AI in Blockchain: TurboToad’s Success & the Debate on Jobs, Bias, and Financial Impact

AI-driven blockchain revolution, Melbourne digital artist's success, ChatGPT tokenomics, Midjourney logo creation, futuristic artistic style, chiaroscuro lighting, contrasting hues, thought-provoking mood, job replacement debates, AI-written finance reports, Writers Guild strike, political bias concerns, 500% stock market return controversy.

In the fast-paced world of technology and blockchain, AI has enabled some incredible new advancements. One such example comes from Melbourne digital artist Rhett Mankind, who utilized ChatGPT to create a $100 million market cap coin called Turbo. Despite having no coding knowledge, ChatGPT developed the tokenomics behind “TurboToad,” and Mankind used Midjourney to create the logo. This achievement demonstrated that AI technology can allow anyone to launch a successful token, even without a team or extensive knowledge.

However, the rise of AI has also generated concerns. Prominent discussions question whether AI will eventually replace human jobs, specifically in the realm of writing. While AI does have the potential to replace “content mills” producing filler copy, the technology cannot yet produce creative, original content, or conduct interviews. Nevertheless, major websites like CNET, Bankrate, and AP have started using AI to generate finance reports, and the Writers Guild is striking against the use of AI content in Hollywood.

There is also an ongoing debate about the potential political bias of AI technology. Both Google’s Bard and OpenAI’s ChatGPT have faced accusations of leaning left in their content generation, perhaps due to being primarily fed information from well-educated urban professionals. These biases can be further compounded when fine-tuning the AI models through reinforcement learning with human feedback (RLHF), as the human feedback providers’ biases may be introduced.

Investigations into AI’s financial impact have also caused waves, with a University of Florida study claiming that ChatGPT achieved a 500% return on the stock market. However, critics have pointed out that only one of the six tested strategies generated that return, while others failed or generated losses.

In summary, AI’s potential benefits are undeniable, with the creation of tokens like Turbo and advancements in content generation. Nonetheless, concerns over job security, political bias, and financial risk remain central points of discussion in determining AI’s future impact on technology and blockchain.

Source: Cointelegraph

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