Domain Investing In The Age of Generative AI
A digital domain name is one of the most vital tools for business or brand success online. To that end, there are several websites that promise to help businesses or startup generate a new name. Some of the new hybrids of websites that promise to make naming easier include Namelix.com, BusinessNamemaker.com, Looka.com, Durable.co, Zyro.com, Namify.tech, Copy.ai, and Panabee.com. Unfortunately, most of the website that I tested doesn’t tell you if the domain is available for registration at domain registrars like Sav.com nor do they tell you if the domain is available in the marketplace like Dan.com, a company own by GoDaddy. Moreover, these websites don’t address the issue of potential trademark infringement if the domain name is stolen or if there is a UDRP case connected to the domain name. However, a hand full of domain aftermarket platforms are attempting to address issues relating to trademark infringement, domain availability or domain valuation. Marketplaces like SquadHelp, have a tool that let you check if the domain that you listed on their website is affected by an existing trademark.
Do you remember the movie iRobot featuring Will Smith? Will Smith played a technophobic cop who investigates a crime that may have been perpetrated by a robot, which leads to a larger threat to humanity. iRobot gave us a glimpse into what a robot powered by AI is capable of. I don't know much about AI, but I am certain it has been around for more than 80 years. AI has been powering something around us for a long time. The traffic light in front of your favorite coffee shop is powered by AI. Several weeks ago, SquadHelp, a company that “helps you come up with a great name for your business by combining the power of crowdsourcing with sophisticated technology” announced how they are using AI to write descriptions for domain names listed on their platform for sale. Prior to this announcement, domain name owners had the option of writing their descriptions for each of their domain names or paying a fee to SquadHelp for one of its experts to write the description for the domain name. Below is an example of an AI-Generated description for ChatTwo.com
“ChatTwo.com is the perfect blend of communication and connection. This captivating domain name evokes feelings of friendship, conversation, and a sense of togetherness in the digital world. It brings to mind images of lively chats between two people, sparking stimulating discussions and meaningful bonds. Ideal for startups in the social media, messaging, or online community space, ChatTwo.com embodies the power of dialogue and collaboration. This short, 7-letter, 2-syllable domain is easy to remember and effortlessly rolls off the tongue, leaving a lasting impression on users navigating the ever-growing digital landscape.”
The first time that I use “Read Aloud” to pronounce my name “Elie” it didn’t say it the way I would have to pronounce my name. However, after using the tool to pronounce my name 3 to 4 times, I was surprised that the next time that I asked Read Aloud to pronounce my name, it said it better than anyone else who has heard my name more than 10 times. “Read Aloud is an AI-powered tool that comes with Microsoft office. I use the read-aloud when I am editing writing for possible spelling or grammatical errors. Rather than read quietly, I click on read aloud and then listen as the AI-powered tool reads what I have written. Interestingly, I recently started using read-aloud to pronounce made-up brandable words. Every time that I create a new domain name and I use read-aloud to learn how to pronounce the new word that I created. What is AI and when was it first discovered?
“Artificial intelligence (AI) is intelligence—perceiving, synthesizing, and inferring information—demonstrated by machines, as opposed to intelligence displayed by non-human animals and humans. Example tasks in which this is done include speech recognition, computer vision, translation between (natural) languages, as well as other mappings of inputs. AI applications include advanced web search engines (e.g., Google Search), recommendation systems (used by YouTube, Amazon, and Netflix), understanding human speech (such as Siri and Alexa), self-driving cars (e.g., Waymo), generative or creative tools (ChatGPT and AI art), automated decision-making, and competing at the highest level in strategic game systems (such as chess and Go).”
“The earliest substantial work in the field of artificial intelligence was done in the mid-20th century by the British logician and computer pioneer Alan Mathison Turing. In 1935 Turing described an abstract computing machine consisting of a limitless memory and a scanner that moves back and forth through the memory, symbol by symbol, reading what it finds and writing further symbols. The actions of the scanner are dictated by a program of instructions that also is stored in the memory in the form of symbols. This is Turing’s stored-program concept, and implicit in it is the possibility of the machine operating on, and so modifying or improving its own program.
