Why Tether Bets on AI Could Be Big for Crypto
The stablecoin issuer, with a market capitalization of more than $100 billion, has announced a strategic pivot to artificial intelligence (AI).
This expansion represents a huge move for the stablecoin as it seeks to integrate the blockchain industry and AI.
Binding to AI
Tether's goal is to play a critical role in making AI technologies more accessible and efficient. With a significant presence in a variety of industries including renewable energy, telecommunications and bitcoin mining, Tether is now positioning itself as an open and transparent supporter of AI development.
This comes at a time when the centrality of AI technologies has created debates around privacy and privacy practices. Last month, on the social media platform X, Elon Musk made a statement regarding the Ganders of AI monopolies.
Having more players in the AI space has some value. You don't want it to be just a monopoly or a duopoly,” Musk said.
Tether plans to address these concerns by focusing on the development of open source, multimodal AI models. Such efforts are aimed at democratizing AI technology, fostering innovation and expanding access. The company integrates AI solutions into market-driven products, transforming how cryptoand AI interact to solve real-world issues.
In line with its AI ambitions, the company has announced a global recruitment drive to attract top AI talent.
Tether CEO Paolo Arduino outlined the company's vision, highlighting the impact of AI on the digital and physical worlds. He emphasized the connection between Tether's investment in Northern Data Group and the company's broader goals.
“Today's announcement establishes a new chapter in Tether, redefining the boundaries of AI and democratizing privacy-preserving open AI technology to set industry standards for innovation, usability and transparency,” said Arduino.
Read more: Top 9 Artificial Intelligence (AI) Cryptocurrency in 2024
This strategic pillar of Tether marks a big moment in the integration of cryptography and artificial intelligence. It points to a future where the boundaries between these two transformative technologies are increasingly blurring, promising developments that could have far-reaching implications for both sectors.
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