Tether, a stablecoin issuer with a market capitalization surpassing $100 billion, has announced a strategic pivot towards Artificial Intelligence (AI).
This expansion signifies a bold move for the stablecoin giant, as it seeks to merge the blockchain industry and AI.
Tether Pivots Into AI
Tether’s intent is to play a pivotal role in making AI technologies more accessible and efficient. With its significant presence in various industries, including renewable energy, telecommunications, and Bitcoin mining, Tether is now positioning itself as a proponent of open and transparent AI development.
This comes at a time when the centralization of AI technologies has sparked debates around privacy and monopolistic practices. Last month, during an event on social media platform, X, Elon Musk made a statement regarding the ganders of AI monopoloes.
“There’s some value to there being multiple players in the AI space. You don’t want it to be just a monopoly or duopoly,” Musk said.
Tether plans to address these concerns by focusing on the development of open-source, multimodal AI models. Such efforts aim to democratize AI technology, fostering innovation and broadening access. The company will also integrate AI solutions into its market-driven products, transforming how cryptoand AI intersect to solve real-world issues.
In tandem with its AI ambitions, the company has announced a global recruitment campaign to attract top artificial intelligence talent.
“Today’s announcement establishes a new division within Tether, redefining AI boundaries and democratizing privacy-preserving open AI technology while setting industry benchmarks for innovation, utility, and transparency,” Ardoino said.
This strategic pivot by Tether marks a significant moment in the convergence of cryptocurrency and artificial intelligence. It suggests a future where the boundaries of these two transformative technologies are increasingly blurred, promising advancements that could have far-reaching implications for both sectors.
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