Turing could not turn to the project of building a stored-program electronic computing machine until the cessation of hostilities in Europe in 1945. Nevertheless, during the war, he gave considerable thought to the issue of machine intelligence. One of Turing’s colleagues at Bletchley Park, Donald Michie (who later founded the Department of Machine Intelligence and Perception at the University of Edinburgh), later recalled that Turing often discussed how computers could learn from experience as well as solve new problems through the use of guiding principles—a process now known as heuristic problem-solving.”
“Yes, it’s early days, and the AI tools and apps that are blowing our minds today are going to look amusingly quaint compared to what we’re playing with in five years’ time. But make no mistake, AI is here today, embedded everywhere in the world around us. You might be one of the many who don’t even realize it – a survey a few years back found that while 84% of us were using AI on a daily basis, only 34% knew we were doing it. But when you’re shopping online, searching the internet, ordering food deliveries, hailing a ride, navigating from place to place, or enjoying music and movies, you’re probably using AI.” In the future, AI is going to be like electricity. Everyone needs electricity to get work done. We do not have to know the nitty-gritty of how electricity is generated. What most of us know about electricity is how to turn it on or off the switch. How will AI and Generative AI help the domain industry?
Generative AI
“A generative artificial intelligence or generative AI is a type of AI system capable of generating text, images, or other media in response to prompts. Generative AI systems use generative models such as large language models to statistically sample new data based on the training data set that was used to create them. Notable generative AI systems include ChatGPT, a chatbot built by OpenAI using the GPT-3 and GPT-4 large language models, and Bard, a chatbot built by Google using the LaMDA model. Other generative AI models include artificial intelligence art systems such as Stable Diffusion and DALL-E. Generative AI has potential applications across a wide range of industries, including software development, marketing, and fashion. Investment in generative AI surged during the early 2020s, with large companies such as Microsoft, Google, and Baidu as well as numerous smaller firms developing generative AI models.”
Let's take a look at how Generative AI would help domain investors, the domain industry, or domain buyers in the near-distant future.
Scenario 1
Imagine for a second you are about to acquire a one-word empty vessel domain name at the auction, but you are concerned as to whether or not there are potential end users for the domain name. So you decided to do a quick research about potential clients. You use Generative AI like GPT-3/GPT-4 or LaMDA (combo) to find what brands or future startups will benefit from owning the domain name. Within seconds, they split out more than 1,000 potential startups from around the world that are thinking of what to call their companies. Unknowing to you, as soon as you asked GPT-3/GPT-4 or LaMDA the question, the 1,000 startups also received alerts that there is a domain name that matches their brand.
GPT-3/GPT-4 and LaMDA both recommend that you acquire the domain based on a 99% chance that you will sell the domain name within the next 48 hours. As soon as you pay for the domain name, GPT-3/GPT-4 or LaMDA instantly drafts an email and then sends it out to 1,000 startup founders. Then GPT-3/GPT-4 or LaMDA instantly scheduled a phone meeting between you and the top 50 founders of the 1,000 startups that are likely to acquire the domain name from you. After GPT-3/GPT-4 or LaMDA scheduled the meeting between you and the prospects, they also contact 100 financial institutions around the world who are willing to fund the acquisition of the domain name, in the event the potential buyers do not have the fund to pay for the domain acquisition.
Scenario 2
Imagine you are a new domain name investor and you have tried without success to get one of the top domain investors to mentor you but they would not return your call or email. Rather than go through the traditional way of learning which can take up to 6 months to learn about everything about domain investing, you decided to use GPT-3/GPT-4 or LaMDA to learn about domain investing. You asked GPT-3/GPT-4 or LaMDA the quickest way to become one of the top domain investors in the world. GPT-3/GPT-4 or LaMDA gave you a 1-minute assessment of your strength and weakness. After the assessment, GPT-3/GPT-4 or LaMDA tells you what type of domain investor you are, your risk level, where to secure funding for domain investing, what book, blog, and article to read, and what type of domain names you should be investing in. Within 1 week, you have learned everything that you need to know in order to become a successful domain name investor.
