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We are getting ready to a technological revolution not seen for the reason that Internet boom of the Nineteen Nineties. Microsoft and Google are racing to launch competitive products based on the technology that drives them. All that is left is to rebrand smaller startups to go hype and boom! We’re in a bubble.
Anyone who was around throughout the golden age of NFT in 2021 knows exactly where I’m going. The hype surrounding OpenAI’s generative AI chatbot, ChatGPT, is giving us all a dose of deja vu. Fortunately, there are key differences between the AI paradigm shift we’re currently experiencing and the NFT bubble of a 12 months and a half ago.
It is crucial to separate fact from fiction and be certain that AI innovators seize this moment to effectively and ethically push the boundaries of technology.
Related: What is ChatGPT? Google, Siri and even ChatGPT are confused about its existence
The technology itself
While we will learn from the 2021 NFT boom, from a purely technological standpoint, ChatGPT will simply blow up the Ethereum wallet where you store NFT jpegs.
We are talking a couple of complex language learning model (LLM) that processes huge amounts of textual data and infers relationships between words within the text. Essentially, LLMs fill the gap with probably the most statistically likely word given the encircling context — and ChatGPT does it on an unprecedented scale to write down poems, videos, and essays.
Conversely, NFTs are stored in blockchain-based wallets to represent the digital ownership of a particular asset, be it digital or physical. It is usually a picture, a automobile or a meme. So the “NFT” we’re talking about is definitely code for “blockchain”.
This isn’t to downplay the potential of blockchain, and particularly NFT, to resolve the issue of digital property. For example, a world where musicians regain the power to own and sell their music online sounds promising to creators who’ve touched a shorter stick within the Internet-driven democratization of data. However, which means many corporations marketing themselves as “Metaverse” and “NFT” platforms have greatly exaggerated its potential to radically transform industries. And it’s definitely limited in comparison with the potential of artificial intelligence.
After years of determination, blockchain enthusiasts are still trying to seek out a use case that may spark mass adoption. Sure, some average individuals are investing in bitcoin and buying NFTs in 2021. But compare that to the variety of offices that began using ChatGPT just a few days after its launch, and we now have a transparent winner.
Related: Does AI Deserve All the Hype? Here’s how you’ll be able to actually use AI in your online business
Challenges ahead
It’s much harder to convincingly “pretend” to be an AI company. The blockchain industry is so deliberately misleading that corporations in 2021 tried to pass off digital art that wasn’t even blockchain-based as “NFT” with standard Play-to-Earn (P2E) games adding “Metaverse” to the your messages.
It just won’t be an issue for the AI. Instead, the AI industry faces more serious challenges. Companies from virtually every industry will integrate and develop ChatGPT and other successful generative AI tools, finding recent and interesting use cases for them.
For this to occur, AI innovators might want to see the shortcomings of ChatGPT and capitalize on its strengths. Dr. Michal Tzuchman-Katz, co-founder and medical director at Kahun Medical, points to the improvements an AI model like ChatGPT would want to make to affect healthcare and higher serve doctors. The company has built an AI tool that “thinks like a physician” and offers clinicians a pre-patient visit.
While ChatGPT could make text interaction with patients smoother, it cannot think clinically like Kahun, who consults his own database of peer-reviewed medical literature for answers and traces back to his sources.
ChatGPT, then again, generates responses by comparing the user’s input with that of hundreds of others, and isn’t as transparent concerning the sources. This is an issue for other industries as well. There is talk of scholars using ChatGPT to write down essays and answer homework questions. But skilled journalists and authors is not going to have the ability to make use of the model beyond generating ideas and constructing outlines if they can not cite their sources accurately enough.
And then there’s the issue of prejudice. Conservative commentators reveled in tweeting about examples of ChatGPT displaying an obvious left-wing bias. More broadly, AI can also be stuffed with racial bias. Finding an answer to this problem can be considered one of the most important challenges faced by AI innovators seeking to expand using this technology.
In terms of accuracy, we will in fact expect ChatGPT to enhance quite quickly. The goal for the long run for AI innovators is to participate in its expansion and improvement. Adding a layer of transparency and tackling bias can be key to making sure it becomes more ethical and practical overall.
Related: How will ChatGPT change education and teaching?
