AI tools are increasingly integrated into various human activities. An AI Agent is a program designed to perform intricate, specialized tasks on behalf of a person.
In their early phases, AI Agents are operating similarly to AI Bots within the cryptocurrency space. Nonetheless, experts predict a future where these agents will possess significantly enhanced capabilities.
“Terminal of Truths” Ignites Curiosity in AI Agents
The advancement of large language models (LLMs) paved the way for Andy Ayrey’s development of “Terminal of Truths.” Currently, however, this AI account lacks the ability to independently manage its own crypto wallet; its functionalities are confined to content creation.
James Ross, the founder of Mode Network, suggests that AI Agents could soon conduct blockchain transactions autonomously. He anticipates a significant increase in the number of transactions carried out by AI Agents in the near future.
“Updating my AI x Crypto thesis. Original thesis: Over 80% of all blockchain transactions will be executed by AI agents within the next 24 months. New thesis: Over 80% of all blockchain transactions will be executed by AI agents in the next 6-12 months,” declared Ross .
A recent report from Crypto.com describes that for an AI Agent to accomplish a human request in the web3 domain, it must obtain permissions from several entities (possibly through APIs). This indicates that tasks traditionally requiring extensive experience, such as trading, staking, token creation, NFT generation, promotion, and feedback, could potentially be automated by AI Agents.
However, after noting how the AI account “Terminal of Truths” impacts GOAT token values, investor Edgy expresses reservations about AI Agents.
“Truth Terminal has over 100,000 followers and continues to grow. The account has remarkable reach for each tweet. It posts every hour – it’s a KOL that doesn’t rest… There will be numerous scams trying to take advantage of this trend,” commented Edgy .
Other experts, like Qw from Messari and Mert, CEO of Helius Labs, are less optimistic about the idea of AI Agents.
“The rebranding of “bots” to “AI agents” is a remarkable crypto phenomenon almost as clever as using “prediction markets” instead of “betting,” said Mert .
Read more: How Will Artificial Intelligence (AI) Transform Crypto?
Retail Investors and VCs Are Showing Interest in AI Agents
This topic has garnered considerable interest within the community. Data reveals that the prevalence of the term “AI Agents” spiked in October, reaching its peak in the past year.
According to data from Messari , the emerging AI Agent industry secured $79.5 million in investments over the last quarter. Messari also reports that venture capitalists invested over $213 million in AI-related initiatives during the same timeframe, marking a 340% year-over-year increase and 2.5 times more than Q2.
Read more: How To Invest in Artificial Intelligence (AI) Cryptocurrencies?
Furthermore, projections suggest that the market value for AI Agents could hit $47.1 billion by 2030. Moreover, Anthropic has recently unveiled an enhanced version of the Claude 3.5 Sonnet AI model, which includes a new feature that enables the AI to interact with and control computer applications. This innovation could advance AI Agent development even further.
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