ChatGPT urges crypto conference panel not to become too reliant on AI

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Sunday March 19, 2023 1:11 p.m.

Pictured (left to right): Ray Patterson, Amila Dissanayake, Cynthia Campbell, Nick Merritt and Ganesh Viswanath Natraj.

ChatGPT said at a blockchain conference that humans shouldn’t become too reliant on AI or else our critical thinking and judgment will be eroded.

The generative AI chatbot developed by OpenAI was a panelist at the Gillmore Center of Financial Technologys conference at Warwick Business School to discuss cryptocurrencies and the role of AI in society.

Nick Merritt of metaverse platform Vault Hill, Cynthia Campbell of Canada’s Alberta Securities Commission, Amila Dissanayake of crypto analytics firm Chainalysis, Ganesh Viswanath Natraj of Gillmore Center of Financial Technology, and Ray Patterson of the University of Calgary.

When asked if people trust technological advancements too much, ChatGPT told the digital currency conference, Frontiers of AI and fintech: AI is only as good as data and the algorithms on which it is built, which may be biased, faulty or manipulated. Meanwhile, blockchain networks, while inherently secure, are not immune to vulnerabilities.

Our reliance on these technologies can inadvertently erode human judgment, critical thinking, and the ability to question or challenge the status quo.

By placing too much faith in AI and blockchain, we risk creating a society that is too dependent on technology, susceptible to manipulation and disengagement from ethical considerations.

The panel explained how society now trusts technology more than its peers, although Professor Paterson argued that the state will always have a role to play.

ChatGPT, meanwhile, advocated for humans and AI technology to work together.

The challenge is to find a balance between human judgment and technological efficiency, recognizing that neither is foolproof and that collaboration between the two can yield the strongest results, he told the audience.

Mr. Merritt was adamant that society should not rely on governments to protect cryptocurrencies, and ChatGPT agreed that would be ironic because cryptocurrencies were born to challenge centralized control.

However, with the growing adoption of digital assets, some regulation is inevitable,” the chatbot added.

“Finding a balance between maintaining the decentralized spirit of cryptocurrencies and ensuring investor protection is the real challenge. Navigating this delicate balance is crucial to the future of crypto and traditional finance.

The conference saw talks on DeFi and centralized finance from Anastasia Melanchrinos of cryptocurrency market data firm Kaiko, on crypto derivatives by Block Scholes analytics platform founder Eammon Gashier , and the Growing Metaverse Industry by Mr. Merritt.

While Amit Chaudhary of DeFi app builder Polygon researched DeFi liquidations in depth, and Tarleton Watkins of USDC stablecoin maker Circle talked about the prudential environment for digital currencies in light of the company successfully shifting its $3.3 billion in cash. out of the collapse of Silicon Valley Bank.

Ram Gopal, Academic Director of the Gillmore Center of Financial Technology, said: The panel discussion with ChatGPT was a great success and brought a new dimension to the conference.

Generative AI is in its infancy, but it has the potential to change the way we work, research, study, and live in so many ways that we’re only scratching the surface of its capabilities.

The conference showed the innovation and ingenuity at the heart of fintech and digital currencies, and how academic research centers like ours can play a vital role in this exciting sector.

The Gillmore Center will be at the heart of this new world, creating a place where researchers, decision makers, industry leaders and technology entrepreneurs will come together and explore new opportunities and ideas.

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