CEO of Coinbase: Halting ChatGPT Development Is a “Bad Idea”

The CEO of America’s biggest cryptocurrency exchange Coinbase has made it clear that he opposes the temporary suspension of ChatGPT’s upgrades, despite calls for it from some important figures in the tech sector.

“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 remarks were made not long after an open letter asking for a six-month moratorium on the creation of artificial intelligence (AI) that is more potent than GPT-4, the most recent version of ChatGPT, an AI chatbot developed by OpenAI, was published.

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.

Although artificial intelligence (AI) systems have drawn more attention in recent months, they have also raised ethical concerns about the place of machines in human communication and decision-making as well as possible effects on employment and societal inequality.

Additionally, there are worries that software developers may use ChatGPT to make false performance claims. On Thursday, the Center for AI and Digital Policy filed a formal complaint with the U.S. Federal Trade Commission, accusing OpenAI of breaking the FTC Act’s section on unfair and deceptive business practices.