How Crypto Developers Use ChatGPT to Develop New Products

In the year On November 6, OpenAI's first developer conference, DevDay, in San Francisco, marked a pivotal moment in the evolution of AI. The event showcased five products, including the ChatGPT-4 Turbo and Custom GPT models, that could reshape AI and impact the future of crypto.

In his keynote, Sam Altman emphasized OpenAI's commitment to making GPT a fundamental, user-friendly tool for AI product development. For example, the new GPT-3.5 Turbo 4K model offers discounted prices for input and output tokens, making it affordable and accessible for developers to build new cryptocurrency projects.

New ChatGPT to get the most out of crypto

OpenAI's new approach reflects the early Internet era's focus on user experience and reduced costs. So, in the future, like the Internet, AI will be a ubiquitous, affordable tool.

The company expects a similar approach to GPT by significantly reducing the barriers and costs of AI use, democratizing access to AI, and promoting broad participation. Particularly influential is the role of GPT in the cryptocurrency industry. Custom GPTs allow even non-technical individuals to create Web3 projects effortlessly.

For example, one can quickly set up a platform that directs users to the latest crypto airdrops. This includes going to “My GPTs”, customizing ChatGPT, enabling web browsing and deploying the project.

However, vigilance is important due to GPT's propensity for error, as reflected in the standard disclaimers of potential errors.

“GPT models are good at recognizing patterns, but if there is not enough data they will try their best to interpret and recreate the most likely pattern. With minimal data, it is possible to produce a wide variety of potential outcomes,” OpenAI highlights.

Read more: How to build your own personal AI Chatbot using the ChatGPT API

While MyGPT simplifies GPT-centric application development, more complex applications require additional functionality beyond the scope of GPT.

For example, integrating user analytics into a GPT-based application will require additional technical development. In such cases, it becomes more practical to incorporate GPT into existing crypto projects.

An example of this is developing SocialFi projects with GPT APIs, allowing the creation of unique avatars with distinct speech and emotional properties. Thus enhancing the user experience and effectively utilizing the capabilities of GPTs.

OpenAI's Devday ushered in a new era in the integration of AI and decentralized applications. Advances in AI tools such as GPT are set to bring unparalleled innovation and growth to the crypto market by breaking down barriers to use and finance as cost-effective tools.