ARK Invest CEO Cathie Wood believes that the convergence between Bitcoin (BTC) and artificial intelligence (AI) will lead to a meteoric rise in the adoption of both technologies.
In a new ARK Invest video update, Wood says she’s looking at the adoption S-curves of Bitcoin and AI.
The S-curve is a mathematical graphic that shows the rate at which users adopt a new product or technology.
According to Wood, both Bitcoin and AI are about to hit the phase of the S-curve where users adopt the technologies at an unprecedented rate. The ARK Invest head highlights that the convergence between BTC and AI could massively accelerate the process.
“New technologies – they start out slowly and then they gain momentum and you end up into the steep part of this S-curve.
I think we are at a very similar point in both Bitcoin and AI. They’re both moving into the steep part of the S-curve. So you have S-curves feeding S-curves, creating opportunities for explosive growth potentials.”
Wood uses Tesla as an example of how tech convergences could serve as a catalyst for skyrocketing prices.
“The first convergence that served ARK really well was Tesla. Most people thought that Tesla was an auto company. It is not, of course. It is the convergence among three of our major innovation platforms.
Robots – autonomous vehicles are robots and will be robots. Energy storage – they will be electric, it is the most efficient and least expensive solution. And three, artificial intelligence – they’re going to be powered by AI, autonomous taxi platforms.
I think many people have been shocked by the explosive growth Tesla, and we haven’t seen anything yet because autonomous hasn’t happened yet.”
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