Breaking Crypto News – Maximizing AI and Crypto Relationship for Economic Growth
Breaking Crypto News – Juan Leon, Senior Crypto Research Analyst at Bitwise, outlines the revolutionary potential of the convergence of artificial intelligence (AI) and the cryptocurrency space in recent research. Combining these two developing industries might have a big effect on the world economy, according to Leon. This convergence has the potential to transform our relationship with technology and digital assets and improve a number of sectors.
Leon highlights that there will be far more fusion between AI and crypto than is now thought. By 2030, he estimates that it may raise the world GDP by a total of $20 trillion.
PwC projects that AI and crypto could add $15.7 trillion and $1.8 trillion to the global economy by 2030, respectively. While that adds up to $17.5 trillion, I would not be surprised to see their synergies have a compounding effect that could drive the combined value to $20 trillion or beyond,
Leon
One of the Most Common Intersections of Crypto and AI is Bitcoin Mining
The infrastructure needed for Bitcoin mining is growing more and more useful to AI businesses, making it one of the important areas of intersection. There is a shortage of these resources as a result of the present AI boom, which is being driven by the need for powerful CPUs and data centers. This need is being filled by Bitcoin miners who have the required cooling systems and hardware. He mentions CoreWeave’s bid to buy Bitcoin miner Core Scientific, for instance.
The offer came the same week that Core Scientific announced the largest miner-AI partnership to date: a $3.5 billion deal to host CoreWeave’s AI-related services in its data centers over the next 12 years,
Leon
FAQ
How is AI Related to Cryptocurrency?
Large volumes of historical price data for different cryptocurrencies can be analyzed by AI, and in particular by machine learning algorithms. These models estimate possible future changes in cryptocurrency prices by identifying trends in historical data (such as price, volume, or volatility).
What is GDP?
The market worth of all the finished goods and services produced and provided by a country or countries over a given time period is measured monetarily as the gross domestic product. GDP is frequently used to assess a nation’s or region’s economic health.
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