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🏝 TheTechOasis, the only newsletter you need to stay ahead of the curve with AI & Crypto

Today we have ChatGPT's new killer feature & the $2 million stupid Crypto bet

As the audience is growing and I want to offer the best experience to you, we’ve moved into Beehiiv!

🤖 AI insight of the week - ChatGPT plugins are here to become essential in your life

It’s the announcement of the week in AI.

OpenAI has released a new feature for its flagship product, ChatGPT, to enable plugins.

But why should you immediately drop what you’re doing and pay close attention to what I’m about to tell you?

Simple, because it will solve most of ChatGPT’s shortcomings while becoming the new ‘App store’, the golden opportunity of this decade.

Pathological liars

ChatGPT and other LLMs suffer what’s described as ‘hallucination’ or ‘making stuff up’, as they aren’t capable of differentiating or understanding the concepts of truthfulness or falsehood.

Therefore, LLMs are quite unreliable in situations they haven’t seen in training.

Pathological liar. Source: Author with Diffusion model

In layman’s terms, as they predict their output based on past knowledge data, this obviously means that there’s a cutoff at some point in time.

For instance, GPT-4 is updated only up to 2021, so everything occurring afterward is not ‘known’.

Consequently, as we can’t continuously update our training data for the model for its obvious costs, what can we do to close this gap?

Well, here come ChatGPT plugins.

A new type of consumer-end product we’ve never seen

In a nutshell, ChatGPT will be capable of using plugins to enhance its answers and the overall experience of the user.

But what are plugins?

Plugins are pieces of software that allow ChatGPT to seamlessly leverage other pieces of software, doing things like:

  • Retrieving real-time information; e.g., sports scores, stock prices, the latest news, etc.

  • Retrieving knowledge-base information; e.g., company docs, personal notes, etc.

  • Performing actions on behalf of the user; e.g., booking a flight, ordering food, etc

Using OpenAI’s own analogy, they pretend to be ChatGPT’s “eyes and ears”.

Excitingly, to illustrate the new features, OpenAI is releasing a series of proprietary and third-party plugins.

Browsing, knowledge, & grocery shopping

From their side, they are releasing the following:

  1. Browsing plugin: This plugin allows ChatGPT to access and read information from the internet, expanding its knowledge base with up-to-date information. A new threat on Google?

  2. Code interpreter plugin: This is software that transforms human-readable Python instructions into machine-readable ones to execute them. You can think of this as a mini-computer embedded into the conversation, capable of executing complex functions and data analysis, or basically anything that can be represented with Python.

  3. Open-source retrieval plugin: This self-hosted solution allows users and companies to build a personalized repository of their data.

Besides these, companies like Instacart or Expedia are soon releasing their plugins too, allowing you to buy your groceries or your plane tickets to your next vacation using ChatGPT.

You can immediately think about the possibilities, but you can also watch these videos.

Hopefully, we will soon see a flourishing ecosystem of new plugins to use with ChatGPT.

The potential is so big that I feel it's comparable to the burst of economic value that the App Store created 15 years ago, with plenty of million-dollar chances for developers that understand the potential at hand.

👾AI news for the week👾

🤔 Bill Gate’s article ‘The Age of AI has Begun’ discusses the state of AI and how transcendental AI will be to our futures

👩🏽‍🦯 This video from Be My Eye’s new product with ChatGPT will leave you speechless… and also very happy

🤼‍♂️ Google releases Bard, finally opening access to users to Google’s rival to ChatGPT

👨🏼‍🏫 GitHub Copilot gets huge upgrade to ‘Copilot X’, which will be able to suggest improvements, correct bugs, and even offer voice support

🔁 Microsoft launches Loop, which will allow you to have your Word, Teams, Excel, etc docs in one unique, interactive, AI-powered workspace.

🔐 Crypto insight of the week - The $2 million Bitcoin bet

Someone has just bet $2 million that Bitcoin will be worth $1 million.

But the small nuance is that the bet’s maturity is 90 days. That is, that person will lose $2 million if Bitcoin isn’t worth $1 million in 90 days, a 3,600% increase from today’s average prices.

The bet seems one of the craziest takes in history, so what’s going on?

A chain of collapses?

Balaji Srinivasan is the ex-CTO for Coinbase, a rumored Bitcoin centimillionaire, and a person who became really famous for how well he predicted the impact of Covid-19 on our lives, making the term “Balaji was right” almost like a meme.

Now, he’s convinced that the world will crumble in 90 days.

And the reason for it can be explained with Silicon Valley Bank’s (SVB) collapse.

In a nutshell, SVB suffered a huge bank run, and the bank went insolvent when they had to sell T-bonds at a loss to honor client deposits.

But Balaji claims that hundreds of other banks have been insolvent for months and that this is just the tip of the iceberg.

Is Balaji right?

This potential apocalypse takes us to the great Bitcoin theory, “hyperbitcoinization”.

In this scenario, trust in fiat currencies disappears and, as fiat currencies rely on trust to derive their value, they crumble upon a new, more sustainable currency.

“The death of the dollar” Source: Author with Diffusion model

Obviously, the theory refers to Bitcoin.

But does it make sense?

Balaji argues that this will cement Bitcoin’s position as ‘digital gold’, but in my opinion that argument only makes sense if Bitcoin becomes a valuable asset for specific applications, like gold is.

For instance, as blockchains are the top technology to protect data integrity, I hope Bitcoin leverages the opportunity to become the tech to secure our most important data, like decentralized identity technology, that will allow people to safeguard their private data while surfing the Internet.

In my opinion, only then will Bitcoin become a truly valuable asset.

In the meantime, even though I love and own Bitcoin, let’s hope Balaji loses his bet, as another “Balaji was right” outcome would represent the death of the US dollar, a catastrophe to our world.

📉Crypto news for the week📈

🔑 A primer on composability and why elements like account abstraction are key to Crypto, with examples of projects enhancing composability in Crypto

🤫 A ‘new era’ starts with the release to general users of zkSync’s Era zkEVM, the first zero-knowledge tech in Crypto

📈 Gradually… then now. An insightful article about how recent banking failures imply a radical change coming to our lives… and to Bitcoin

💀 Greenpeace’s artwork intended to demonize Bitcoin has been adopted by Bitcoiners as a new mascot and meme

🤩 “What people call intelligence boils down to curiosity”

Ditch your credit cards, JP Morgan wants to allow you to pay with your face

No more credit cards? Source: Author with Diffusion model