The founder of Cardano (ADA), Charles Hoskinson, spoke recently spoke out on his own Youtube channel about the problem of artificial intelligence (AI) and crypto fraud. The American pointed in particular to Nvidia, which recently gave a groundbreaking demo about generative AI.
What is Generative AI?
Generative AI refers to systems that can create new content. This content can range from written text to images, music and videos. Generative AI systems learn to recognize patterns in data and then create something new that is based on those patterns but is unique in itself.
A well-known and recent example of this is ChatGPT. However, Nvidia’s demo was perhaps even more impressive than OpenAI’s language model. The tech company did to see be able to generate photorealistic images where video and audio are calculated by the AI on the spot. It was also possible to communicate with fictional characters.
Hoskinson fears the worst
In the video, Charles takes a closer look at the problems that will arise in the near future regarding the application of generative AI. He predicts that in a period of 1 to 2 years the technology will be able to realize convincing images and forms of communication, making it easy to cheat investors.
Nowadays we already see many fraud practices in which scammers pose as well-known persons. Recently, we saw well-known Twitter channels being hacked, which then led unsuspecting users to obscure websites where they could receive crypto for free. With generative AI, pretending to be an influencer takes on a new dimension, where “fake accounts” are indistinguishable from the real thing.
Is there a solution?
Unfortunately, there is no simple way to prevent scams. There will always be people lurking hoping to make a quick buck. Charles emphasizes that when you are offered something in crypto “for nothing”, it is always a scam. In other words, if something is too good to be true, it probably is.