Michael Kagan, the Chief Technology Officer of the chip maker Nvidia, believes that cryptocurrencies are “useless” to society. On Mar. 26, Kagan said that Artificial Intelligence (AI) solutions like ChatGPT, which was trained using over 10,000 Nvidia chipsets, are much more productive and reliable. Nvidia has profited off of cryptocurrency miners who relied on their graphic cards for their mining needs. Before Ethereum switched to its proof-of-stake algorithm, Nvidia cards were widely used for the same.
To avoid any negative impact on other sectors, Nvidia had to set limits to the various applications for its graphic cards, which Kagan stated need “parallel processing” to perform optimally. Kagan compares crypto to high-frequency trading, claiming that it fails to do anything meaningful for the entire human species. This statement follows a report from the White House, claiming that cryptocurrencies present several challenges to American users and has no real intrinsic value.
Nvidia is one of the leading chip manufacturers and has been a driving force in the world of AI. Their GPUs are used by researchers and companies across various sectors ranging from deep learning to artificial intelligence and graphics. They develop cutting-edge processors for desktop computers as well as for data centers for various computing needs.
Michael Kagan has a decade of experience in the technology industry, with a specialty in artificial intelligence. He previously worked for Google for several years and has expressed his optimism for AI, which he believes will be a true game-changer. He has overseen the development of software frameworks such as the ChatGPT, which is expected to be hugely disruptive in customer service, sales and other areas.
