In the ever-changing landscape of AI tools, OpenAI‘s ChatGPT has been making a significant impact, catching the attention of Web3 companies for its potential use in blockchain exploration. Alchemy, a prominent blockchain platform developer, jumped at the opportunity and recently announced the launch of AlchemyAI, a GPT-4 plugin specifically designed for blockchain analysis.
AlchemyAI transforms user-friendly natural language inputs into specific requests sent to the Alchemy API, enabling real-time blockchain queries in a user-friendly format. Elan Halpern, Product Manager at Alchemy, revealed that this approach allows users to perform tasks typically associated with the API and coding scripts with an added convenience of natural language.
While Alchemy’s initiative is interesting, it is not alone in the space. Other GPT-4 plugins for blockchain analysis, such as DeFiLlama, Sic, and CheckTheChain, already exist. Solana Labs also previously launched its ChatGPT plugin in May. Though a public launch date for AlchemyAI’s entire suite remains uncertain, Halpern disclosed that it would include the ChatGPT plugin and an AI assistant tool called Chat Web3, which aims to help developers during the programming process.
Alchemy has been compared to Amazon Web Services (AWS) in terms of its position in the blockchain realm, building applications across multiple networks like Ethereum, Polygon, Arbitrum, and Optimism. The company’s focus now turns to AI, intending to improve user understanding of blockchain technology. Alchemy’s belief is that the potential of AI and OpenAI’s advancements can drastically enhance user experiences, eliminating the need to search through countless sources of information.
However, Halpern acknowledges that AI is not foolproof and highlights some limitations in the technology, such as ChatGPT’s default information cut-off date of 2021 and its propensity to “hallucinate” or make up facts occasionally. Halpern has advised users to exercise caution, fact-check, and double-check the information provided. She also stated the importance of transparency in their models, clarifying the limitations and how users, especially developers, can be well-informed about the origins of the information and potential drawbacks.
Despite these caveats, Halpern remains optimistic about AI, asserting that it is a game-changer for everyone. However, ensuring the accuracy of information provided by AI tools, such as AlchemyAI’s suite, is critical for the users to fully benefit from the technology. Only time will tell if AlchemyAI’s GPT-4 plugin for blockchain analysis will revolutionize how users interact with and understand the complex world of blockchain technology.
Source: Decrypt
