Jeremy Allaire, the founder of Circle (a platform offering financial services), has recently raised concerns about the on-chain AI Bots. The Circle founder has shared these apprehensions with his followers on the social media platform Twitter. He noted that AI bots are getting more and more popular with their exclusive and smart properties.
How many AIs are there operating on-chain treasury accounts today? With the ability for GPT4 to spin out very good smart contract code, and GPT APIs to stack activities including code pipelines and deployments, I assume there must already be a proliferation of on-chain AI bots.
— Jeremy Allaire (@jerallaire) April 28, 2023
Circle’s Jeremy Allaire Raises Concerns about On-Chain AI Bots Claiming the Popularity of GPT4 that Can Allegedly Outsmart Smart Contracts
Jeremy mentioned that unique software like GPT4 can outsmart even the code of the top smart contracts. He also disclosed that the GPT APIs can stack several operations like code deployments and pipelines. He moved on to say that, keeping in view all these things, it appears that the on-chain AI bots dealing with the treasury accounts operating on-chain are becoming considerably famous.
The recent spike in the advancement of the applications developed on GPT-4 API of OpenAI. The crypto community is expressing a great interest in this technology with frequent discussions being made on a completely self-correcting and independent bot for crypto trading. A couple of such applications called “AutoGPT” and “BabyAGI” have been promoted to a great extent. In addition to this several consumers of these apps are attempting to develop crypto trading apps on top of the respective applications.
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The great idea at the back of these applications deals with GPT-4-related task management. At present, GPT-4 is making great progress in the case of processing the natural language as shown by the displayable effectiveness of the interface provided by ChatGPT. However, it does not have any memorization capacity.
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The GPT API-based applications are fundamentally restricted to single-session usage. This signifies that the model is unable to recall information from the former communications. On the other hand, AutoGPT utilizes GPT-4 for the generation of code as well as exploits GTP-3.5. In this way, it develops what seems to be an artificial digital memory space.
Moreover, BabyAGI attempts to combine GPT-4 and a coding agenda called LangChain and a vector database named Pinecone. With this, it spawns exclusive agents to accomplish complicated operations without being deprived of focus in the case of the innovative objective. Both of the above-mentioned applications could play the role of the crucial part of an AI application that can manage a crypto portfolio.