Crypto Biz: Exploring AI, Lightning Network, and Microsoft’s Developments
This week’s Crypto Biz explores the latest developments in the world of artificial intelligence (AI) and its integration with cryptocurrency. It also looks at Microsoft’s efforts to power AI development.
Elon Musk to Launch Truth-Seeking AI Platform TruthGPT
Elon Musk is set to launch a truth-seeking AI platform known as “TruthGPT,” which will be trained to explore the “nature of the universe” and address what Musk perceives as a “left-wing” bias in the industry. Musk recently spearheaded a letter calling for the halt of advanced AI development due to societal concerns.
Microsoft Developing Its Own AI Chip to Power ChatGPT
Microsoft has been developing its own AI chips since 2019 to reduce costs for its projects and reduce reliance on Nvidia’s GPUs. The move reflects a chip shortage that affected many industries worldwide during the pandemic. One of the most popular GPUs for training machine learning systems, the Nvidia H100, can be purchased for $40,000 on reseller services such as eBay amid increasing market scarcity.
MicroStrategy’s Saylor Fuses Work Email Address with Bitcoin Lightning
MicroStrategy’s CEO Michael Saylor has disclosed the integration of email addresses with the Bitcoin Lightning Network, allowing transactions using emails instead of wallet addresses. In a screenshot, Saylor showed a few transactions sent to his corporate email account in the form of satoshis, the smallest unit of Bitcoin.
European Authorities Launch Research Hub to Investigate Big Tech Algorithms
European authorities are strengthening regulations on AI projects by launching a new research hub to investigate Big Tech algorithms. A team of multidisciplinary experts will be in charge of looking “under the hood” of large search engines and online platforms to examine how those algorithms contribute to the spread of illegal and harmful content.
OpenAI Faces Regulatory Challenge to Comply with EU Laws
OpenAI faces its biggest regulatory challenge as Italian authorities insist the company has until April 30 to comply with local and European data protection and privacy laws. According to experts, this will be difficult for OpenAI since its models are trained on massive data troves, which are scraped from the internet and conflated into training sets. Under the EU’s laws, tech outfits must solicit user consent to train with personal data. Companies operating in Europe must also allow Europeans to opt out of data collection and sharing.
Conclusion
The fast-growing AI market and its integration with cryptocurrency continue to present new opportunities and challenges for businesses. As regulatory scrutiny increases, companies like Microsoft, MicroStrategy, and OpenAI will need to stay on top of the latest developments to ensure compliance with local and international laws.
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