“Blockchain Needs a ‘ChatGPT Moment'”
Microsoft ( MSFT ) CEO Satya Nadella told attendees at this year’s World Economic Forum in Davos on Tuesday that he believes in blockchain, web3 and metaverse innovations, but feels the sector needs a “ChatGPT moment”.
“Blockchain is a technology that has a set of use cases, we at Microsoft support it today. A distributed database is a good thing, it has its uses.
“All three of these things, web3, blockchain and the metaverse, are all going to happen.
“But you have to have the killer apps, what’s the use case that gets broad adoption, what’s the ChatGPT moment for blockchain?”
The artificial intelligence (AI) tool ChatGPT was launched in November 2022 and has since amassed over a million users.
Read more: ChatGPT: three steps to master this AI tool
This is a leap into mass adoption that took social media platform Facebook ( META ) 10 months and streaming platform Netflix ( NFLX ) three years to match.
The new application’s agility in capturing mass appeal has surpassed the more slowly developing blockchain industry that began in earnest when Satoshi Nakamoto published the bitcoin (BTC-USD) white paper in 2008.
ChatGPT has eclipsed web3 as the most important tech buzzword in 2023. But as the year progresses, it remains to be seen whether it will be as disruptive to our personal and professional lives as has been predicted.
Microsoft is going all in on ChatGPT, an artificial intelligence (AI) technology that could power a new search engine that could disrupt the dominance of Google ( GOOG ).
News site Semafor reported on Tuesday that Microsoft is investing $10bn (£8.2bn) in OpenAI, the artificial intelligence firm behind ChatGPT.
This would value the San Francisco-based firm at $29 billion, and industry analysts say Google should keep a close eye on the deal.
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What is ChatGPT?
Trained on a massive data set, ChatGPT has been described as one of the most powerful language processing models ever created.
It is a highly articulate artificial intelligence application that can write computer code as well as various types of text from haiku to jokes, corporate emails, business plans, academic essays and even original fiction in the style of any author you want, from Joyce and Dostoevsky to Shakespeare.
Read more: ChatGPT: What you need to know about the most talked about AI tool
What sets it apart from previous AI chat tools is how it can respond to user requests in natural-sounding language, responses that could easily be mistaken for a chat with a real human.
ChatGPT uses a combination of natural language processing, machine learning and graph theory to measure a chatbot’s ability to understand and accurately respond to customer inquiries.
