Since 2016, Blockchain has been the most prominent topic with crypto-related buzzwords like DeFi, Play-to-Earn, Web3, (not to mention hodl, buidl, and moon) thrown left and right. However, towards the end of 2022 there has been a major switch and headlines (plus recent LinkedIn converts) have been buzzing about artificial intelligence (AI) instead. Much of this recent hype is due to innovations from Midjourney (an artificial intelligence program that creates images from textual descriptions) and ChatGPT (an AI-powered chatbot created by OpenAI). These two technologies are indeed mind-blowing and worth trying. These generative AI platforms open up new possibilities that one previously could not even fathom and the fact that so much is yet to be implemented remains a surprise to everyone. An important question is how we can utilize AI to enhance blockchain. Combined, these two technologies can create powerful new solutions in various industries.
First, let’s dive into Midjourney and ChatGPT and showcase what they are capable of.
Midjourney
To try Midjourney, you first need to download the popular chat app Discord which it uses to create and deliver the artwork. This makes the user experience unique and may or may not be to your liking depending on your relationship with Discord. Discord, which gained popularity from gamers looking to chat while gaming is also home to blockchain enthusiasts that will also be familiar with the app as most crypto/NFT projects create a social home on the platform. If you’re NFT hunting, it’s easy to get lost in a Discord rabbit hole. Nevertheless, the experience using Discord for Midjourney is reasonably smooth. After subscribing, you can have a direct chat where you can generate prompts privately and avoid having to scroll endlessly to find your artwork in the public rooms.
Midjourney Prompt: Blockchain and artificial intelligence collide
The above images were generated using Midjourney with the prompt; blockchain and artificial intelligence collide. The quality of Midjourney’s outputs is so visually impressive that many have been wondering whether AI will eventually replace artists. However, in an interview with Forbes, Founder, and CEO of Midjourney, David Holz stated:
I think that some people will try to cut artists out. They will try to make something similar at a lower cost, and I think they will fail in the market. I think the market will go towards higher quality, more creativity, and vastly more sophisticated, diverse and deep content. And the people who actually are able to use like the artists and use the tools to do that are the ones who are going to win.
Holz further emphasized that Midjourney is more about imagination than art. With that said, many AI artists have become popular on social media platforms like Instagram, some are public about the means of their creations while others prefer to be discreet. A Midjourney creation recently won first place at an art show, causing controversy. In regards to its potential applications with blockchain, Midjourney has also been used to create AI-generated NFT collections and we can expect more collaborations between AI artwork and NFTs in the future. One day we may see a generative art platform that has a 10,000 image generator feature specifically designed for NFTs so there is consistency throughout a collection.
ChatGPT
ChatGPT recently shocked the world by passing the University of Pennsylvania’s Wharton School’s final exam for the school's Master of Business Administration (MBA) program.
Professor Christian Terwiesch, who authored the research paper "Would ChatGPT3 Get a Wharton MBA? A Prediction Based on Its Performance in the Operations Management Course," said that the bot scored a B on the exam. That is truly impressive and it makes one question the future of education. In fact, how would ChatGPT write this article? Let’s find out.
Results from the search of ChatGPT
From the image above, it is clear that ChatGPT itself understands and acknowledges the benefits of combining AI and blockchain technology. Interestingly, ChatGPT is even concerned about biases and it being tampered with! Use cases for ChatGPT are endless and the success so far has convinced Microsoft to invest $10 billion in ChatGPT’s maker OpenAI.
This innovative pairing of AI and blockchain technology has the potential to upend a variety of industries, from finance to healthcare. By combining AI's powerful computing capabilities with blockchain's secure data storage, we can create an entirely new type of system that will have far-reaching implications for our lives. At its core, this combination allows us to make decisions based on vast amounts of data while ensuring that all transactions are secure and immutable.
The efficiency that can be achieved through the error-preventing and error-detecting features of AI and the power of smart contracts can also truly refine industries like blockchain. While ChatGPT was not specifically designed to help blockchain, coders and builders have been using it successfully to improve their code and identify errors.
Conclusion
AI and blockchain technology is a powerful combination that will inevitably change how we live, learn, and work. Using AI in the blockchain industry can create more secure, efficient, and accurate smart contracts. AI can also help with our imagination, transforming the creative process but not replacing it fully. As technology continues to evolve, we can expect to see more integration between AI and blockchain.