OpenAI’s ChatGPT has garnered considerable attention in the ever-changing landscape of AI tools, leading Web3 enterprises to incorporate the technology for blockchain research. Alchemy, a prominent blockchain platform developer, has recently unveiled its latest initiative, AlchemyAI, which is a GPT-4 plugin designed for blockchain analysis.
Elan Halpern, the Product Manager at Alchemy, explained in an interview with Decrypt that their objective was to create a model using ChatGPT that is tailored to the needs of Web3 development.
According to Halpern, a plugin is a supplementary software component that enables the integration of other applications into ChatGPT. The AlchemyAI plugin is designed to interpret natural language inputs, such as “Display the latest block and its transactions,” and forward them to the Alchemy API, which subsequently presents the results in an easily understandable format.
Halpern explained that the AlchemyAI plugin enables real-time blockchain querying akin to a developer using the API and coding a script. However, the plugin facilitates this process through natural language and ordinary sentences.
Several other GPT-4 plugins are available for blockchain analysis, such as DeFiLlama, Sic, and CheckTheChain, while Solana Labs introduced its own ChatGPT plugin in May.
Halpern did not provide a specific date for the public release of the AlchemyAI suite; however, he mentioned that it comprises the ChatGPT plugin and a Chat Web3 AI assistant tool that supports developers during the programming phase.
Halpern likened the Chat Web3 AI assistant tool to a partner who is an expert in the Web3 domain, offering debugging assistance and answering queries. Alchemy, established in 2017, is frequently referred to as the blockchain equivalent of Amazon Web Services (AWS). The firm creates applications for various networks, such as Ethereum, Polygon, Arbitrum, and Optimism.
In February, Alchemy introduced an open-source developer platform, CW3D (Create Web3 Dapp), which enables the construction of decentralized applications. The company is now focusing on AI to leverage the technology’s capabilities in enhancing users’ comprehension of blockchain.
Halpern stated that OpenAI’s and the AI industry’s efforts are fundamentally enhancing users’ experiences. Typing a query into the chat and obtaining the answer without navigating through numerous links or referring to other sources is a more favorable experience than before.
Halpern expressed optimism regarding AI; however, she acknowledged its shortcomings, such as ChatGPT’s default information cut-off date of 2021 and the tendency of AI chatbots to fabricate facts, commonly referred to as “hallucinations” in the industry.
Halpern emphasized the significance of fact-checking and verifying information, stating that the technology is novel, and AlchemyAI will be transparent about the models on which they are training. This will enable users, particularly developers, to understand the source of the information and its limitations.
Halpern further stated that AI is transformative for everyone; however, it is crucial to verify the information provided by these systems, including those utilized by Alchemy.
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