While some prominent voices in the tech industry are calling for a temporary pause in ChatGPT’s upgrades, the CEO of America’s largest crypto exchange Coinbase made it clear he opposes the move.

“Count me among the people who think this is a bad idea,” Brian Armstrong wrote in a recent tweet. “There are no 'experts' to adjudicate this issue, and many disparate actors will never agree. Committees and bureaucracy won’t solve anything.”

Armstrong’s comments came shortly after the publication of an open letter calling for a six-month moratorium on developing artificial intelligence (AI) more powerful than GPT-4, the latest iteration of ChatGPT, an AI chatbot created by OpenAI.

The letter, signed by Twitter chief Elon Musk, Apple co-founder Steve Wozniak, American entrepreneur and politician Andrew Yang, among more than 1,700 other signees, claims that “AI systems with human-competitive intelligence can pose profound risks to society and humanity.”


It also argues that the focus of AI research and development should be on making existing systems “more accurate, safe, interpretable, transparent, robust, aligned, trustworthy, and loyal.”

The Coinbase chief, however, disagrees, saying that “as with many technologies, there are dangers, but we should keep marching forward with progress because the good outweighs the bad.”

“Don’t ever let fear stop progress, and be wary of anyone trying to capture control in some central authority,” said Armstrong, whose company recently turned to AI in an attempt to understand how accurately ChatGPT could perform a token security review—a requirement for all tokens listed on the exchange.


ChatGPT: are concerns justified?

GPT (Generative Pre-trained Transformer) models, such as ChatGPT, are designed to generate human-like language and are used in a wide range of natural language processing (NLP) applications, including chatbots, language translation, and content creation.

GPT-4 was released about two weeks ago, featuring enhanced capabilities in areas like advanced reasoning and complex instructions, with OpenAI also claiming that the tool boasts “more creativity.”

While AI systems have been receiving increased attention in recent months, their growing popularity also sparked concerns, including ethical questions around the role of machines in human communication and decision-making, as well as the potential impact on employment and social inequality.

There are also concerns that software developers may use ChatGPT to make deceptive performance claims, with the Center for AI and Digital Policy filing a formal complaint with the U.S. Federal Trade Commission on Thursday, in which it accused OpenAI of violating section five of the FTC Act that targets deceptive and unfair practices.

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