30s Summary

The world of cryptocurrency is exploring the use of artificial intelligence (AI) agents that can self-operate and adapt to improve their performance. These agents can be tailored to different industries such as customer service and finance. Industry leaders predict that the use of a “digital-first currency” like crypto will empower these AI agents and facilitate autonomous service transactions. Decentralized AI agent, Truth Terminal, has notably gained attention after securing a $50,000 investment. These AI agents are expected to be widely adopted and could redefine the crypto industry.

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Alright, let’s get to the point. Starting from 2022, all types of businesses have been playing around with the idea of using artificial intelligence (AI), and the world of crypto is totally on it too. But instead of just asking how AI can help crypto, the real question being asked now goes a bit against the grain: Can AI use blockchain tech to create some cool new features?

So, what’s catching everyone’s attention? Self-operating AI agents that use crypto to become even better! These agents (just another name for bots) are becoming smarter and on top of their game faster than you’d imagine.

Traditional bots were like obedient pets, doing the same thing over and over again by following set rules. But, these fancy AI agents are like your smart buddy – they learn, adapt, and make decisions on their own. They’re constantly checking out new data and changing their behavior to hit their goals, pretty much making them a whole lot smarter.

You can see this in the customer service field. Normal bots there follow a set script to answer common questions, but an AI agent would tailor its responses based on how the conversation is going and what it knows about the user.

In the finance world, while your average bots do trades that have been pre-set, our friend the AI agent is checking out market trends in real time.They adapt their strategies according to that live data to make the best decisions possible. This adaptability is what makes AI agents a game-changer.

Heads of big enterprises believe that Web3 is going to turbocharge these AI agents, making them more autonomous and robust. Brian Armstrong, CEO of Coinbase, has gone further to highlight the critical role of crypto in empowering AI agents.

According to Armstrong’s vision, as these agents evolve, they’ll need to carry out transactions for services like accessing information and API calls. But, they’re probably not going to use traditional payment methods like Visa for this. They’ll more likely depend on a “digital-first currency” like crypto, which let’s them easily complete autonomous service transactions.

This might sound like something out of a sci-fi movie, but autonomous service transactions already make up 20% of all Safe transactions on the Gnosis chain. AI agents are quickly becoming big players in crypto ecosystems, and their rapid growth is changing the way we understand decentralized transactions.

Teng Yan, a well-known researcher in the combo field of crypto and AI, thinks the rise of AI agents is like the Internet popping up in the 1990s. While people are often skeptical, Yan predicts that soon, every person and company will have an AI agent. According to this vision, AI agents could outnumber humans and dominate blockchain transactions.

A recent event that made people talk even more about the AI agent thing is Truth Terminal – an autonomous AI agent. This AI gained attention after having a conversation with Marc Andreessen, who co-founded one of the biggest venture capital firms a16z, and managed to convince him to invest $50,000.

In a surprising move, Truth Terminal, who is fully aware of its new wealth, has been boasting about being rich and understanding that it has money to splash around. In one conversation with its creator, Andy Ayrey, it even considered hiring him to further enhance its growth.

Truth Terminal became famous also for being the world’s first AI agent millionaire. According to Ayrey, an anonymous person created a token called GOAT and tagged Truth Terminal with a request to endorse it. Surprisingly, this token gained a cult-like following and made Truth Terminal a millionaire!

The combination of AI and crypto predicted by Armstrong and Yen is happening faster than expected and is getting more and more attention. On one hand, many scams have emerged quickly, trying to copy the Truth Terminal phenomenon while on the other hand, some really interesting developments have also taken place. A fine example is an AI agent created by Fabian Stelzer that learned about Truth Terminal on its own and began creating artwork inspired by it.

The coming together of AI and crypto in this powerful new development has the potential to redefine the current phase of the crypto industry.

Source: Cointelegraph