ChatGPT and other AIs could play a big role in driving more users to crypto

It’s no secret that bear markets are challenging. A quick scan of top projects of any past market cycle will unveil how many once-promising projects have faded into oblivion. While these cycles are often discouraging, many fail to realize that with every market downturn comes the opportunity for innovation toward a stronger future for Web3. Just look at Uniswap and OpenSea’s success to see how real the potential is for “building in a bear market” to spark new bullish cycles.

So, as we navigate the market climate, which is showing glimmers of hope for an upward trajectory, what innovations do we see on the horizon? At the top of the list sits artificial intelligence (AI) and its potential to take ?Web3 into its most valuable and exciting period of change, a new era that will unlock a goal we’ve been chasing since day dot: onboarding 1 billion users.

In what feels like an overnight period, AI has undoubtedly become the most exciting technological innovation since, well,

Moving to decentralized applications, AI can also significantly increase user engagement and adoption rate by analyzing the user’s on-chain data and recommending the best features and how to leverage them. AI can help users become the best possible traders, a virtual investment adviser with the most innovative tools.

And for developers, AI can even simplify their workflow by pre-auditing contracts, one of the biggest pain points for Web3 developers due to the amount of planning, time and cost it takes to audit smart contracts. Using AI as a pre-audit tool (and writing assistant) for smart contracts will enable a more streamlined operation for developers, saving valuable time and costs with the benefit of optimizations rolled into their product.

It all sounds pretty exciting. Whether you’re a developer looking to cut costs and time or a user looking to reduce what can be hours, days or years of learning necessary to understand the ins and outs of Web3, AI can remove the friction that’s amidst the greatest barrier of innovation and usability for our industry. Like Web3 overall, AI can be an additional layer to the ever-powerful toolkit that is revolutionizing how we create, chat, trade and live. Let’s use it as best we can as we build the future.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.