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ARK Invest’s Cathie Wood has shared her views on the dynamic intersection of Bitcoin (BTC) and artificial intelligence (AI).
Wood, CEO of ARK Invest, shared her positive view on the convergence of Bitcoin and AI in a post on X (formerly Twitter). Wood sees a profound economic shift resulting from the convergence of these two innovative technologies.
The convergence between Bitcoin and AI could transform the way businesses organize, leading to a collapse in costs and an explosion in productivity. I have been blown away by the opportunities these brilliant entrepreneurs are creating. Watch out for this podcast on Thursday! https://t.co/kPW92CuhFQ
— Cathie Wood (@CathieDWood) September 2, 2023
According to the tweet, Wood expects transformative change to emerge from the dynamic interplay between AI, Bitcoin, and the broader Web3 realm.
She emphasized the numerous opportunities and positive outcomes that these technologies could offer to various industries and the broader economic landscape, with the potential to transform business structures that could ultimately lead to cost reductions and increased productivity.
Authorities are calling for AI regulation
As crypto.news recently reported, the UK House of Commons Committee on Science, Innovation and Technology has called for a global alliance to tackle AI abuse by malicious actors.
According to the report, the rapid advancement of AI has increased the need for discussions about governance and regulation. Policymakers are urged to implement frameworks that encourage positive use cases of AI while protecting against potential societal and individual risks.
The interim report underscores the need for dedicated AI legislation to help the UK create robust governance frameworks and maintain its leadership role in international AI regulation.
Last March, the UK government also proposed an innovation-friendly approach to AI regulation.
In May 2023, a consortium of EU lawmakers worked together to propose new AI regulations and called for a global summit to look at governance of advanced AI systems.
The 12 European MPs have called for US President Joe Biden and European Commission President Ursula von der Leyen to coordinate a meeting of international leaders to join forces on the governance of the AI ecosystem.
The UK’s history of technological innovation and regulatory expertise presents an opportunity to create a unique way to regulate AI. However, it is important to acknowledge that the proposed approach may struggle to keep up with the rapid advancement of AI technology.
Price analysis of the top AI tokens
According to the latest data from CoinGecko, the current market cap of artificial intelligence-based crypto assets is $2.37 billion, up 0.2% in value over the past 24 hours.
Top AI Tokens | Source: CoinGecko
AI tokens are cryptocurrencies supporting AI-related Web3 projects solving various real-world problems including portfolio management, image generation, wayfinding, and more. These tokens play a fundamental role in the operation of these ecosystems.
Render (RNDR), Fetch.ai (FET) and SingularityNET (AGIX) currently hold the top spots with market caps over $509 million, $266 million and $232 million, respectively.
At the time of this writing, the price of RNDR is around $1.37, up 1.7% over the past 24 hours.
FET is currently valued at $0.2543, up 0.1% over the same 24-hour period, while AGIX is around $0.189362, up 3.3% in corresponds to the last 24 hours.
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