The advent of Chat GPT 3.5 by OpenAI has brought artificial intelligence (AI) into the daily lives of people, transcending its past perception as a mere cinematic fantasy. The intersection of AI and cryptocurrency is creating a new narrative for the internet’s future, Web3, integrating various sectors with blockchain technology. Companies are preparing to transition from the current Web2 environment to this blockchain-based future, which promises enhanced data ownership and utilization. While the shift may present challenges, AI is poised to facilitate this transformation.
Advancing Web3 and Efficiency
Artificial intelligence is currently capable of outperforming human tasks and is expected to handle increasingly complex functions. It supports the Web3 movement by boosting the efficiency of users, service providers, and governments. Those utilizing AI in their work are witnessing a surge in productivity and sustainability, reminiscent of the Industrial Revolution. With AI’s ability to self-improve over time, it holds potential to progress from basic automation to a self-enhancing system.
AI’s Emerging Role in Development
Cryptocurrency development often involves global teams who have never met, and AI can significantly enhance their work by assisting with code error checking, among other tasks. AI is also making strides in cybersecurity and penetration testing, performing more effectively than an average human intern. This natural machine learning capability allows AI to refine its skills continually, potentially advancing from novice to expert roles within the industry.
Envisioning AI-Driven Crypto Governance
Looking ahead, imagine a decade from now, where AI dominates the crypto industry, developing smart contract platforms and managing them through decentralized autonomous organizations (DAOs) that adhere to ethical standards. AI could assume leadership roles, maintaining community engagement, constantly improving protocols, and facilitating trustless decentralization, showcasing the indispensable synergy between AI and cryptocurrency.
Spotlight on AI-Driven Crypto Projects
ChatGPT has made AI more accessible, and its importance in crypto is undeniable. AI-focused crypto projects are gaining traction, with Render (RNDR) leveraging GPU power for AI applications and The Graph (GRT) enhancing blockchain indexing services with AI. Fetch (FET) has seen considerable growth through its AI and Internet of Things (IoT) integration. Numerous other AI-influenced cryptocurrencies like NEAR and Oasis are gaining recognition, with the collective value of AI-related altcoins reaching $23.3 billion and maintaining substantial daily trading volumes.