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How will ChatGPT Impact the Web3 Space?

  • Experts talk about the growing emergence of ChatGPT.

  • ChatGPT is an artificial intelligence chatbot that can perform almost everything.

  • Experts believe that the technology will improve user experience.

19-Dec-2022 By: Ashish Sarswat
How will ChatGPT Imp

With ChatGPT's numerous potential, leaders in the Web3 field

Forecasted how the artificial intelligence (AI) tool developed by OpenAI will impact the industry.

Various CEOs shared their perspectives on how the new AI tool will impact the Web3 sector, ranging from deploying the bot for smart contract auditing to boosting user interactions with AI.

Dmitry Mishunin, CEO of HashEx, a smart contract auditing service, believes ChatGPT will have an impact on smart contract security. Mishunin told media outlets that the future is uncertain and can go either way. He went on to say:

“AI algorithms can become so deeply embedded in a niche that they simply stop enabling smart contracts to be deployed that have not passed verification.”

Mishunin believes that a result like this will be beneficial in the long run since it will greatly reduce the number of hacks, benefiting the entire sector. However, the CEO believes that things could go wrong in a dystopian fiction-like manner.

According to Mishunin, the AI might also act differently and autonomously exploit weaknesses and gaps to carry out the assaults. It will be able to learn and receive resources for continued development as a result of this.

On the other hand, XinFin senior adviser Doug Brooks believes that ChatGPT has the potential to be used in the development and testing of smart contracts. Brooks, on the other hand, argues that it would have little immediate influence. He told media outlets that:

“This might theoretically improve the efficiency and accuracy of the development process but it would necessarily not have a direct impact on the resulting smart contract.”

Despite this, the CEO feels the technology will improve user experience. Brooks noted that AI may be utilized to create a more intuitive approach for interacting, potentially increasing Web3 usage.

Meanwhile, Monica Oravcova, co-founder of cybersecurity firm Naoris Protocol, shared her thoughts on the subject. According to Oracova, in the short term, there may be an increase in breaches as AI exposes weaknesses that must be addressed. This will "illuminate areas where humans must improve." Oracova went on to say:

“AI is not the same as a human. It will overlook fundamental preconceptions, knowledge, and subtleties that only people see. It is a technology that will improve vulnerabilities that people have coded incorrectly.”

Despite this, Oracova believes that the AI chatbot will be a "net plus" for Web3. She continued, "It can be constructively utilized within an enterprise's security and development workflow, increasing the defense capabilities above the existing security standards.”

What are your thoughts on ChatGPT, an AI tool created by Open AI? Share your views in the comment section below.

Read also: Goldman Sachs To Invest Millions in Crypto Companies in 2023

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