Artificial Intelligence has been very
much in the news lately, and
it seems that every day we hear about new amazing things that can be done with
this technology. Yet with great power come great challenges. There are
currently legal questions regarding A.I. content, that once sorted out, will
open up brave new venues for using it, particularly in the crypto sector.
In Europe, an early EU agreement that may pave
the way for the first comprehensive legislation controlling the technology
requires companies using generative AI tools, such as ChatGPT, to report any
copyrighted content used to construct their systems.
Nearly two years ago, the European Commission
started drafting the AI Act to regulate the rapidly developing field of
Artificial Intelligence, which saw a surge in interest and investment after
OpenAI's AI-powered chatbot ChatGPT was made available.
Members of the European Parliament decided to
continue to the next stage, named "the trilogue", where EU
legislators and member states will work out the bill's final features.
The legislation is attempting to rank AI tools
from low to limited, high, and unacceptable in terms of perceived danger. At
stake are concerns regarding disseminating false information, biometric
monitoring or using language that is biased
Legal Controversies in the U.S.
Europe is not the only place where Generative AI is stirring
legal controversy. The question of whether A.I. can apply for and be granted
patents for generating content has been recently put to test in America's law
courts, when a case was brought that sought to have an artificial intelligence
system named as the inventor on a patent.
The US Supreme Court refused to hear the case,
which may appear to have laid to rest the controversial idea that could have transformed
the intellectual property field. However, things are far from being settled on
the matter and it has done nothing to calm growing worries that AI is
threatening to upend other aspects of intellectual property law.
Though known mainly from OpenAI’s ChatGPT, the
same technology is already being used to design semiconductors and suggest
ideas for new molecules that might form the basis of useful drugs.
For now, such uses of AI do not appear to pose
a serious challenge to the patent system since the technology is being used as
a tool to help humans shape ideas rather than operating independently, said
Chris Morgan, an IP partner at law firm Reed Smith.
However, referring to the possibility that AI
systems might one day come up with inventions on their own, she added:
Even before that stage is reached, she and other legal experts
warned that systems such as ChatGPT could be used to churn out large numbers of
new patent applications, flooding the patent office with claims in the hopes of
scoring a big win.
How Generative AI will Affect the Crypto
World
Portfolio
management for digital assets is an area where Generative
AI is expected to have a big impact. The growth of digital assets is increasing
the complexity of managing a portfolio. To automate the process, generative AI
studies market trends, generates estimates, and places trades. It will also be
simpler for non-professional people to monitor their assets and manage their
portfolios since the industry will continue to develop.
The creation of new digital assets is
another area that's likely to have a major impact from Generative AI. It can
make it easier to automatically build customized digital assets as technology
develops. This could have a significant impact on the market since there will
be an unprecedented amount of fresh cryptocurrency production, which will
make the climate for token initiatives much more competitive.
AI and dApps
Another sector where generative AI is anticipated to have a
significant impact is the development of new Decentralized Apps (dApps).
Decentralized Apps are gaining popularity as consumers want for improved asset
and data security and management. But right now, developing dApps is difficult
and time-consuming. By autonomously producing code based on a set of inputs,
generative AI might streamline this procedure, making the creation of dApps more
simpler and faster.
"An image is worth 1000 words"
The generation of images related to crypto is already having an
impact. These images are being used for marketing purposes and powerful
motivators for investing in certain projects. They can also be used to infuse
"life" into what may otherwise be perceived as overly technical
descriptions, and thus showcase powerful crypto tech in a powerful new light.
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