what it means for crypto AI projects

what it means for crypto AI projects

  • OpenAI CEO is touring Asian capital cities.
  • The CEO is currently touring Tokyo and is also expected to visit Singapore, Indonesia, and Australia.
  • The CEO says he is optimistic about global AI coordination, which is a good thing for AI-based crypto projects.

The CEO of ChatGPT developer OpenAI, Sam Altman, on Monday, stated that he was “quite optimistic” about the prospects for international cooperation in artificial intelligence (AI) following a tour of Asian capital cities.

OpenAI, which is backed by Microsoft Corp, has been making an effort to take advantage of the surge of interest in generative AI. It also wants to influence regulations for the field.

Speaking to students in Tokyo, Japan, Altman said:

“I came to the trip sceptical that it would be possible in the short term to get global cooperation to reduce existential risk, but I am now wrapping up the trip feeling quite optimistic we can get it done.”

Also, in a meeting with Prime Minister Fumio Kishida during his April visit to Japan, Altman expressed his interest in setting up a local office in the country. Despite the fact that its major manufacturing players are investing heavily in automation technology, Japan is viewed as a laggard in AI.

The CEO is due to visit Indonesia, Australia, and Singapore, before returning to the US.

AI regulations around the world

The use of generative AI that can generate text and images has instilled both excitement and fear for its potential to reshape a wide range of industries. As a result, regulators are frantically trying to adapt current rules and create new guidelines for the AI industry.

While the United States is leaning toward adapting existing laws for AI rather than creating new legislation, the European Union lawmakers have already passed a landmark artificial intelligence regulation.

The passed EU artificial intelligence that will be called the AI Act would ban systems that are considered to pose “unacceptable” risks to human lives. The act is expected to put European governments on a collision course with US tech giants who have invested billions in AI technology.

Most of the proposed AI regulations seek to ensure the systems do not interfere with the lives of humans, which is a good thing for AI-based cryptocurrency projects. Most AI-based crypto projects combine blockchain and artificial intelligence technologies to process data to aid in ensuring efficient financial transactions including financial trading; meaning they are less likely to be negatively affected by the proposed regulations.

Popular AI-based crypto projects in 2023

Although AI-based cryptocurrencies were not spared in the recent crypto market decline following the US SEC onslaught on cryptocurrencies, they have been performing quite well since ChatGPT was launched last year. The number of AI-based cryptocurrencies has also exponentially grown following the many new blockchain projects leveraging AI technology to address different challenges.

AltSignals, a trading signals platform, is one of the most recent entrants in the industry with its new AI-based cryptocurrency called ASI, which is currently in the presale stage. The platform’s new AI project has gathered a lot of popularity seeing that the first stage of the ASI presale was 92.43% sold out at press time.

At the moment, the top five largest AI cryptocurrencies by market cap according to Coingecko are Render (RNDR), SingularityNET (AGIX), Fetch.ai (FET), Ocean Protocol (OCEAN), and Akash Network (AKT). The largest, Render, has a market cap of $651,359,605, while the fifth, Akash Network has a market cap of $99,731,536.

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