Scenario 3
Imagine for a second, a Fortune 500 company is looking to acquire a domain name for their new product. Rather than go through the traditional route of using consumer focus groups or branding agencies, they decided to do it alone. They asked GPT-3/GPT-4 or LaMDA the names of the top five domain investors and the top 5 domain names in their portfolios that match what they are looking for. Within 20 seconds, the buyer received the names of the investors, domain names, and asking price based on GPT-3/GPT-4 or LaMDA recommendation. Luckily, your name and domain name were among the top recommendation. Within 60 seconds, they acquire the domain name, send the sales tax to the IRS and transfer the rest of the money into your bank wallet. Within 5 minutes of the close of the transaction, your bank wallet sent you a text message that you have been paid for the sale of your domain name. Within seconds of that text message, you received another text that the buyer would like to retain your service for future acquisition. By using GPT-3/GPT-4 or LaMDA, the buyer has saved themselves millions of dollars and in the process eliminate the middleman.
In my opinion, the domain industry is still at its early stage as it relates to how Generative AI can help propel the industry forward. In my view, there are 3 possible ways that Generative AI can help support your domain investing business: automated acquisition processes (bot or auto bid), insight data analysis as it relates to marketing tools, and engaging with prospective customers. Generative AI could also help you manage complicated tasks that include:
transferring data from e-mail and CRM into systems of record—for example, helping you update customer contacts or adding services like assisting clients with domain renewal, registration of other extensions for defensive purposes;
managing upcoming domain renewal, alerting on potential account breaches or attempted domain theft, or extracting information about potential domain buyers from multiple marketplaces; and
“reading” legal and contractual documents to extract provisions using natural language processing (NLP).
What do you think about AI as it relates to domain name investing? Do you see AI as a tool that will help the domain industry grow or put domain investors out of business?
Reference
Example of AI-Generated Description,
squadhelp.com/domain-insights/ChatTwo.com#domainresults
Generative artificial intelligence,
en.wikipedia.org/wiki/Generative_artificial_intelligence
“Artificial intelligence (AI) is intelligence,
en.wikipedia.org/wiki/Artificial_intelligence
The earliest substantial work in the field of artificial intelligence,
britannica.com/technology/artificial-intelligence/Alan-Turing-and-the-beginning-of-AI
Yes, it’s early days and the AI tools,
forbes.com/sites/bernardmarr/2023/03/20/beyond-the-hype-what-you-really-need-to-know-about-ai-in-2023/?sh=4c3c69591315
A digital domain name is one of the most vital tools for business or brand success online. To that end, there are several websites that promise to help businesses or startup generate a new name. Some of the new hybrids of websites that promise to make naming easier include Namelix.com, BusinessNamemaker.com, Looka.com, Durable.co, Zyro.com, Namify.tech, Copy.ai, and Panabee.com. Unfortunately, most of the website that I tested doesn’t tell you if the domain is available for registration at domain registrars like Sav.com nor do they tell you if the domain is available in the marketplace like Dan.com, a company own by GoDaddy. Moreover, these websites don’t address the issue of potential trademark infringement if the domain name is stolen or if there is a UDRP case connected to the domain name. However, a hand full of domain aftermarket platforms are attempting to address issues relating to trademark infringement, domain availability or domain valuation. Marketplaces like SquadHelp, have a tool that let you check if the domain that you listed on their website is affected by an existing trademark.
Do you remember the movie iRobot featuring Will Smith? Will Smith played a technophobic cop who investigates a crime that may have been perpetrated by a robot, which leads to a larger threat to humanity. iRobot gave us a glimpse into what a robot powered by AI is capable of. I don't know much about AI, but I am certain it has been around for more than 80 years. AI has been powering something around us for a long time. The traffic light in front of your favorite coffee shop is powered by AI. Several weeks ago, SquadHelp, a company that “helps you come up with a great name for your business by combining the power of crowdsourcing with sophisticated technology” announced how they are using AI to write descriptions for domain names listed on their platform for sale. Prior to this announcement, domain name owners had the option of writing their descriptions for each of their domain names or paying a fee to SquadHelp for one of its experts to write the description for the domain name. Below is an example of an AI-Generated description for ChatTwo.com
“ChatTwo.com is the perfect blend of communication and connection. This captivating domain name evokes feelings of friendship, conversation, and a sense of togetherness in the digital world. It brings to mind images of lively chats between two people, sparking stimulating discussions and meaningful bonds. Ideal for startups in the social media, messaging, or online community space, ChatTwo.com embodies the power of dialogue and collaboration. This short, 7-letter, 2-syllable domain is easy to remember and effortlessly rolls off the tongue, leaving a lasting impression on users navigating the ever-growing digital landscape.”
