings with minimal or no intervention.” includes creation. “AI-based agents will become a kind of personal assistant that can ease the burden of everyday life.”
Services like ChatGPT
One of the main use cases Sheikh points out for how blockchain platforms can benefit from services like ChatGPT is task automation. “Language models like ChatGPT can be used to understand and interpret input. [the] Fetch.ai tech stack for executing responses. It could be as simple as “if” $50 goes to account 1, “then” pay Alice. It can also get very complicated. ”
He argues that the concept of how large-scale language models and machine learning can improve products and services has been driven by projects ranging from blockchain-based games to DeFi applications to decentralized autonomous organization (DAO) voting and governance. It added that it was being investigated.
next big breakthrough
When asked what the next major advance will be from the combination of blockchain and AI, Sheikh said it would be “the development of autonomous systems that can operate on decentralized networks.”
“These systems can leverage the transparency and security of blockchain to make automated decisions, execute transactions, and perform complex tasks without the need for intermediaries or centralized control.” He said. “This can lead to significant efficiency gains, especially in areas such as supply chain management, finance and logistics.”
Another promising area is the integration of AI and Web3. “We have the potential to create new decentralized applications that are more secure and transparent than traditional ones,” said Sheikh. “Integrating AI with Web3 will enable the creation of intelligent, autonomous applications that can operate independently without the need for human intervention.”
AI-powered analytics tools running on top of blockchain networks are also a possibility. Organizations can gain greater insight into their data while maintaining the privacy and security of sensitive information.
“The combination of blockchain and AI could usher in a new era of autonomous decentralized systems that will enable greater efficiency, security and transparency in various industries,” he said.
Sheikh also countered critics who said the recent rise in AI-related tokens was all based on hype, pointing out that AI and agent technology is maturing. “We are moving out of the R&D stage and beginning to uncover practical technologies. There is interest for these reasons, especially as potential applications in the areas of supply chain management and energy distribution.”
Fetch.ai’s CEO pointed to the platform’s agent technology as one of the most promising applications to date. “We believe this technology has great potential to transform various industries and create more efficient distributed systems.”
In the coming days, Fetch plans to launch a new agent-based DEX for peer-to-peer trading that solves some of the main pain points for DeFi users. Lag-pull is responsible for millions of dollars worth of lost funds, but removal of agent-based his DEX-powered “centralized honeypots” makes rag-pull theoretically impossible.
The Dangers of Integrating AI and Blockchain
Hackers are the biggest threat to platforms that utilize both AI and blockchain technology, Sheikh said. This requires projects to stay up to date with robust security measures and due diligence such as regular smart contract audits.
There are also AI-focused concerns that have begun to make headlines in the mainstream news, such as legal issues surrounding bias and intellectual property. “These are big topics in their own right that we can’t afford to cover enough, but they need to be considered carefully,” Sheikh said.
“Blockchain and AI are both very powerful technologies, and together they have the potential to fundamentally change the way we live and work,” he speculated. “AI and blockchain can interact as part of a technological device that will shape the future of communication.”
Disclaimer: The views expressed in this article are those of the author and may not reflect the views of the author Kikko Metals Co., Ltd. The author has made every effort to ensure the accuracy of the information provided. However, neither Kitco Metals Inc. nor the authors can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation of an exchange of commodities, securities or other financial instruments. Kitco Metals Inc. and the authors of this article accept no liability for loss and/or damage resulting from the use of this publication.
