The issuer of the leading stablecoin in the crypto market, Tether (USDT), announced a strategic expansion into artificial intelligence (AI). However, Tether will develop AI-powered tools, according to a company press release.
Tether (USDT) expansion into artificial intelligence
The announcement details Tether’s expanded focus on AI technology, which will target several key areas:
-Pioneering the development of open-source, multimodal AI models and establishing new industry standards in this field.
-Leading collaboration on integrating AI solutions into cryptocurrency-focused products.
Tether’s decision to enter the AI industry stems from concerns about monopolization and a focus on transparency and privacy in AI development.
Tether CEO Statement
“Artificial intelligence is poised to revolutionize nearly every aspect of our lives, both in the real and digital worlds,” said Tether CEO Paolo Ardoino. “Today’s announcement establishing a new division within Tether redefines the boundaries of AI and democratizes open artificial intelligence while maintaining privacy, setting industry standards for innovation, utility, and transparency.”
Tether previously invested $500 million in Bitcoin (BTC) mining and is building crypto mining farms in Uruguay, Paraguay, and El Salvador.
The AI Token Market Landscape
Fueled by the broader crypto market rally, AI tokens have also exhibited positive momentum recently. The sector’s positive performance can be attributed, in part, to financial results and the subsequent Nvidia conference. The sector’s capitalization sits at $29.5 billion at the time of writing. TokenFi (TOKEN), ArkiTech (ARKI), and Botto (BOTTO) were among the growth leaders over the past month, surging 501%, 341%, and 297% in price, respectively, within 30 days. In terms of capitalization, Render (RNDR) occupies the top spot with an estimated value of $4.5 billion. Meanwhile, The Graph (GRT) and Bittensor (TAO) hold the second and third positions among AI tokens. However, Coinbase analysts believe the current demand for AI tokens is unsustainable. They anticipate a depreciation of these coins in the short or medium term.
AI is useful for crypto
Earlier, Vitalik Buterin said that artificial intelligence could solve one of the main problems of Ethereum (ETH). According to him, with the help of artificial intelligence it is possible to identify errors that are buried in the network code base. However, Vitalik previously spoke about the new technology with caution. Also, the programmer noted that super intelligent AI is capable of destroying humanity.
