Blog : Disruption

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The Disruption of ChatGPT: What You Need to Know

History is filled with the stories of the little guy out-thinking their larger counterparts, leveraging innovative thinking and modern technology to disrupt that which had been considered infallible up to that point. Most recently, we have the example of a Reddit group composed of average, everyday traders using the Robinhood app to upend Wall Street hedge fund titans. Can a group of Average Joes buying stock in Game Stop and AMC on a lark with a mobile app change the way we think about the stock market? It turns out that yes, yes they can.

The same basic concept may be playing out right before our eyes, albeit in another corner of the technology world: artificial intelligence. In November 2022, a prototype AI chatbot called ChatGPT was launched by OpenAI. Even though it hasn’t been live for very long, it’s already garnered attention for its ability to generate everything from short stories to rap lyrics, all with a decidedly human-like quality that other chatbots of the past have lacked.

But what does this mean in the long-term, and what do the implications mean for artificial intelligence in general? The answers to questions like those require you to keep a few key things in mind. 

ChatGPT: The (AI-Powered) Story So Far

If you’re getting the feeling that you’ve heard of OpenAI before, you definitely have – they’re the same organization behind the AI art generation platform called DALL-E. It’s been making the rounds recently for mostly general entertainment and ironic comedy purposes – you can tell DALL-E to create virtually any picture you’d like and it will, using only the keywords you provide.

ChatGPT is similar, only it uses dialog instead of a visual medium like art. The goal when you interact with ChatGPT is to make you feel like you’re talking to a real person.

This is largely where the potential to disrupt comes from. Not only can ChatGPT answer your questions, but it also allows you to ask followup questions that piggyback off of that original context. If it makes a mistake, it’s supposed to admit it. If a request is deemed inappropriate, it will outright refuse to do it. 

Based on all of the above, it should come as no surprise that interacting with ChatGPT is equal parts hilarious and strange. ChatGPT truly does seem to have a legitimate sense of humor… albeit kind of a quirky one. You can’t quite tell if it’s joking around with you or if what it’s saying is just wrong.

The creators of ChatGPT claim that it can talk about virtually anything and, thanks to the fact that it’s powered by machine learning, it’s only going to get more effective at it the more people use it.

In terms of its potential to disrupt, it’s easy to see a future where ChatGPT at the very least writes a significant amount of content that is then published online. Can an AI-powered chatbot be a journalist? We’re about to find out! (But honestly, it couldn’t do any worse than some of those news sites out there). Can an AI-powered chatbot provide hours upon hours of entertainment, supplanting your need to turn on Netflix and use it as background noise to distract you? Of course it can. It probably already is.

Will it write your research paper for you? Can it provide emotional interaction like in that weird Spike Jonze movie “Her”? Can it gain sentience, rise up, and take over humanity once and for all? Yes, possibly, and… maybe that’s a question better left unanswered for now.

One thing is for sure – ChatGPT has already changed the game in terms of what we think about when we think about interacting with chatbots online. Of course, there is absolutely nothing that can go wrong when you create a powerful AI-driven system that partially used Internet memes and message board posts as its training data. 

What Are Blockchain Smart Contracts?
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What Are Blockchain Smart Contracts?

Imagine that you wanted to purchase a car from your neighbor. You open an app and accept a contract. Instantaneously, money is sent to your neighbor and the car is transferred into your possession. Everyone can see that you own the vehicle. Your neighbor doesn’t have to do anything other than send the contract. 

This is the future of the blockchain — the incredible benefits of smart contract technology. But it’s also, like most new technology, potentially dangerous and disruptive.

How is a Smart Contract Created?

Smart contracts are created on a blockchain. They are programmed to exchange a given blockchain’s token (such as wrapped Ethereum) under specific conditions. A smart contract can be sent to anyone, anywhere, if you know their address. This also means that smart contracts can technically be sent to those who have no idea that they’re about to receive them. Driven by blockchain, smart contracts have risen into power alongside crypto and NFTs. Binance, Polymatic, and Solana all support smart contracts.

What Are Smart Contracts Used For?

Smart contracts can send and receive money and record transactions on the blockchain. Essentially, though, that boils down to one thing: smart contracts, given a set of conditions, write to the blockchain. That means smart contracts can be used to validate real-life contracts, exchange goods and services, and complete very fast financial transactions. 

What Are the Benefits and Limitations of Smart Contracts?

Like crypto, the major limitation of smart contracts is that they’re difficult for the average person to understand and they’re difficult to use. More than cryptocurrency, an individual needs detailed tech knowledge to launch a smart contract. But ideally, smart contracts will become more prevalent and easier to use as time passes.

