During his appearance at the SALT Wyoming conference, Ripple CEO Brad Garlinghouse has stated that Ripple is fully embracing artificial intelligence (AI).
"I have a somewhat contrarian view on some of this," Garlinghouse stated. "Ripple has adopted AI aggressively. I think if you are in a growing business, a growing category, and taking share, AI is an enabler and an accelerant."
Garlinghouse does not believe that AI is the reason behind some high-profile corporate downsizings. "When I see companies announce big layoffs and they say, 'Oh, well, AI X, Y, and Z,' that to me says, 'Well, they were bloated before and they're using this as an excuse.'"
Instead, he framed the technology as a tool for expansion: "AI, if you are in a business that has opportunity to grow and you're serving customers and have compelling solutions, AI just lets you do that better and faster and stronger."
Ripple's expansion
He pointed to Ripple's own expansion. "Ripple has 150 open positions right now. We're 1,500 people around the world, and we're going to continue to grow because our business is growing quickly, and AI just helps us grow into that."
Weathering the bear market
Garlinghouse also took note of Ripple's ongoing success that came despite various market headwinds. "We are in the bear market," he acknowledged, but added, "Ripple's going to have a record year. We'll more than double revenue year on year."
He attributed this success to the company's long-term focus on infrastructure. "More and more people are realizing that the infrastructure side, the institutional side is where it's at," he said. "Ripple somewhat controversially has always been focused on the kind of bridge between traditional finance and decentralized finance."
U.Today Editorial Team
Dan Burgin
