A whole lot of ink can be spilled on the terms above.

A whole lot of critique can be given where it concerns the use of these words.

AI, Artificial Intelligence, is a subject frequently spoken of in fiction and futuresque settings.
The last couple of years have tremendous strides in AI programming been taken.
Since 2022 did AI become a more popularized concept with the rise in chat-bots and CHATGPT (A Chat Generative Pre-trained Transformer, or in more simple terms: “A highly advanced chatbot with good writing skills”).

Highly advanced chat-bots come with a plethora of advantages for businesses.
– Writing highly technical transcripts and texts
– Direct basic support without human errors
– …

But AI comes with a whole lot of other challenges which need to be overcome.
In a recent break-down I talked about the influence AI will have on our society.
The advantages it brings as well as the possible pitfalls.

 

But what about METAVERSE and WEB3? 
How do these concepts fit into the AI narrative? 
Where it concerns blockchain and Cryptocurrency are CryptoPunks combining and programming new frontiers. 
Plenty of new projects whom are touting to “built onto the next WEB3”. 
Plenty of blockchain-based games promising to create a very immersive game-world, literal Metaverses with plenty of things to do. 

The use of AI is being implemented into these fields. 
For WEB3 is AI mostly being used as a “provided service”. 
– Chat-bots to help prospective “builders and developers” with their questions
– The writing of technical documents (whitepapers) 
– Contract verification
– Bots in a variety of community-based platforms (social media bots)
– Use for marketing, promotion etc… 

Where it concerns the use in METAVERSE (mostly blockchain-based gaming).. 
– All of the above applies 
– Creation of dynamic and multi-dimensional NPC-characters to freely interact with

As we are talking Cryptocurrency and blockchain, we should not become surprised that the use of AI and “Artificial Intelligence” (as terms) is going to be abused. 
This, in pretty much the same way that “Metaverse” and “Web3” have been used as marketing buzz-words (and upon deeper inspection of said projects were not that at all). 

When analyzing so-called “AI-coins” and “AI-based Cryptocurrency”, try to find out what exactly is “AI” to the project. In many instances will it be a rebranding and renaming of already existing constructs such as “Automated Market Makers“. These are simple “bots” that have existed since a long time and with a bit of a stretch of reality could potentially be labeled as “Artificial Intelligence”… but without the cognitive and creative functions many true AI truly possess. 

.. or in other words, simple input-output bot-programs. 

There is definitely high potential in the use and integration of AI where it concerns blockchain. 
But as I delve deeper into this hype, and its use in the Crypto- and blockchain-landscape, it becomes obvious plenty of pitfalls exist. A deterioration and perversion of the term for cheap low commercial ends. It is in this sense that the prospective investors might be wise to inform themselves before “jumping into the hype” and getting rekt on all sides.