The intersection of artificial intelligence (AI) and cryptocurrencies could create a noticeable ripple effect that could add a staggering $20 trillion to global gross domestic product (GDP) by 2030, according to a recent report from Bitcoin ETF issuer Bitwise.
Research by analyst Juan Leon highlights the potential magnitude of this synergy, which is expected to exceed current expectations. The annual Consensus conference in Austin further highlighted the importance of this trend, with industry experts discussing its wide-ranging implications, ranging from tokenization and regulation of monetary policy and Bitcoin ETFs.
Convergence of artificial intelligence and cryptocurrencies
According to The artificial intelligence boom led by companies like Nvidia has pushed the market capitalization of the world’s leading AI chipmaker to more than $3 trillion, making it the world’s second-largest public company, according to a Bitwise analyst.
But Leon says that as the race for AI supremacy intensifies, this boom has created an “unprecedented shortage” of data centers, AI chips and access to electricity.
Artificial intelligence companies are turning to Bitcoin miners who have the necessary resources – powerful chips, superior cooling systems and supporting infrastructure – to process and store massive amounts of data to solve this problem.
The report further highlights recent developments, such as CoreWeave’s offer to acquire Core Scientific and subsequent partnership, as an example of the growing collaboration between mining and artificial intelligence providers.
For the analyst, the convergence of artificial intelligence and cryptocurrency opens up long-term prospects that deserve attention. One such area is information validation, where the availability, transparency and immutability of public blockchains can counter potential abuses of artificial intelligence.
Startups like Attestiv leverage blockchain technology to create digital fingerprints for films to verify their authenticity and combat the spread of ‘deepfakes’. This app can cover research screening, government communications, and more, offering the necessary checks and balances on AI-generated content.
Perfect couple?
According to Bitwise, another promising intersection lies in the realm of virtual assistants. While AI-powered assistants like Siri and Alexa introduced to Apple devices are becoming “increasingly versatile,” Leon says their capabilities can be further enhanced by integrating with clever contracts and cryptocurrencies such as Bitcoin or stablecoins.
The analyst notes that this potential integration would enable complicated tasks to be completed safely and efficiently, increasing productivity and expanding the potential of artificial intelligence-based virtual assistants.
PwC projects that AI and cryptocurrency could individually contribute $15.7 trillion and $1.8 trillion to the global economy. world economy However, Leon states that the “synergistic effects” of their integration could result in a cumulative effect, potentially increasing the total value to $20 trillion or more.
Ultimately, the convergence of artificial intelligence and cryptocurrencies represents a significant opportunity for global economic growth. With the potential to add $20 trillion to global GDP by 2030, this “megatrend” promises to transform industries, address challenges in data centers, information validation and the capabilities of virtual assistants.
Featured image from Shutterstock, chart from TradingView.com
