The crypto industry has braced for the launch of Sam Altman’s OpenAI’s GPT-4, an upgrade to GPT-3 and third-generation artificial intelligence engine. GPT-3 was responsible for the success of ChatGPT, a platform that gained millions of users and massive media coverage. Leveraging GPT-3, Altman managed to raise $10 billion for OpenAI and the company skyrocketed to become the world’s largest AI company.
The crypto space reacted positively to the launch, with digital asset enthusiasts keenly experimenting with GPT-4’s art tools and other functions. Amidst this flurry of excitement and possibility, several members of the crypto community sounded the warning bells; particularly in the case of DeFi platforms and the hugely popular but risky flash loan attacks. This cautionary tale was realized when Euler Finance suffered a devastating $197 million hack, where a malicious act against the DeFi platform was able to siphon off its reserves.
OpenAI’s GPT-4 will surely have far-reaching implications across the crypto ecosystem. This can already be seen in the way it has influenced NFTs, blockchain experimentation, coding tools, security and other cryptographic initiatives. Thus, the entire crypto industry is watching and anticipating the impact of GPT-4 and how it will shape the world of digital assets.
OpenAI is a prominent tech firm specializing in research and development of Artificial Intelligence. Founded by tech luminary Sam Altman and other renowned AI experts such as Ilya Sutskever and Greg Brockman, the company seeks to use artificial intelligence to solve hard, real-world problems and has a vision to “advance digital intelligence in the way that is most likely to benefit humanity as a whole, unconstrained by a need to generate financial returns”.
Sam Altman is a Silicon Valley figure and the currently President of OpenAI. Apart from heading OpenAI, he was the former President of startup accelerator Y Combinator (YC) and is currently a Board Partner of venture capital fund Andreessen Horowitz. He has a history of taking innovative but risky steps to revolutionize the tech sector and has a stellar track record of making investments in the likes of Airbnb, CoinList, Coinbase, and Stripe. Through OpenAI, Altman hopes to use artificial intelligence in positive and ethical ways that “benefit humanity as a whole”.
