Prompt Crafting: The Benefits, Challenges & Future for Blockchain and Web3 Entrepreneurs

Happy Sunday fellow wayfinder!

Last week, we discussed AI and how it's making lives easier for Community Managers, marketers, and One-Person Businesses (OPBs). This week, we look at prompt crafting.

Let's dive in.

☕️ Reading time: 4-5 mins.

In this issue, I’m going to share with you:

• What prompt crafting is

• Why you should pay attention

• Its relation to blockchain and Web3

• Personal experiences with it

• My strategy moving forward

Prompt crafting is the process of creating specific language prompts for language models like GPT-3 to generate text.

It's a game-changer for entrepreneurs in the blockchain and Web3 space.

As an experienced community-builder and entrepreneur, I've experienced both the benefits and challenges of using prompt crafting to create high-quality and unique content at a faster rate and lower cost than manual writing.

Before you read further, you should know that I very much love writing, but I see how and why prompt crafting is becoming its own profession, fast.

Just see the rawness of this disruption below:

Benefits 

One of the biggest benefits of prompt crafting is the ability to generate a wide variety of text styles and formats.

This versatility allows entrepreneurs to create content that appeals to different audiences and serves different purposes, such as blog posts, whitepapers, and social media posts.

Additionally, the use of language models enables the generation of text in multiple languages, making it a powerful tool for reaching a global audience.

And finally, prompt crafting helps you understand how these emerging AI tools "think," and which forms of text provide better answers.

Challenges

However, like any new technology, there are challenges to using prompt crafting.

One of the biggest challenges is understanding how to create effective prompts that generate relevant and high-quality text.

This requires a certain level of technical knowledge and experimentation, which can be daunting for solo entrepreneurs who may not have a background in programming or data science.

Another challenge is the potential for the generated text to be too similar to existing content, which can lead to plagiarism issues. This is especially a concern for entrepreneurs in the blockchain and Web3 space, where the field is rapidly evolving and new ideas are constantly being generated.

Personal Experiences

So far, using prompt crafting has allowed me to generate a wide range of content, from posts (like this one) to streamlining team processes (for clients) and even speed up social media content generation.

This has allowed me to increase output while decreasing time spent. I actually put on a webinar last week here:

Granted, I still review everything Chat-GPT spits out because it isn't 100% accurate. Nor should we rely on AI-based tools to do everything for us.

Prompt crafting needs to be a co-creation process.

A good example of prompt crafting typically comes from quality inputs. So the better your prompts to any AI-based tools (like ChatGPT), the better answers you'll receive.

My current secret cheat sheet (thanks to entrepreneur Rob Lennon) can be found here:

• 10 prompt snippets to dramatically improve ChatGPT's writing style

Moving forward, I plan to continue experimenting with prompt crafting and sharing my knowledge with others in the blockchain and Web3 spaces.

The biggest use case for me so far (outside of personal brand work) has been in helping my clients and their teams use these emerging tools to improve team productivity.

By working together, we can overcome the challenges and unlock the full potential of this emerging technology (just like Bitcoin, blockchain, Web3, and NFTs).

Future

Despite these challenges, I remain optimistic about the future of prompt crafting. As more entrepreneurs and businesses adopt this technology, we will see the development of new and more sophisticated tools that make it easier to create effective prompts and generate high-quality text.

There's already a case for "prompt sequences," as mentioned by Rob again:

Additionally, the increased use of prompt crafting will lead to a growing community of entrepreneurs and developers who can share knowledge and support each other around writing quality prompts specifically (e.g. PromptBase).

Microsoft is currently footing the bill to keep ChatGPT going (at $100K per day or $3 million a month), which is why I mentioned in a previous post that a scaleable blockchain would help reduce such costs. Google went into code red recently, "prompting" their original founders to return.

So I think prompt crafting will transcend the battles between the tech giants (like Google and Microsoft), allowing entrepreneurs to carve their own relevant income streams.

What do you think about prompt crafting? Have you given it much attention yet? Could this be something you try charging businesses to help do for them? Let me know.

Until next week, remember: through patience & persistence, it will come.

GeorgeTwitter | LinkedIn | Blog | Tools

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