Alyz Ava Labs Launches AvaGPT, Joining Other Blockchain Companies Using OpenAI's ChatGPT Technology

Alyz Ava Labs Launches AvaGPT, Joining Other Blockchain Companies Using OpenAI’s ChatGPT Technology

Updated: 21 June 2023

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Ava Labs, the company behind the Avalanche network, has recently announced the launch of AvaGPT, a platform that utilizes OpenAI’s ChatGPT technology to provide more efficient communication within the blockchain industry.

AvaGPT aims to assist Avalanche users by promptly answering their general inquiries and allowing access to the support team. The launch intends to enhance response time and provide users with direct access to relevant information.

AvaGPT Improving User Support and Information Access on Avalanche Network

AvaGPT, which was launched by Ava Labs, has been trained on complete documentation on the Avalanche blockchain and Core, which Ava Labs diligently develops. This training ensures that AvaGPT possesses an extensive understanding of the technical details, concepts, and intricacies associated with the Avalanche blockchain and Core technology.

Introducing the first-ever AI chatbot to live on a crypto web portfolio: AvaGPT, is now available for Core web users!

Get instant access to crucial information about Core and #Avalanche products in a user-friendly way.

🦉: https://t.co/VjEe1IUqhu pic.twitter.com/WNlkO7D3oP

— Core 🦉 (@coreapp) June 20, 2023

According to Ava Labs Technical Product Manager Kieran McShane’s explanation, AvaGPT was a collaborative effort between Ava Labs and Kapa AI, the service provider for ChatGPT. He further mentioned that The integration of AvaGPT occurred within the Ava Labs Core platform, which was developed by the support team and engineers at Ava Labs.

McShane emphasized that the team ensures AvaGPT’s training is focused exclusively on Avalanche documentation. He reiterated that the customer support team at Ava Labs is still available to assist users in answering their questions.

Ava Labs developed Ava Labs’ Core as a platform that supports multiple blockchains, such as Avalanche, Bitcoin, and Ethereum. McShane mentioned that their users extensively utilize Core and plans to introduce more Avalanche-specific features. Additionally, he noted that Ava Labs already employs chatbot technology on their Discord server to provide answers to user inquiries.

Ava Labs, a New York-based company, was founded in 2018 and introduced the Avalanche proof-of-stake (PoS) blockchain in September 2020. In June 2022, they launched the Core Wallet, a decentralized app platform, and later released the Android version in December. The recent addition to the Core suite of tools is AvaGPT.

How is AvaGPT Expanding GPT-Based Offerings?

According to McShane, AvaGPT is just the initial GPT-based product Ava Labs plans to release without providing further details. Other blockchain companies, like Alchemy and Etherscan, are also utilizing ChatGPT’s technology.

And just like other platforms using OpenAI’s chatbot, Ava Labs includes a disclaimer informing users about the accuracy of the AI responses, clarifying that AvaGPT is intended for informational purposes only.

The warning states that neither Ava Labs, Inc., nor anyone in the Avalanche community is accountable for the content in the chat or certifies the accuracy of the information provided by the chatbot. Additionally, the company says it’s not responsible for moderating, monitoring, or responding to the chat’s contents.

The issue of AI hallucinations, which refers to the generation of false or fake information by AI when responding to prompts, remains a significant concern. This hinders the rapid development and widespread acceptance of artificial intelligence.

AVAX Price Increases by 6.2% in 24 Hours, Outperforming Broader Cryptocurrency Market

Following the announcement of AvaGPT, the price of AVAX, the native cryptocurrency of the Avalanche blockchain, has experienced a notable increase of 6.2%. This surge has surpassed the average growth of the broader cryptocurrency market, which has seen a 4.0% rise during the same period.

AvaGPT, developed in collaboration with Kapa AI, aims to provide a user-friendly experience for Avalanche (AVAX) and Core ecosystem users. It estimates AVAX’s supply and shares market data from sources like CoinMarketCap and CoinGecko. While AvaGPT can estimate AVAX’s supply and provide market data, it doesn’t automatically offer block explorer links or balance inquiries.

In addition to working with Ava Labs, Kapa AI has also worked with other crypto projects, such as Moonbeam Network and Algorand, to create ChatGPT-powered chatbots for their Discord channels.

Other Companies Using AI Chatbots

The cryptocurrency industry has seen a rise in AI chatbot solutions from various projects and companies. Binance introduced its “Sensei” app in April 2023, and Solana announced its ChatGPT plugin in the same month. In May, Crypto.com unveiled its own AI assistant, “Amy.” These developments are aimed at improving user support and accessibility within the cryptocurrency ecosystem.