Charles Hoskinson, has pointed out that the cryptocurrency industry and AI share a common challenge

In a recent post on the X social media platform, Charles Hoskinson, the founder of Cardano, drew parallels between blockchain technology and AI models to illustrate why short-term narratives often fall short.

Hoskinson pointed out the example of Sam Altman’s OpenAI, a renowned U.S.-based artificial intelligence research company famous for its “ChatGPT” model, which was dominating the field just a few months ago. However, the landscape has shifted, with increasing competition from other language models.

For instance, Anthropic, an American artificial intelligence startup founded by former OpenAI employees, recently introduced its Claude 3 family models. According to benchmarks published by Anthropic, these models outperformed OpenAI’s GPT-4 in various areas such as undergraduate-level knowledge, graduate-level reasoning, grade school math, coding, and mixed evaluations.

Furthermore, Meta (formerly Facebook) is gearing up to launch its Llama 3 language model in July, as reported by The Information. Even Elon Musk’s Grok chatbot, although criticized for its lack of humor, is contributing to the growing competition within the AI space.

Hoskinson believes that Cardano’s ecosystem is now in a strong position. He emphasized the platform’s ability to engage and unlock millions of people, its on-chain sovereign wealth fund, and its impeccable uptime record of over 2300 days.

Additionally, Hoskinson asserted that Cardano has the best plan for scalability and governance. He has previously argued that being a first mover can actually be a disadvantage, especially in niche sectors like decentralized finance, where network effects are fleeting.