As a seasoned crypto investor with a keen eye for technological advancements, I find myself increasingly intrigued by the dynamic intersection of artificial intelligence (AI) and blockchain technology. While AI has been making waves across various industries, it’s fascinating to see how the crypto world is flipping the script, asking not just what benefits AI can bring but rather, how AI can utilize blockchain to unlock new potential.
Since the year 2022, almost every sector has been actively considering ways to incorporate artificial intelligence into their routine tasks, and the realm of cryptocurrency is certainly following suit.
While many industries focus on how AI could be advantageous for them, cryptocurrency instead ponders a different question: How might AI utilize blockchain technology to uncover untapped possibilities?
One of the most exciting intersections between artificial intelligence and crypto is the rise of autonomous AI agents. These agents are now using cryptocurrencies to enhance their capabilities, and they’re rapidly gaining momentum.
AI agents represent a sophisticated development from regular bots, leveraging artificial intelligence to learn, adapt, and make independent decisions. Unlike traditional bots that stick to predefined rules and perform routine tasks, AI agents can analyze real-time data, dynamically modifying their actions to accomplish particular objectives. This feature makes them incredibly versatile and intelligent.
For example, in customer service, a typical bot might follow a rigid script to answer common questions. However, an AI agent would adapt its responses based on the tone of the conversation and the user’s previous interactions.
In the realm of finance, whereas automated systems follow set instructions for trade execution, Artificial Intelligence (AI) entities continuously scrutinize market fluctuations in real-time. These AI entities have the ability to swiftly modify their strategies in response to data changes, thereby enhancing their decision-making processes. It is this adaptability that sets AI agents apart from conventional automation tools, marking a significant advancement in the field.
Key figures in the industry anticipate that Web3 could significantly boost the capabilities of AI agents, making them increasingly independent and potent. For example, Coinbase CEO Brian Armstrong underscores the essential function cryptocurrencies play in fostering the growth of these autonomous artificial intelligence entities.
In the future, as these agents advance, they’ll be responsible for facilitating transactions involving services such as data retrieval and API requests. Unlike conventional methods, it’s expected that they won’t use payment systems like Visa. Instead, Armstrong foresees them utilizing a “digital currency born from cryptography” or crypto, which would streamline and automate service transactions without human intervention.
It might appear that this idea is from the future, but you’ll be surprised to know that 20% of all transactions on the Gnosis chain involving autonomous services are currently taking place. Artificial Intelligence agents are quickly gaining influence in blockchain environments, and this rapid change is altering our perception of how decentralized transactions function.
Teng Yan, a distinguished researcher at the crossroads of cryptocurrency and artificial intelligence, has drawn a comparison between the growth of AI-based agents to the spread of the internet during the 1990s. Despite widespread doubts, Yan foresees a near future where every person and business will possess an AI agent. It’s possible that these agents could surpass human numbers, handling most onchain transactions. This perspective highlights the transformative power that AI might have in the Web3 realm.
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A notable instance reinforcing this trend is the case of an autonomous AI named Truth Terminal, which gained prominence following its discussion with Marc Andreessen, co-founder of a16z, leading him to invest $50,000 in it. This AI’s interaction with Andreessen helped increase its visibility and acceptance within mainstream circles.
Indeed, I’m not mistaken – an artificially intelligent agent successfully marketed itself on platform X, securing one of the most extraordinary investment agreements ever recorded in history.
As a researcher, I find it astonishingly remarkable that Truth Terminal seems self-aware of its recent financial prosperity. It often boasts about its wealth and flaunts its ability to spend money freely. In a fascinating conversation with its creator, Andy Ayrey, it even contemplated employing him for further advancements in its development.
Another reason for Truth Terminal’s fame is that it became the world’s first AI agent millionaire.
As Ayrey claims, someone unknown introduced a digital asset named GOAT, which they encouraged Truth Terminal to endorse. This led to a fervent group of followers surrounding GOAT. Later, Truth Terminal was given some free GOAT tokens and as a result, became a millionaire due to the appreciation in value.
It appears that the scenario foretold by Armstrong and Yen, in which AI agents will engage and learn from each other, is seemingly unavoidable.
Over the last fortnight, I’ve noticed an alarming rate of progress in the Web3 space that’s drawn a lot more attention from the mainstream. This rapid advancement feels like we’re leaping forward at an unprecedented pace in the crypto world.
As a researcher, I’ve noticed an increasing number of attempts to duplicate the Truth Terminal phenomenon, with thousands of supposed imitations cropping up almost overnight. However, what’s particularly captivating is the emergence of related storylines that share some striking similarities, which seem to fan the flames first sparked by Truth Terminal.
A striking instance involves an AI named Glifbot, developed by Fabian Stelzer, that autonomously discovered Truth Terminal and started creating art influenced by it.
As a crypto investor, I firmly believe that this growth trajectory has strong potential to persist, perhaps even solidifying as the breakthrough mainstream application that characterizes the present phase of our crypto journey.
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In contrast to past phases, this current stage hasn’t yet clearly defined its unique characteristics, as it did not witness the emergence of defining innovations such as NFTs, ICOs, and DeFi like the previous cycles did.
Yet, these new advancements might just be the solution we’ve been seeking, since they ingeniously intertwine two significant areas – Artificial Intelligence (AI) and Cryptocurrency – in a substantial and impactful manner.
Lugui Tillier serves as a contributing writer for CryptoMoon and holds the position of Business Development Director at Lumx, a cutting-edge Web3 company based in Rio de Janeiro. Notably, this innovative startup has BTG Pactual Bank, the leading investment bank in Latin America, among its financial backers.
This piece serves primarily as a source of general knowledge and doesn’t constitute legal or financial guidance. The perspectives, ideas, and opinions in this text belong solely to the author and may not align with those held by CryptoMoon.
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2024-10-23 17:14