Bitwise’s Senior Crypto Research Analyst, Juan Leon, underscores the transformative potential at the intersection of artificial intelligence (AI) and the crypto industry in a recent report.
Leon suggests that the fusion of these two emerging sectors could have a significant impact on the global economy. This convergence has the potential to improve various industries and transform our interaction with technology and digital assets.
“AI-Crypto Synergy: The Future of Innovation”
Leon stresses that the integration of AI and crypto is expected to have a more substantial impact than currently envisaged. He forecasts that it could contribute a total of $20 trillion to the global GDP by 2030.
“PwC forecasts that AI and crypto could contribute $15.7 trillion and $1.8 trillion, respectively, to the global economy by 2030. While this totals $17.5 trillion, I anticipate their synergies to have a compounding effect, potentially driving the combined value to $20 trillion or even higher,” he explained.
At the intersection of AI and crypto, Bitcoin mining stands out as a key area where infrastructure is increasingly valuable to AI companies. The current AI boom, driven by demand for data centers and powerful chips, has created a shortage of these resources.
Bitcoin miners, equipped with necessary hardware and cooling systems, are stepping in to fill this gap. For instance, CoreWeave’s bid to acquire Bitcoin miner Core Scientific coincided with Core Scientific’s announcement of a $3.5 billion deal to host CoreWeave’s AI-related services in its data centers over the next 12 years.
Felix Mohr, Managing Partner of MohrWolfe, sees potential in integrating AI into the Bitcoin mining industry. He suggests that AI adoption could create additional revenue streams or enhance existing ones, particularly through improved predictability and consolidation among miners.
Looking ahead, Leon explores longer-term opportunities at this intersection, such as information validation. While AI has introduced challenges like deep fakes and biased content, blockchain technology’s transparency and immutability could offer solutions to these issues.
“One example: A startup called Attestiv creates digital ‘fingerprints’ for videos based on their metadata. […] Theoretically, we could see similar ways of validating everything from original research to official government communications. It’s why many experts affirm that blockchains will play a pivotal role in putting checks and balances on AI,” he said.
Moreover, Leon envisions that integrating AI with crypto could revolutionize virtual assistants. By combining AI-driven tools with smart contracts and digital currencies, these assistants could efficiently perform more complex tasks, thereby enhancing productivity.
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