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The influence of a spot Bitcoin ETF could not deter the dominance of artificial intelligence (AI) on display at the ongoing World Economic Forum (WEF) in Davos this year. This AI dominance can shift investors' focus from the spot Bitcoin ETF as capital generally gravitates to where money and sentiment flow.
AI dominates crypto despite Bitcoin ETF debut
The digital currency ecosystem obtaine its landmark achievement this year after the United States Securities and Exchange Commission (SEC) greenlit the trading of spot Bitcoin ETFs in the country.
Despite this hype, the presence of crypto companies in Davos was spare compared to previous years. On the other hand, AI entered the spotlight as the new technology kid on the block, with almost all tech firms raving about its potential at the forum in Davos. From stands showing visible AI emblems to the conversations and pitching, it was obvious that AI is considered the new future of technology.
While this trend of sending AI to the background may be a concerning one, Dante Disparte, Chief Strategy Officer for stablecoin issuer Circle, believes this is not an entirely bad trend, as it only shows that crypto is becoming mature as a tech stack.
"There's a new technology kid on the block, which means that I get to become a vintage player. And I don't have to explain the technology so much so that's encouraging," he said.
The emergence of spot Bitcoin ETF and the lack of a corresponding price surge for BTC might have dampened sentiment across the board to give AI the edge.
Collaborative push in AI and crypto
While the duo of AI and crypto are two entirely different technologies, innovators in the Web3 ecosystem are doing all they can to creatively integrate both. Thus far, the prospects are promising as the industry has seen the emergence of protocols like Cardano’s flagship AI chatbot Girolamo to Bad Idea AI, a project with affiliations with Shiba Inu.
In the long term, more direct integrations of AI and crypto are expected in the drive for the ultimate goal, which is to elevate human evolution.
Gamza Khanzadaev
Tomiwabold Olajide
Yuri Molchan
