A merging of crypto and artificial intelligence (AI) technology could give a $20 trillion boost to the global economy, according to asset management giant Bitwise.
The firm’s senior crypto research analyst, Juan Leon, says in a new report that the intersection of crypto and AI will be “even bigger than people imagine.”
Leon says the global race for AI supremacy has created an unprecedented demand for data centers, pushing most of the giants of the industry to full capacity, with even facilities still under construction being leased out in advance.
The analyst says Bitcoin (BTC) miners may be one of the beneficiaries of the new demand for data.
“That’s where miners come in.
Bitcoin miners – the computer networks that secure the bitcoin blockchain – are built for the sole purpose of processing and storing gargantuan amounts of data. In other words, they have the very resources – powerful chips, state-of-the-art cooling systems, and accompanying infrastructure – that AI companies are desperate for.”
Another area that crypto could intersect with AI, according to Leon, is with virtual assistants. Since the ability of virtual assistants like Apple’s Siri to complete complex tasks is currently quite limited, the analyst says that it will likely be necessary to integrate AI assistants with blockchains and have them work with digital money.
“Pairing AI assistants with smart contracts and digitally native money like bitcoin or stablecoins – which are designed to move securely without the slow oversight of centralized entities – could open up new avenues to further enhance our productivity.
Developments like these lead me to believe that the integration of AI and crypto will play to the advantage of both sectors, reshaping how we innovate and interact with the world.”
The full Bitwise report can be read here.
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