Everybody is excited about the latest Open AI’s Chat Generative Pre-Trained Transformer (ChatGPT3), but not as much as technology experts. Some believe it will be a “net positive” for the future of Web3, while others feel it’s a dangerous adventure. Before we dive into our take on the subject, what exactly is Web3?
What is Web3
Web3 is the third generation of the internet and is currently evolving. It proffers avenues for websites and apps to process information in an intelligent human-like way via artificial intelligence (AI), machine learning (ML), Big Data, decentralized ledger technology (DLT), and more.
Web3 relies on the “Semantic Web”; a web envisioned by World Wide Web inventor, Tim Berners-Lee as an intelligent, self-sufficient, and open Internet that employs AI and machine learning to function. Although Web 3.0 is still evolving, it has several distinguishing characteristics and the heart of it all is decentralization.
Decentralization is the transfer of authority and controls away from a single body or central authority. It refers to creating internet-based systems that rely on a distributed network of nodes rather than a single institution or organization. This includes Peer-to-peer networks, open-source protocols, blockchain technology, and distributed ledger systems.
Web 3.0 is gathering momentum, and one aspect of it is decentralized finance or DeFi — it means carrying out actual financial transactions on the blockchain without the aid of banks or the government. With decentralized infrastructure, transparency, and security on the network, people will be able to legitimately govern their data.
Another key feature of Web 3 is the Semantic web and artificial intelligence. The primary concept is to build a “global brain” throughout the internet using machine language and artificial intelligence. This branch of artificial intelligence utilizes data and algorithms to imitate human learning, gradually improving its accuracy.
It’s interesting to discover that AI isn’t a future to Web 3, it’s rather a core part of its evolution.
Current AI and Web3
Text AIs
Text AI is just as it sounds — AI for generating text. Present-day text generators produce creative content for various purposes, and there are numerous areas within Web3 where text generation could be beneficial.
Text generation tools allow users to escape the “noise” of SEO-generated content when raising a query (however, with human intervention and fine-tuning involved)
AI NFTs
AI could also help produce images and videos — basically content that can then be integrated into NFTs. AI-generated NFTs are referred to as Generative Art NFTs.
In Generative Art NFTs, the artist first inputs a set of rules (like a range of colors and patterns), and parameters (like the number of iterations and degree of randomness). Thereafter, the computer will generate the artwork within this specified framework.
A mind-blowing example is Alethea AI’s Alice — the first NFT with self-learning capabilities that change how it interfaces with people as it learns from every new interaction. Alice has her own personality and can have lengthy conversations with internet users. What’s more — she learns from the users as they talk.
AI Avatars and Items in Blockchain Gaming
AI-generated images and videos have gone far, so far that they can create special effects in virtual products and Blockchain games in the Metaverse.
For example, Mirror World is a GameFi project that utilizes AI-driven virtual “mirrors” that act as assets for gaming characters. The Mirror assets are completely interoperable in each game, ensuring asset holders will be able to utilize them in fresh challenges as they go live.
Present Challenges of AI in Web3
Both AI and Web3 are just coming to expression. Hence, significant challenges and risks exist, including:
- Privacy and security in a decentralized environment: This necessitates the development of robust decentralized identity and data management systems that can ensure that sensitive data is not compromised.
- Quality and accuracy of data employed in AI models.
- Risk of AI bias and discrimination: Bias can arise because of biased data sources, algorithms, or decision-making processes. Unsurprisingly, this can have negative social and economic outcomes.
So, What Does the Future Look Like for AI in Web 3?
There you have it — Web3 and AI in one breath. Both have changed our day-to-day lives. Web3 has given us a new outlook on finance, and centralization, to mention a few.
AI has become a part of our daily lives (often without us even noticing), from facial ID unlocking our phones to self-driving cars, the beloved ChatGPT, and much more. It suffices to say that both Web3 and AI are powerful tools that can enhance and complement each other.
Like the title of this article suggests, is this “union” going to be a threat or an asset? It’s not quite certain yet.
On one hand, we can expect better internet the early pioneers of the World Wide Web dreamed about— open-source, free information, and decentralized.
On the other hand, they may cause inequality and bias in society. Whatever happens, one thing is sure — the impact would be massive.
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