Nvidia’s chief technology officer Michael Kagan recently said cryptocurrencies do not bring anything useful to society and that artificial intelligence (AI) is of more use, citing chatbot ChatGPT as an example. Not only are these digital currencies not beneficial for everyone, the climate damage due to cryptocurrency mining has surpassed beef production and the mining of multiple precious metals combined.
This statement has been met with shock, being that Nvidia sells graphics processing units (GPUs) for crypto mining and have even released software to try and block it back in 2021. The chips from Nvidia are usually used to render graphics and images in gaming, as well as for use in smart cars, robotics and AI – including firms like Tesla and Amazon.
ChatGPT focused on generating human-esque answers and since its release, it has been utilized to create essays, prescribe drugs, fake job applications and other creative tasks. To Microsoft, it was so impressive that they purchased tens of thousands of Nvidia’s AI-focused GPUs to power OpenAI, the company behind ChatGPT.
OpenAI then created an even more powerful model called GPT-4, which it claims could be ‘harmful’. This scared Google, who had begun to create their own chatbot called Bard- which as they say, “was released in the ‘coming weeks’, but aired a video with incorrect information causing their stock to go down instantly.
Nvidia Corporation is an American global technology company with operations worldwide. It manufactures chips for computing, gaming, and AI applications and has seen tremendous growth in the past decade due to the advancements in technology worldwide. In the past year, the company’s market value has reached a peak of $219 billion USD.
Michael Kagan is an American entrepreneur currently holding the position of Chief Technology Officer for Nvidia Corporation. He has been a regular speaker at tech conferences and has been closely associated with the development and application of AI technology. His expertise in the field has been recognised with awards and nominations like the Open Source AI Award in 2019.
