AI and Crypto Integration to Drive “Transformative Changes Across Economies Worldwide,” says Hassan Hatu Sheikh of Ape Terminal
Artificial intelligence (AI) mania has swept across the globe, and crypto is no different. As Nvidia leads the stock market rally, AI coins are also pumping like crazy. In fact, the total market cap of AI coins currently stands at $27.2 bln, marking an impressive surge of over 185% in just under a month, according to CoinGecko.
As the narrative captivates investors, AI-related tokens are not only gaining traction but also seeing substantial price appreciation. This comes as industry-wide developments occur within the AI industry, which, in turn, is benefitting AI token prices.
For instance, recently, Cognition launched Devin, the world's first AI software engineer, and Anthropic AI released version 3 of its Claude AI, which generated a lot of buzz for its advanced awareness, while OpenAI debuted its text-to-video service Sora. While companies continue to make their products better and more advanced, governments around the world are also ramping up their AI-related spending.
Against this backdrop, Bitcoin has touched a new all-time high (ATH), surpassing $73,000, the crypto market cap has experienced a significant uptick, and AI coins have become a hot narrative. But this craze is not without any basis or limited to rising prices. After all, the technology is not only expected to drive innovations in the global economy, but together, both AI and crypto can help transform many industries.
“Combining AI with crypto presents us with a fascinating frontier in the evolution of technology, with both having immense potential to drive transformative changes across industries and economies worldwide through innovative solutions,” said Hassan Hatu Sheikh, the founder of popular crypto launchpad Ape Terminal. “This collaboration further inspires a vision of a more decentralized, efficient, and inclusive future to bring a positive societal change,” he added.
The Synergy of Crypto and AI
When it comes to the convergence of AI and crypto, this combination offers many benefits, particularly in terms of business efficiency, automation, and authenticity.
For example, in the crypto world, AI can significantly enhance the capabilities of crypto traders by automating transactions. Already, we are witnessing a surge in AI-powered crypto trading bots, which execute transactions faster and more accurately than humans can. In algorithmic trading, complex AI systems are utilized to make rapid trading decisions, with millions of transactions being executed daily.
With AI expected to be smarter than humans in the coming years, it will get even better at trading, analyzing market sentiments, and predicting market trends. Moreover, as Ethereum co-founder Vitalik Buterin stated last month, an exciting application of AI is “AI-assisted formal verification of code and bug finding” in crypto networks, which he believes will “change the game.”
Furthermore, AI can bring a new level of intelligence to crypto networks, thanks to its ability to rapidly read, understand, and correlate vast amounts of data. Meanwhile, the blockchain technology underpinning cryptocurrency provides a shared and transparent exchange of encrypted data, providing provenance of the data AI uses in its training and learning processes. This synergy can help improve trust in data integrity and enhance security.
Combining the two can actually deliver many new opportunities in different fields. AI is already helping advance healthcare by identifying insights from patient data, revealing patterns, and offering treatment options tailored to each patient. Hospitals and medical organizations can put all this data on blockchain to further improve patient care while improving their privacy.
Blockchain and crypto can further help address the crisis of user authority on social media platforms, which has been exacerbated by the growing usage of AI. New crypto projects are tackling the problem of bot networks by authenticating user identities and interactions and protecting our digital “personhood” in the age of AI.
As we have seen, crypto has completely transformed the financial services industry. By removing trusted third parties, it has accelerated the speed of transactions, while tokens have gamified the whole experience, making it attractive to the younger generation. Looking ahead, AI will perform many tasks and will probably use crypto when conducting financial transactions in the future.
The supply chain is yet another industry that would particularly benefit from AI and crypto integration. For instance, AI and crypto integration can bring transparency, traceability, and data integrity to the drug supply chain.
Concluding Thoughts
Individually, AI and crypto are the two biggest trends of this year, and combining them presents a huge opportunity for investors. But, of course, not every project is going to be the best bet on this future as we are currently riding higher on hype than actual value.
Currently, traders are utilizing AI tokens as a proxy bet on the Artificial intelligence industry. And although the blockchain industry has yet to achieve an effective integration of AI and crypto, we are still early in the game.
In the current bull market, increasing prices are driving the development and not the other way around. So, as we unlock the true potential of AI and integrate it more efficiently with crypto, we will solve many challenges the digital world faces and create numerous attractive opportunities moving forward.