AI and blockchain have a symbiotic relationship, says Animoca Brands CEO.
Artificial intelligence (AI) is currently a widely-discussed topic in various fields, including the emerging tech industry, due to the growing popularity of OpenAI’s chatbot ChatGPT and others. During the Proof of Talk 2023 blockchain and Web3 conference in Paris, Cointelegraph interviewed Robbie Yung, the CEO of Animoca Brands, to explore how AI, blockchain, and gaming are related.
Yung stated that Animoca had been working with AI for a long time, incubating AI companies, and using it in game development. He explained that, for art teams, generative AI could significantly increase productivity and development.
“Generative art has the potential to dramatically increase the productivity of art teams. It’s like giving farmers tractors instead of horses.”
AI has found widespread use in the gaming industry. On May 29, Nvidia announced Nvidia ACE for Games, a new suite of AI tools. These tools use AI to give nonplayer characters (NPCs), also known as background players in games, more character capabilities.
According to Yung, AI integrations allow players to have a more interactive experience with the universe as it takes on a “life of its own.” When the game is blockchain-based, AI integration becomes even more relevant:
“AI has a very symbiotic relationship with what we do in blockchain. NPCs will actually become characters in a blockchain game, which means they will have transactions among each other.”
Yung believes that transactions between NPCs on a blockchain game will likely have to use crypto for transactions. He thinks that:
“Crypto will become the native currency of AI.”
If AI-enhanced games are able to create active and blockchain-based NPCs that are making transactions, he said it would be equivalent to having lots of employees that don’t sleep.
Yung also discussed the current limitations of AI, which are similar to those seen in the blockchain space, such as cost and power. “Like everything in tech,” he said, “it will come down quickly.”
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The AI and Web3 industries have been a major focus for regulators worldwide as these technologies become more widely used by mainstream users.
When asked about the implications of regulations on the gaming and metaverse industries that use emerging tech such as AI, blockchain, and cryptocurrencies, Yung said that he welcomes regulations for the sake of clarity.
“Clarity is what everybody’s after… It’s about being able to have an environment that’s more predictable because that’s conducive to investment.”
He explained that when investors have a clear understanding of the rules, they feel more comfortable investing in an industry with a lot of uncertainty.
“There’s a knock-on effect,” he said. “We get reluctant to invest; our shareholders get reluctant to invest in us, and so on. It’s not good for markets.”
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