The UK House of Commons Science, Innovation, and Technology Committee has called for the creation of a global alliance to combat the misuse of artificial intelligence (AI) by malicious actors. This comes as Cathie Wood, CEO of ARK Invest, predicts a transformative future through the convergence of Bitcoin and AI.
In a recent tweet, Wood expressed her optimism about the dynamic intersection of Bitcoin and AI. She believes that the interaction of these two innovative technologies will lead to profound economic changes. Wood envisions countless possibilities and positive outcomes for various industries and the overall economic landscape. She also suggests that reshaping corporate structures could result in cost savings and increased efficiency.
The UK government’s Science, Innovation, and Technology Committee’s call for a global alliance emphasizes the need for discussions on governance and regulation in light of the rapid advancement of AI. Policymakers are urged to implement frameworks that promote the positive use cases of AI while protecting against potential societal and individual risks.
The interim report from the committee highlights the necessity of a dedicated AI Law in the UK. Such legislation would enable the country to establish robust governance frameworks and maintain a leadership role in international AI regulation. Last year, the UK government proposed an innovative approach to AI regulation, and in May 2023, a group of EU lawmakers advocated for international collaboration in proposing new AI regulations to address the management of advanced AI systems.
While the UK has a history of technological innovation and regulation, keeping up with the rapid advancement of AI technology poses challenges to the proposed approach.
The current market value of AI-based crypto assets stands at $2.37 billion, with a 0.2% increase in the past 24 hours. AI tokens, which support web3 projects related to AI, tackle real-world problems such as portfolio management, image generation, and route finding. These tokens play a fundamental role in the functioning of AI ecosystems.
Among the top AI tokens in the market are Render (RNDR), Fetch.ai (FET), and SingularityNET (AGIX) with market caps of $510 million, $271 million, and $231 million, respectively. RNDR is priced around $1.37, with a 0.4% increase in the past 24 hours, while FET is valued at $0.26, showing a 1.6% increase in the same period. AGIX is trading at approximately $0.188, indicating a 0.3% decrease in the past 24 hours.
The convergence of Bitcoin and AI has the potential to revolutionize various sectors and shape the future of our economy. However, it is essential to strike a balance between harnessing the benefits of these technologies and addressing the potential risks associated with their misuse.
As governments and regulators navigate the complex landscape of AI, collaboration and global alliances are crucial. By working together, we can establish effective governance frameworks that promote innovation, protect against malicious use, and ensure the responsible development and deployment of AI technologies.
