Could the combination of cryptocurrencies and artificial intelligence (AI) be the next $20 trillion megatrend? A recent report from asset manager Bitwise has shed light on the potential impact of AI and the cryptocurrency industry on the global economy by 2030.
According to senior crypto research analyst Juan Leon, the convergence of AI and cryptography has the potential to make a significant impact. Leon believes that these two industries could contribute a total of $20 trillion to the global GDP by 2030.
The report highlights that the race for AI supremacy is leading to a shortage of data centers, AI chips, and electricity access. The top four cloud companies, including Amazon, Google, Meta, and Microsoft, are expected to invest around $200 billion in building data centers next year to meet the increasing demand from AI companies.
In addition, the analysis suggests that the intersection of the cryptocurrency and AI industries could lead to innovations in various areas. Leon pointed out two specific examples: information validation and the advancement of virtual assistants.
The integration of AI and cryptography is expected to benefit both sectors, reshaping innovation and interactions with the world. PwC projects that AI and cryptocurrencies could add $15.7 trillion and $1.8 trillion to the global economy by 2030, respectively. However, Leon believes that their synergies could have a compounding effect, potentially increasing the combined value to $20 trillion or more.
The cryptocurrency industry and AI technology have been gaining momentum in the market since 2023. In March, Tether, the issuer of the largest stablecoin USDT, announced its focus on AI. The company plans to develop open-source multimodal AI models to establish new industry standards.
It is important to note that the views expressed in this article are for informational purposes only and do not constitute financial advice. Investing in cryptocurrencies carries a risk of financial loss.
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