The first time that I use “Read Aloud” to pronounce my name “Elie” it didn’t say it the way I would have to pronounce my name. However, after using the tool to pronounce my name 3 to 4 times, I was surprised that the next time that I asked Read Aloud to pronounce my name, it said it better than anyone else who has heard my name more than 10 times. “Read Aloud is an AI-powered tool that comes with Microsoft office. I use the read-aloud when I am editing writing for possible spelling or grammatical errors. Rather than read quietly, I click on read aloud and then listen as the AI-powered tool reads what I have written. Interestingly, I recently started using read-aloud to pronounce made-up brandable words. Every time that I create a new domain name and I use read-aloud to learn how to pronounce the new word that I created. What is AI and when was it first discovered?
“Artificial intelligence (AI) is intelligence—perceiving, synthesizing, and inferring information—demonstrated by machines, as opposed to intelligence displayed by non-human animals and humans. Example tasks in which this is done include speech recognition, computer vision, translation between (natural) languages, as well as other mappings of inputs. AI applications include advanced web search engines (e.g., Google Search), recommendation systems (used by YouTube, Amazon, and Netflix), understanding human speech (such as Siri and Alexa), self-driving cars (e.g., Waymo), generative or creative tools (ChatGPT and AI art), automated decision-making, and competing at the highest level in strategic game systems (such as chess and Go).”
“The earliest substantial work in the field of artificial intelligence was done in the mid-20th century by the British logician and computer pioneer Alan Mathison Turing. In 1935 Turing described an abstract computing machine consisting of a limitless memory and a scanner that moves back and forth through the memory, symbol by symbol, reading what it finds and writing further symbols. The actions of the scanner are dictated by a program of instructions that also is stored in the memory in the form of symbols. This is Turing’s stored-program concept, and implicit in it is the possibility of the machine operating on, and so modifying or improving its own program.
Turing could not turn to the project of building a stored-program electronic computing machine until the cessation of hostilities in Europe in 1945. Nevertheless, during the war, he gave considerable thought to the issue of machine intelligence. One of Turing’s colleagues at Bletchley Park, Donald Michie (who later founded the Department of Machine Intelligence and Perception at the University of Edinburgh), later recalled that Turing often discussed how computers could learn from experience as well as solve new problems through the use of guiding principles—a process now known as heuristic problem-solving.”
“Yes, it’s early days, and the AI tools and apps that are blowing our minds today are going to look amusingly quaint compared to what we’re playing with in five years’ time. But make no mistake, AI is here today, embedded everywhere in the world around us. You might be one of the many who don’t even realize it – a survey a few years back found that while 84% of us were using AI on a daily basis, only 34% knew we were doing it. But when you’re shopping online, searching the internet, ordering food deliveries, hailing a ride, navigating from place to place, or enjoying music and movies, you’re probably using AI.” In the future, AI is going to be like electricity. Everyone needs electricity to get work done. We do not have to know the nitty-gritty of how electricity is generated. What most of us know about electricity is how to turn it on or off the switch. How will AI and Generative AI help the domain industry?
Generative AI
“A generative artificial intelligence or generative AI is a type of AI system capable of generating text, images, or other media in response to prompts. Generative AI systems use generative models such as large language models to statistically sample new data based on the training data set that was used to create them. Notable generative AI systems include ChatGPT, a chatbot built by OpenAI using the GPT-3 and GPT-4 large language models, and Bard, a chatbot built by Google using the LaMDA model. Other generative AI models include artificial intelligence art systems such as Stable Diffusion and DALL-E. Generative AI has potential applications across a wide range of industries, including software development, marketing, and fashion. Investment in generative AI surged during the early 2020s, with large companies such as Microsoft, Google, and Baidu as well as numerous smaller firms developing generative AI models.”
Let's take a look at how Generative AI would help domain investors, the domain industry, or domain buyers in the near-distant future.