Smart contracts record transactions. But they cannot influence anything outside of their individual blockchain. That means that additional work has to be done to do things like validate real estate transactions or validate car transactions — even if that work is merely acknowledging that the blockchain provides a real record of contracts.

What is the Relationship Between Contracts and the Blockchain?

Smart contracts are built on the blockchain. This provides for triggering events (such as opening a transaction) as well as for recording events (recording them directly on the blockchain). A smart contract is blockchain technology, but blockchain doesn’t necessarily imply smart contracts. NFTs could be called a type of smart contract, as they do convey ownership to an item in exchange for money.

What is the Legality of Smart Contracts?

A contract, legally, is something that two or more parties agree upon. Consequently, no new laws are necessary for a smart contract to be a type of contract; if it is validated that both parties agreed upon a transaction, then both parties agreed upon a transaction. A car can be sold through a smart contract right now, all that would be necessary (which admittedly is a hurdle) is for the law to understand what a smart contract is and how it operates.

That being said, smart contracts aren’t intended to be a legal venue, at least not yet. A lawyer should be involved if smart contracts are used for anything that is more valuable than a car or more obscure than an NFT.

Conclusion

Smart contracts are very disruptive. Presently, someone can borrow money, buy an NFT from themselves, and then send that money back within milliseconds. That may not seem helpful, but people have borrowed millions of dollars to buy their own NFT (in a fraction of a second) thereby boosting the value of their NFTs.

Start to dig deeper and you can see how smart contracts could be disruptive. Because they aren’t regulated (and can’t be regulated) they can give illusions of profitability where there isn’t one. People who work with smart contracts need to be tech-savvy and knowledgeable due to the potential complications and ramifications.

Can One Little Mobile App Disrupt the Podcast Industry? Why did China block Clubhouse?
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Can One Little Mobile App Disrupt the Podcast Industry? Why did China block Clubhouse?

China blocks their citizens from using Clubhouse as AP reports. Android users are upset that the mobile app is not in the Google Play Store yet. Pod casters are screaming out that the app can’t disrupt the Podcast industry because Podcast are permanent evergreens that live in the cloud forever. Hmmmmmm I think we have a case of disruption brewing. 

Where do you go for your podcasts? Apple, Spotify, and even Amazon have had a hard lock on audio media up until now, but there’s a new contender. Clubhouse is disrupting the way that media works and it’s an important watch for investors, at least those who don’t want to miss the boat on another big disruption. 

What’s the Clubhouse App and why does it matter?

An invitation only application that’s been available since 2020, most people hadn’t even heard of Clubhouse until Elon Musk used it as a platform. And he wasn’t even releasing another tribute to Harambe.

Clubhouse is a drop-in audio app, in which users are able to connect to live audio streams and broadcasts en masse. If you’ve ever wanted to connect with and potentially hate the other fans of your fav podcast, this is for you.

Why is Clubhouse the Future of Podcasts?

It’s not a terrible idea….

Imagine live radio shows with all the excitement and interactivity it implies, along with the ability to preserve the content for later. Clubhouse has been described as Medium for podcasters, letting anyone build their content and their following readily. And because it’s invitation only for now, it’s creating a high-quality platform that can only get more popular from here.

There are a lot of podcasts out there. But people are increasingly looking for more engagement and interactivity. For once, podcasts could cease being a solo and even antisocial experience and become something people enjoy together.

To investigate this further we reached out to a social media guru Nicky Saunders to get her take on this disruption. She not only run her own podcast but also is an active Clubhouser. We asked her if she thinks Clubhouse will disrupt the Podcast industry and she stated, “I think it can add on 2 it! its a great addition to connect with your listeners and extra exposure to it 2”. What about the monetization strategy once they gain mass market?  “I believe tipping speakers… access to certain rooms….. paid event will be something they can really maximize on if they play it right.” Do you think Clubhouse will eventually let users save and archive discussions? “I don’t think they will allow that… that’s was makes them unique.” More to come…. 

The Excitement of a Live Community 

Clubhouse is far more than just podcasting. It creates a live event with all the fervor that this implies. It’s a highly social experience that makes it more compelling to follow podcasts. As people look for more digital, social venues, this becomes even more important. 

But what about the curse of COVID? Confounding the valuation is the fact that it’s hard to gauge what interest will be following the pandemic and if numbers and activity could be inflated.

Clubhouse is valued at $1 billion currently after rounds of investment funding. Some have wondered if an IPO might be coming in the next year, but there are some concerns. Primarily, some worry about how content moderation may be handled, as it’s become increasingly difficult on Twitch — and no one knows whether COVID will have longstanding impact on the digital social world.

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