For some weeks now, AI-related projects have been soaring in price, not minding the overall sentiment on the general cryptocurrency space. This is typically influenced by the hype and excitement around artificial intelligence (AI).
Particularly, the hype kicked off with the release of the revolutionary AI-related product, OpenAI’s ChatGPT language model, which led to the excitement, hype and sudden interest in the AI sector.
Crypto and AI Integration
Truth is, most cryptocurrency have already integrated AI into their operation systems way before the hype kicked off sometime last year, few examples are SingularityNET, which has applied the reasoning behind tokenized distributed computing to AI. SingularityNET for example, in the wake of this AI hype, has seen its token, AGIX, experience a significant surge.
In a detailed article, I further highlighted the crypto and AI integration on Why The Graph Tops The AI & Big Data Tokens List. The Graph’s native token, GRT, also spiked over 200% following the hype.
Google announces AI integration
Following the massive adoption of ChatGPT, Google went on to introduce its own artificial intelligence (AI) chatbot, named “Bard”, a new conversational AI service, according to an announcement by Google’s parent company Alphabet Inc.
Rival company, Microsoft already has its feet into AI like ChatGPT with Investment plans as further revealed in this article.
Elon Musk and Others believe AI is the future.
The hype around AI and Big Data cryptocurrency tokens was also massively influenced as Elon Musk, the Chief Executive Officer of Twitter and Electric Car Company, Tesla confirmed in a tweet that this is a big year for Artificial Intelligence (AI).
Just recently, Microsoft co-founder Bill Gates further confirmed his belief in the AI sector, saying…
“A.I. is going to be debated as the hottest topic of 2023. And you know what? That’s appropriate. This is every bit as important as the PC, as the internet,” Gates recently told Forbes.
According to Finance Yahoo, In addition to the $1 billion it invested in 2019, Microsoft revealed last month that it would invest further billions in the manufacturer of ChatGPT, OpenAI.
Conclusion
While the excitement is all over the place, there are projects that will hide in the disguise of AI integration inorder to pump their bags and thus you should be careful of these projects and avoid them.
You may need to refer back to the project’s whitepaper and roadmap to be sure there were any initial AI integration plans or they are just following the wind. This is because without further and stronger development in the field, those projects will burst like bubbles and will go down with investor’s funds as we saw during the NFT craze period.
So, it’s safe to say that AI is still early and needs further clarification and development to become stable.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any projects.
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