AI Set to Play Large Role in Development of Web3

Two emerging technologies that are fast becoming mainstream are Artificial Intelligence (AI) and Web3. Products and services in a myriad of fields have been exploring ways to integrate AI and to move to Web3.

The term artificial intelligence was coined in 1956 at the Dartmouth Summer Research Project, where a two-month study of how machines could imitate human intelligence took place. The AI industry has grown tremendously ever since. According to data from Statista, revenue from the global AI software market is expected to reach $126 billion by 2025.

Source: https://www.statista.com/statistics/607716/worldwide-artificial-intelligence-market-revenues/

Language processing, health, transport, manufacturing, aeronautics, automobiles (self-driving cars), security systems, virtual assistants, logistics, and a host of industries, products, and services have seen a drastic transformation as a result of AI. Web3 has not lagged in its infusion of AI. Web3 and AI are both emerging technologies that are disrupting the way we live, play, transact and work.

AI is integrated into systems to automate processes for more efficiency and performance. AI is based on machine learning, therefore, it greatly reduces human-prone errors when solving complex tasks. AI creates precision.

Web3 has created the decentralization of data and information on the Internet using distributed ledger technologies like the blockchain and the tangle. In Web3, users can store, retrieve, and explore data without the need for a central authority. AI is capable of learning patterns and applying them to solve problems with minimal human intervention. Web3 limits the need for a central authority, while AI limits the need for human intervention.

Recent AI Trends

Artificial intelligence has grown into a very broad field comprising several subfields. Machine learning (ML), deep learning, natural language processing, and robotics are some of the subfields of AI.

Machine learning, one of the prominent subfields of AI, has paved the way for the development of useful programs such as automatic speech and image recognition systems, language translators, and intelligent chatbots.

ChatGPT

Artificial Intelligence laboratory OpenAI recently launched an interactive chatbot based on the Generative Pre-training Transformer (GPT) language model developed by OpenAI. GPT is a language model that is trained to generate human-like text and can be fine-tuned for a variety of language generation tasks.

ChatGPT is OpenAI’s highly-capable chatbot with the ability to interact and provide human-like responses. Since its launch in early December, users have queried ChatGPT for answers to common and complex questions and the surprisingly human-like responses ChatGPT gives have been widely shared on social media. ChatGPT has been called the ‘killer of search engines.’

Search engines like Google Search and Bing have been widely used in the past few decades. The evolution of the web into Web2 greatly enhanced the online search experience; however, the introduction of intelligent and capable machine learning chatbots, is about to result in the slow but sure demise of Web2 search engines.

Search engine giant Google is well aware that the world is moving towards alternative and improved systems. Google has been actively developing AI systems. An array of systems are being built by tech giants which will usher the web into its next evolution.

If search engines die, the current online advertising model and ads monetization will also disintegrate. Web3 alternatives such as NFTs might become one of the ways companies will be able to reach customers online and monetize.

Source: Twitter

ChatGPT is also considered a great debugging companion. Using AI, ChatGPT has shown the ability to read and write code. Crypto professionals have started using the AI-powered program for simple code audit tasks. Developers at smart contract auditing firm Certik have used ChatGPT to tackle the challenge of “quickly understanding and summarizing the semantics of complex code snippets.” Certik says its experience of using ChatGPT to solve coding problems has been positive, and the AI program has been helpful.

Midjourney, Images.ai, and other AI Image-Generating Tools

AI image generation entail turning text-based prompts into unique realistic-looking images. With an image-generation program like Midjourney or a top AI image generator, users can create synthetic art with just a few mouse clicks.

An image generated by the query “Netflix in the year 1960” on images.ai

Just like querying a search engine will return results of web pages and hyperlinks, querying an AI image generation program returns generated images. Some NFT artists fear that the ease with which interesting AI-generated images are created could lead to an oversaturation of NFT marketplaces with randomly generated images created by non-professional artists; others see the ease of art creation made possible by AI to be next big art trend and the catalyst of the popularity of NFTs.

The future intersection point of AI and Web3 is still somewhat vague; however, AI-generated art and NFTs already reveal that AI and Web3 will be a rich technological blend in the next iteration of the Internet.

Using a combination of AI-generated images, text, and sound, useful AI-powered multimedia and audiovisuals can be created. A book, for example, which would typically take weeks to write, proofread and publish, could be generated in a matter of minutes by AI. ‘A Bear and a Robot: Artificial Imagination’ is a newly launched, world’s first AI-generated book. The book tells the stories of a blockchain-obsessed bear and his friends as they journey through the metaverse and beyond.