OpenAI unveils its state-of-the-art artificial intelligence model, GPT-4, here’s how crypto markets react
The announcement of GPT-4’s launch caused a massive spike in the prices of AI tokens, but it pales in comparison to the AI euphoria of January 2023. However, some new coins managed to attract new users and significantly increase their capitalization.
GPT-4 released by OpenAI: What changes?
OpenAI, a U.S.-based corporation, made headlines yesterday, March 14, 2023, with its newest release, GPT-4. This artificial intelligence model is set to replace revolutionary GPT-3 that powered the public version of the ChatGPT bot.
Announcing GPT-4, a large multimodal model, with our best-ever results on capabilities and alignment: https://t.co/TwLFssyALF pic.twitter.com/lYWwPjZbSg
— OpenAI (@OpenAI) March 14, 2023
As explained by OpenAI representatives, this model is the most impressive artificial intelligence tool so far. Besides working with text inputs, it can also recognize and describe images. For instance, in one demo, GPT-4 managed to analyze and describe a photo of a lightning cable for the iPhone.
The model exhibits human-level performance on a number of technical and academic tasks, while still being less capable in real-world scenarios, the OpenAI team says. Meanwhile, developers highlighted that the most ground-breaking changes took place under the hood of the system:
In a casual conversation, the distinction between GPT-3.5 and GPT-4 can be subtle. The difference comes out when the complexity of the task reaches a sufficient threshold—GPT-4 is more reliable, creative, and able to handle much more nuanced instructions than GPT-3.5.
As a result, GPT-4 demonstrated better performance on dozens of exams, from the Uniform Bar Exam to the LSAT and GRE. The new model managed to reach a score among the top 10% of exam participants.
Artificial Intelligence (AI) coins segment adds 15% in 24 hours, here are top performers
The segment of artificial intelligence (AI) tokens demonstrated optimism about the GPT-4 release despite the fact that it is only available for paying clients in a limited number of countries, as of now.
The net market capitalization of the AI segment (30 tokens tagged by CoinGecko under the “AI Coins” label) spiked to $1.95 billion, adding over 15% in 24 hours since the announcement. However, this upsurge was mostly driven by low-cap coins. For instance, Image Generation AI (IMGNAI) token, by the project that addressed AI-powered images of adult models, surged by 90% in almost no time.
On March 14, it rallied from $0.011 to $0.02. That said, this token, available only on Uniswap, MEXC and Bitget, managed to become the best performer of the entire altcoin segment.
BOTTO, the “native token of decentralized autonomous artist,” surged by 30%, while Quadency (QUAD) mysteriously pumped by 100% today, on March 15, 2023. Both tokens are very close to entering the top 1,000 of assets by CoinGecko.
SingularityNET (AGIX), Numeraire (NMR) also in green zone
The performance of “heavyweights” in AI segment does not look so exciting. SingularityNET (AGIX) is the only mid-cap that demonstrated a double-digit spike: its price rallied from $0.38 to $0.54 in a few hours, printing a 42% increase.
The project is associated with the Cardano (ADA) community and is among the largest and oldest AI-themed tokens. Its rival, NMR by Numeraire, only added 9.6% in the corresponding period.
Also, major AI tokens Fetch.AI (FET) and Artificial Liquid Intelligence (ALI) are in the red zone today. FET is down 6.9%, while ALI lost over 11%.
As such, we can say that the AI narrative in crypto is most likely losing steam: although yesterday’s spike was obvious, it was driven by small-caps and lasted for less than one day.