Fetch.ai (FET) CEO: This Is The Next Big Thing!

In the months since ChatGPT was first introduced to the world, feelings of admiration and anxiety for the field of artificial intelligence (AI) have come together. The blockchain ecosystem responded to the AI ​​revolution with a spike in AI token prices, but after the first wave, many of these tokens saw sharp corrections as investors now seek to find the essence beyond excitement. For this reason, the future of artificial intelligence and Blockchain began to be wondered. In this article, we will include the latest comments from the founder of Fetch.ai (FET), one of the popular artificial intelligence projects. Here are the details…

FET CEO talks about uses of artificial intelligence

Humayan Sheikh, the founder and CEO of Fetch.ai (FET), gave an interview recently. There are numerous applications for AI when it comes to blockchain technology, such as AI in finance, where it can be “trained on economic data to improve decision making and detect trends or anomalies,” Sheikh said. He said blockchain developers are also starting to resort to artificial intelligence to create smart contracts.

Sheikh said that with Fetch.ai in particular, artificial intelligence has proven to help projects improve Web3 tools through the addition of major language models to the Fetch.ai wallet. “Wallet users can now enter text in the chat area to call up information on the wallet. “The utility and user experience can be greatly enhanced with AI, and we will continue to explore in-wallet integrations.” According to the CEO, future developments will focus on methods such as the ability for users to issue a verbal command such as “send eighty dollars to John”.

Other applications, according to Sheikh, include the creation of AI-trained autonomous agents that can “learn and predict what useful economic work the user needs and act on those learnings with minimal or no intervention.” According to the CEO, “AI-based agents will then become a kind of personal assistant that can take the hassle out of daily life.”

How do services like ChatGPT benefit Blockchain?

As for how blockchain platforms can leverage services like ChatGPT, one of the primary use cases cited by Sheikh is task automation. “Language models like ChatGPT can be used to understand and interpret input and then be used with technologies like Fetch.ai to execute a response. This may be simple. It can also be extremely complex,” he says.

He added that the concept of how major language models and machine learning can improve products and services has been explored by a wide range of projects, from Blockchain-based games to DeFi applications and voting and governance in decentralized autonomous organizations (DAOs).

What will be the next big thing?

When asked what he sees as the next major development that will emerge from the combination of blockchain and artificial intelligence, Sheikh said it will be the “development of autonomous systems that can operate in decentralized networks.” Another promising area is the integration of artificial intelligence with Web3. Sheikh said the following about these two issues:

These systems can take advantage of the transparency and security of Blockchain to make automated decisions, process transactions, and perform complex tasks without the need for intermediaries or centralized control. This can yield significant gains in efficiency, particularly in areas such as supply chain management, finance and logistics. AI has the potential to create new, decentralized applications that are more secure and transparent than traditional applications. By integrating artificial intelligence with Web3, it will be possible to create smart, autonomous applications that can operate independently without the need for human intervention. AI-powered analytics tools running on blockchain networks are also a possibility. The combination of blockchain and artificial intelligence could usher in a new era of autonomous, decentralized systems that provide greater efficiency, security and transparency across a wide range of industries.

FET CEO opposes critics of AI tokens

Sheikh pointed out that AI and brokerage technology is maturing, arguing against critics who say the recent gains in AI-related tokens are purely based on excitement. “We are coming out of an R&D phase and starting to uncover working technology. We are particularly interested in these reasons as potential applications in the fields of supply chain management and energy distribution.” The CEO of Fetch.ai (FET) cited the platform’s intermediary technology as one of the most promising applications to date. “We believe there is tremendous potential for this technology to transform various industries and create more efficient, decentralized systems,” he said.

cryptocoin.com As we have reported, Fetch (FET) plans to release a new broker-based DEX for peer-to-peer trading in the coming days that solves some of the key issues of DeFi users, such as hacking concerns. Sheikh said the biggest threat to platforms using both artificial intelligence and Blockchain technology is hackers. This forces projects to stay up to date on due diligence on issues such as robust security measures and regular smart contract audits.

There are also AI-focused concerns that are starting to gain attention in mainstream news, such as legal issues surrounding intellectual property. “These are big issues in and of themselves and we cannot address them – but they need to be carefully considered. Blockchain and artificial intelligence are extremely powerful technologies, and taken together they have the potential to radically change the way we run our lives and business. “Artificial intelligence and blockchain can interact as part of a technological device that will continue to shape the future of communications.”

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