Why Tether Betting on AI Could Be Huge for Crypto

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.

Tether’s CEO, Paolo Ardoino, articulated the company’s vision, highlighting the impact of AI in digital and physical worlds. He also emphasized the synergy between Tether’s investment in Northern Data Group, and the company’s broader goals.

“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.

Read more: Top 9 Artificial Intelligence (AI) Cryptocurrencies in 2024

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.