Generative AI has been making headlines in the past few months with impressive breakthroughs and applications, such as AI-powered chatbot ChatGPT and image generators Stable Diffusion and Midjourney. While generative AI is attracting much attention from the public and investment from the tech industry, cryptocurrency is losing its momentum and appeal. Some venture capital investors have changed their profile taglines from “all in on crypto” to “all in on AI”. However, the potential convergence of artificial intelligence and cryptocurrency is being underestimated. They should not be seen as competing forces in the digital economy. Instead, we should be excited about potential synergies and the impacts they can have on the next generation of the internet. For regulators, investors and entrepreneurs committed to building a global hub for Web3 in Asia, it is important to recognise the next generation of the internet could well result from the coming together of AI and cryptocurrency.
ChatGPT reached 100 million monthly active users just two months after its launch, making it the fastest-growing consumer application in history, according to a recent UBS study. Mass adoption happens to be the major challenge for blockchain technology.
Full opinion : How AI and cryptocurrency can work together to realise Web3’s potential.
