The artificial intelligence (AI) market is becoming one of the fastest growing industries in the world. According to market research firm Next Move Strategy Consulting, the current AI market is worth nearly $100 billion and is expected to grow exponentially.

Given this, it is not surprising that chatbots using AA are on the rise. Recent findings from Precedence Research show that the chatbot market size will reach $840 million by 2022.

AA chatbots for web3 developers in the works

As opportunities around AA and chatbots emerge in various industries, the Web3 sector is also starting to capitalize on this trend, with blockchain companies creating AA chatbots to help developers build applications faster and more efficiently.

Aanchal Malhotra, head of RippleX Research, an internal Ripple organization focused on the development and growth of XRP Ledger, told Cointelegraph that RippleX AA is working on building a chatbot that XRP Ledger developers can ask questions of.

"Instead of searching through all the documentation and customer libraries, developers will be able to direct their questions to the AA chatbot for instant answers. This will make developers' lives much easier by shortening the time it takes to turn ideas into applications."

Skale Labs, the team behind the Skale blockchain network, is building an AA-powered chatbot. Jack O'Holleran, co-founder and CEO of Skale Labs, told Cointelegraph that the Skale network has incorporated AA and machine learning capabilities, allowing developers to run pre-trained AA models as part of a smart contract.

"Smart contracts through AA run largely without human intervention. This allows developers to build quickly and efficiently," he said.

O'Holleran shared that Skale's AA chatbot will soon be released to the public and noted that one of the main use cases for AA is to support engineering development.

"Developers are building with record efficiency thanks to AA's support. One of the key areas of support is instant access to technical documentation and coding knowledge," he explained.

Similarly, Matthew Van Niekerk, CEO and founder of SettleMint, a blockchain programming tool, told Cointelegraph that AA tools are becoming essential for developers.

Van Niekerk explained that Sett-leMint recently added an AA Genie engineering assistant to its platform for rapid smart contract development and quality assurance and debugging testing.

"Our AA Genie is designed to help organizations produce their blockchain applications faster so they can take advantage of the $3.1 trillion opportunity enabled by blockchain," explained Van Niekerk.

Van Niekerk also noted that SettleMint's AA Genie is designed to support humans, not replace them. This is important to note, as there is considerable concern that assistants through AA may replace human workers.
"The tool itself is positioned as an engineering assistant, not an engineer.

It is designed to abstract away the mundane and complex processes that prevent developers and engineers from focusing on building innovative solutions that provide a clear return on investment for their businesses," explains Van Niekerk.

To put this into perspective, William Baxter, CTO and co-founder of tokenization platform Vertalo, told Cointelegraph that his company currently uses chatbots to summarize and present data to internal and external audiences. Baxter sees supported learning as one of the most promising general applications for chatbots:
"Instead of searching for topics and reviewing results or relying on a curator, a chatbot allows you to consume summaries of large volumes of information. Combined with web access and the use of questions that encourage the inclusion of links to primary sources, this significantly expands the scope of online research. The programming language, block -when learning a new channel or app, a chatbot's feedback is incredibly valuable, even if it's not completely correct."

Challenges may lead to delay in implementation

While AA-powered chatbots have the potential to help Web3 developers build better, several challenges can slow adoption.

For example, while O'Holleran knows that AA-powered smart contracts can accelerate technical development, he noted that these applications often require on-chain execution capability with predictable, automated spending.

"This can be a problem in a network with high gas rates and variable rates, where expected costs can vary dramatically because they can and can be unintentionally expensive," he said.

To combat this, O'Holleran explained that the Skale network has chain rates instead of gas, which reduces the total cost and makes for a verifiable forecast.

Lydia Mark, director of communications at Magma AA, a project to build an AA chatbot that provides users with a Web3-based virtual learning assistant, told Cointelegraph that ethical biases can also be problematic with AA chatbots.