[Music] It's no secret that artificial Intelligence is all the rage right now And according to crypto advisory firm Architect Partners AI is pulling some Investment dollars away from other Technologies including blockchain take a Look at this chart showing total private Financings across Ai fintech and crypto Since the second quarter of last year AI Has attracted the most investment in Q2 Of this year AI private Investments Totaled more than $40 billion far Surpassing the other two technologies But Ai and blockchain don't have to be At odds there is likely uh early stage Capital funding that is being allocated To AI versus allocated to crypto uh Ultimately one of the things about Blockchain as a technology is it plays Pretty well with other Technologies and When you think about the combination of What AI plus blockchain and plus other Emerging technologies will be because All of this will eventually merge Together uh it's going to be it's going To lead to a much stronger environment I Expect the combination of AI plus Blockchain and crypto to be a powerful Go forward investable theme in fact in June bitwise Asset Management forecasted That crypto and AI could add a Collective 20 trillion to the global Economy by 2030 we're at the beginning
Of an AI boom that's already made Nvidia One of the largest companies in the World due to the demand for its GPU Chips now the race for this AI Supremacy Is also creating an unprecedented Shortage of HPC high performance Computing data centers and that's where Miners come in crypto miners Traditionally mine Bitcoin uh but with The Advanced Data Centers that they have They are seeing the opportunity to Partner with AI companies in order to House them for their AI services that Are developing and that is giving Crypt Miners a new Revenue stream that Diversifies their Reven New Opportunities and is creating huge Growth for these miners revenue from Crypto mining has been sinking following The Bitcoin having in April which caused The business of generating new tokens to Become much less profitable many Bitcoin Mining firms are turning to other Sources of revenue with some Retrofitting existing facilities to Service AI clients mining facilities are In high demand given their access to Fiber lines and large amounts of power Across the US in June Bitcoin miner core Scientific announced an expanded deal With cor weave an Nvidia back startup That is one of the main providers of the Chipmakers technology for running AI Models core Scientifics said in total
The partnership will generate nearly $5 Billion in Revenue over 12 Years also in June Bitcoin minor hut8 said it raised $150 million in debt from private Equity From kotu to help it build out its data Center portfolio for AI I think we will See more deals I think it's you know Certainly positive for the industry it's Positive for the minor if you think About you know Bitcoin miners their kind Of sole job has been to acquire cheap Electricity and computing power to mine Bitcoin and they were you know early to That game and so all of a sudden when You know AI emerged as you know a very Compelling use case with rapid adoption That we haven't seen since the internet Of the late 90s frankly now all of a Sudden the supply and demand overlap Between what the Bitcoin miners have Which is power contracts and big Footprints and now the new demand coming From these Ai and HPC these kind of high Processing Computing centers is a Perfect match in its note bitwise Asset Management also points to other Opportunities for AI and crypto one of The longer term opportunities Information validation another virtual Assistance today we have SIMPLE agents Like Siri or Alexa that can can help us Do very simple things you know you can It can help you make a call it can help Pull up directions but they can't really
Do very complex things yet so we think The opportunity with these AI agents is That crypto through smart contracts and Through cryptocurrencies can help them Become much more efficient at doing more Complex tasks we think that opportunity Is really exciting not only for Individuals but for businesses in Enhancing productivity and allowing them To operate with smart contracts that can Unlock functionality vek also sees the Potential of the merging of AI and Crypto in February the global investment Manager released its crypto AI Revenue Predictions forecasting Revenue will Reach $1.2 billion by the end of the Decade in its base cas case Matthew Seagull head of digital assets research At benx says he thinks there will be a Quote flourishing Market to establish Identity on the internet in order to Establish that you are a person crypto Can help with that without revealing who You are and that can be a killer app for This ecosystem the most famous project That is attacking this problem is Sam Alman's World coin uh which literally Ask you to scan your eye into an orb uh And then you get aird dropped some World Coin tokens and perhaps that that can Generate a a circular economy where all The participants are known to be human That project has attracted negative Attention when in reality when you
Compare it to the alternative which is Perhaps only the government knowing all Of our Biometrics and what happens if The government data is hacked there are Plenty of willing participants for the Private sector alternative The open- Source alternative and we think that Establishing identity could be one of The killer apps that combines crypto and AI then there are some who have concerns Tied to the convergence of AI and crypto AR jeweles Chief scientists at chainlink Labs argues that there are misleading Narratives tied to the integration of The Technologies including that Blockchain can combat misinformation Caused by generative AI blockchains are Not magically going to enable us to Distinguish deep fakes from real content They can help but they're they're simply Not a full-blown solution what they can Provide are timestamps and audit Trails For Content so if you for instance see a Photo of a UFO hovering over the Washington Monument say uh blockchain May help you determine that the content I wouldn't even say photo because it Could have been generated by an AI tool But that this content was created before A certain time and it might also help You determine that it was created by a Particular entity but what you don't get Is a direct assurance that this thing is An actual photograph and that it wasn't
Doctored or produced by an AI tool and The other thing that a blockchain isn't Going to give you is the full context in Which the image was produced my concern With the kind of merger of these two Technologies is more so like I guess Narratively that there's a lot of people Who are building things that they claim To be you know useful applications of These two things and uh it's very rare To see you know real real innovation in The space I think that there's been this Wave of kind of you know quasi Builders Who have seen the AI hype and think that Okay if I slap on AI to my crypto Project Suddenly It's a legit legitimate Project um I think there's those are Diamond dozen but there are very real Companies that are building I think Important use cases in AI both in data Authentication and in privacy San ragati Is the co-founder of the defi protocol Veta which plans to incorporate AI my View is that within the next 2 years we Will see AI agents that are capable of Entirely autonomously managing Portfolios on behalf of people and will Be the best at doing so meaning from a Risk management perspective from an Optimization perspective uh we will see Fully autonomous systems as of today we Don't have that uh but what we do have Is AI playing a role alongside humans in These operations I think we initially
Will see humans and AIS working together That's what we have in production today Actually but we're definitely building For an fully AI future