Scenario 1
Imagine for a second you are about to acquire a one-word empty vessel domain name at the auction, but you are concerned as to whether or not there are potential end users for the domain name. So you decided to do a quick research about potential clients. You use Generative AI like GPT-3/GPT-4 or LaMDA (combo) to find what brands or future startups will benefit from owning the domain name. Within seconds, they split out more than 1,000 potential startups from around the world that are thinking of what to call their companies. Unknowing to you, as soon as you asked GPT-3/GPT-4 or LaMDA the question, the 1,000 startups also received alerts that there is a domain name that matches their brand.
GPT-3/GPT-4 and LaMDA both recommend that you acquire the domain based on a 99% chance that you will sell the domain name within the next 48 hours. As soon as you pay for the domain name, GPT-3/GPT-4 or LaMDA instantly drafts an email and then sends it out to 1,000 startup founders. Then GPT-3/GPT-4 or LaMDA instantly scheduled a phone meeting between you and the top 50 founders of the 1,000 startups that are likely to acquire the domain name from you. After GPT-3/GPT-4 or LaMDA scheduled the meeting between you and the prospects, they also contact 100 financial institutions around the world who are willing to fund the acquisition of the domain name, in the event the potential buyers do not have the fund to pay for the domain acquisition.
Scenario 2
Imagine you are a new domain name investor and you have tried without success to get one of the top domain investors to mentor you but they would not return your call or email. Rather than go through the traditional way of learning which can take up to 6 months to learn about everything about domain investing, you decided to use GPT-3/GPT-4 or LaMDA to learn about domain investing. You asked GPT-3/GPT-4 or LaMDA the quickest way to become one of the top domain investors in the world. GPT-3/GPT-4 or LaMDA gave you a 1-minute assessment of your strength and weakness. After the assessment, GPT-3/GPT-4 or LaMDA tells you what type of domain investor you are, your risk level, where to secure funding for domain investing, what book, blog, and article to read, and what type of domain names you should be investing in. Within 1 week, you have learned everything that you need to know in order to become a successful domain name investor.
Scenario 3
Imagine for a second, a Fortune 500 company is looking to acquire a domain name for their new product. Rather than go through the traditional route of using consumer focus groups or branding agencies, they decided to do it alone. They asked GPT-3/GPT-4 or LaMDA the names of the top five domain investors and the top 5 domain names in their portfolios that match what they are looking for. Within 20 seconds, the buyer received the names of the investors, domain names, and asking price based on GPT-3/GPT-4 or LaMDA recommendation. Luckily, your name and domain name were among the top recommendation. Within 60 seconds, they acquire the domain name, send the sales tax to the IRS and transfer the rest of the money into your bank wallet. Within 5 minutes of the close of the transaction, your bank wallet sent you a text message that you have been paid for the sale of your domain name. Within seconds of that text message, you received another text that the buyer would like to retain your service for future acquisition. By using GPT-3/GPT-4 or LaMDA, the buyer has saved themselves millions of dollars and in the process eliminate the middleman.
In my opinion, the domain industry is still at its early stage as it relates to how Generative AI can help propel the industry forward. In my view, there are 3 possible ways that Generative AI can help support your domain investing business: automated acquisition processes (bot or auto bid), insight data analysis as it relates to marketing tools, and engaging with prospective customers. Generative AI could also help you manage complicated tasks that include:
transferring data from e-mail and CRM into systems of record—for example, helping you update customer contacts or adding services like assisting clients with domain renewal, registration of other extensions for defensive purposes;
managing upcoming domain renewal, alerting on potential account breaches or attempted domain theft, or extracting information about potential domain buyers from multiple marketplaces; and
“reading” legal and contractual documents to extract provisions using natural language processing (NLP).
What do you think about AI as it relates to domain name investing? Do you see AI as a tool that will help the domain industry grow or put domain investors out of business?
Reference
Example of AI-Generated Description,
squadhelp.com/domain-insights/ChatTwo.com#domainresults
Generative artificial intelligence,
en.wikipedia.org/wiki/Generative_artificial_intelligence
“Artificial intelligence (AI) is intelligence,
en.wikipedia.org/wiki/Artificial_intelligence
The earliest substantial work in the field of artificial intelligence,
britannica.com/technology/artificial-intelligence/Alan-Turing-and-the-beginning-of-AI
Yes, it’s early days and the AI tools,
forbes.com/sites/bernardmarr/2023/03/20/beyond-the-hype-what-you-really-need-to-know-about-ai-in-2023/?sh=4c3c69591315
