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Generative AI: Legal Challenges and Opportunities in the Crypto World

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Artificial Intelligence has been very much in the news lately, and it seems that every day we hear about new amazing things that can be done with this technology. Yet with great power come great challenges. There are currently legal questions regarding A.I. content, that once sorted out, will open up brave new venues for using it, particularly in the crypto sector.

In Europe, an early EU agreement that may pave the way for the first comprehensive legislation controlling the technology requires companies using generative AI tools, such as ChatGPT, to report any copyrighted content used to construct their systems.

Nearly two years ago, the European Commission started drafting the AI Act to regulate the rapidly developing field of Artificial Intelligence, which saw a surge in interest and investment after OpenAI’s AI-powered chatbot ChatGPT was made available.

Members of the European Parliament decided to continue to the next stage, named “the trilogue”, where EU legislators and member states will work out the bill’s final features.

The legislation is attempting to rank AI tools from low to limited, high, and unacceptable in terms of perceived danger. At stake are concerns regarding disseminating false information, biometric monitoring or using language that is biased.

Legal Controversies in the U.S.

Europe is not the only place where Generative AI is stirring legal controversy. The question of whether A.I. can apply for and be granted patents for generating content has been recently put to test in America’s law courts, when a case was brought that sought to have an artificial intelligence system named as the inventor on a patent.

The US Supreme Court refused to hear the case, which may appear to have laid to rest the controversial idea that could have transformed the intellectual property field. However, things are far from being settled on the matter and it has done nothing to calm growing worries that AI is threatening to upend other aspects of intellectual property law.

Though known mainly from OpenAI’s ChatGPT, the same technology is already being used to design semiconductors and suggest ideas for new molecules that might form the basis of useful drugs.

For now, such uses of AI do not appear to pose a serious challenge to the patent system since the technology is being used as a tool to help humans shape ideas rather than operating independently, said Chris Morgan, an IP partner at law firm Reed Smith.

However, referring to the possibility that AI systems might one day come up with inventions on their own, she added: 

Our laws are not equipped, the way they’re written right now, to handle that scenario.

Even before that stage is reached, she and other legal experts warned that systems such as ChatGPT could be used to churn out large numbers of new patent applications, flooding the patent office with claims in the hopes of scoring a big win.

How Generative AI will Affect the Crypto World

Portfolio management for digital assets is an area where Generative AI is expected to have a big impact. The growth of digital assets is increasing the complexity of managing a portfolio. To automate the process, generative AI studies market trends, generates estimates, and places trades. It will also be simpler for non-professional people to monitor their assets and manage their portfolios since the industry will continue to develop.

The creation of new digital assets is another area that’s likely to have a major impact from Generative AI. It can make it easier to automatically build customized digital assets as technology develops. This could have a significant impact on the market since there will be an unprecedented amount of fresh cryptocurrency production, which will make the climate for token initiatives much more competitive.

AI and dApps

Another sector where generative AI is anticipated to have a significant impact is the development of new Decentralized Apps (dApps). Decentralized Apps are gaining popularity as consumers want for improved asset and data security and management. But right now, developing dApps is difficult and time-consuming. By autonomously producing code based on a set of inputs, generative AI might streamline this procedure, making the creation of dApps more simpler and faster.

“An image is worth 1000 words”

The generation of images related to crypto is already having an impact. These images are being used for marketing purposes and powerful motivators for investing in certain projects. They can also be used to infuse “life” into what may otherwise be perceived as overly technical descriptions, and thus showcase powerful crypto tech in a powerful new light.

Greater security

The introduction of generative AI could have a significant effect on the security of custodial solutions in Web3 and crypto. An ever increasing number of blockchain transactions raise the chance of fraud and hacking, but generative AI might reduce this risk by identifying and reducing security issues. So despite the increasing complexity of the crypto and Web3 world, A.I. would thus help safeguard users’ money and information.

AI Crypto Applications

A discussion on current A.I. trends would not be complete without the mention of a project that’s currently making the news. AiDoge (AI) is a text-to-meme A.I.-driven generator platform with which users can create new and relevant memes. It is currently in pre-sale which is presents an opportunity to get involved at a low cost, before the official launch.

As per the project’s site,

AiDoge’s generator uses cutting-edge AI algorithms to create contextually relevant memes, trained on extensive meme datasets and crypto news. This ensures high-quality, up-to-date memes.

Important elements include the text-based instructions, the AI-powered meme generator, and the native AI tokens for purchasing credits. AiDoge’s meme generator uses contemporary AI algorithms to create memes that are pertinent to the circumstance. This ensures that only the best and most recent memes are used.

The AiDoge ecosystem offers users the chance to stake AI tokens in order to access platform features and daily credit incentives. Staking is crucial for ongoing participation and platform stability. Users of AiDoge can read and upload AI-generated memes on the public wall.

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Visitors may explore memes on the wall using tools for filtering and categorizing them based on criteria like popularity, recency, or specific themes. They provide a modern approach to meme generating that makes use of cutting-edge AI technology, user-friendly suggestions, and a token-based credit system in order to modernize meme manufacturing and promote a thriving crypto community.

The AiDoge platform has generated one trillion AI tokens. 50%, or 500 billion, will be sold during the presale. The remaining 500 billion will be used for liquidity, exchange listing, vesting, and community awards. The leftover AI tokens from the AiDoge presale will be wiped out. As a result, the market capitalization will drop.

The earliest investors will receive the token for the lowest price of $0.000026. The cost continues rising as each step is sold out. After the presale, the AI token will be published at a price of $0.0000336 on both centralized and decentralized markets.

Consequently, stage one investors will immediately receive a 30% increase. The AiDoge presale accepts a variety of currencies. BNB, Tether, and Ethereum are all covered. Credit cards can be used by those without cryptocurrency to make purchases. Here is a buying guide for AI tokens.

AI Crypto Price Predictions

In the emerging A.I. field, there is one other new project undergoing a presale that can create wealth for early investors.

This Youtube is presented for informational only purposes. CryptoCaster does not endorse for purchase the presale token content aforementioned above by YPredict.

In order to provide a variety of AI-based analytical tools and platforms for traders of all stripes, yPredict has established an ecosystem that brings together financial quants, traders, and AI/ML specialists. According to the creators, these specially created tools may offer sophisticated analytics and insights by applying cutting-edge financial prediction techniques and metrics constructed from complementary data sources.

To help traders navigate today’s intricate financial markets, yPredict offers access to expert solutions and tactics. These difficulties include too much noise and a lack of statistical advantage, which frequently leads to poor decision-making. Many traders just use information from social media, such as news and popular opinion, or signals from dishonest suppliers. Trading choices may be made more intelligently and trading strategies can be optimized by using yPredict’s analytical tools and platforms.CRYPTOCASTER® - DECENTRALIZED FREEDOM!
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