Investor Buzz Shifts to AI and Real-World Assets, as Cryptocurrency Talks Quiet Down
Summary:
As nations promote AI expansion, there has been a shift in investor conversations, focusing more on the potential of AI and real-world assets, as per market data from Santiment. Despite an increasing sentiment around BTC hitting $40,000, the conversations around cryptocurrency have quieted due to market volatility. The new AI buzz, coupled with significant investments in AI by major global tech companies, seems to be reshaping the investment landscape. Furthermore, "AI" has been declared as word of the year 2023 due to substantial technological progress while US has new AI guidelines to ensure safe and ethical use.
Market data from Santiment reveals a growing investor buzz around the fusion of real-world assets and artificial intelligence (AI), as countries worldwide make strides in expanding the AI industry. In contrast, conversations about cryptocurrency prices have quieted down due to market fluctuations and stabilization, even though there is rising optimism about BTC hitting $40,000. Santiment's data suggests this shift in market sentiment toward BTC's price might be a positive sign for investors.
It's noteworthy that, despite BTC's price increase, the level of interestin Bitcoin ETFs, a critical cryptocurrency indicator, has remained relatively low, as per Santiment's data.
Screenshot of mid-term social trend keyword frequencies Source: Santiment
The engagement levels for a variety of topics such as Consumer Price Index (CPI), PayPal stablecoin, Curve drama, bull and bear markets, are even lower when compared to discussions about AI and real-world assets. It underlines the rising prominence of AI and tangible assets in global finance.
As well as excitement around AI and real-world assets, there is a substantial price boost for AI-powered cryptocurrency tokens. Companies like Google, Microsoft, and Anthropic are making significant investments in AI and propelling its development and growth, causing investors to rethink their portfolio allocation. As the global business community more thoroughly embraces AI and real-world assets, conversations around AI appear to be eclipsing those about cryptocurrency prices.
In another boost for AI, Collins Dictionary, a respected publisher of English dictionaries, has declared "AI" as the word of the year for 2023. Collins cited the considerable advances and general discussion around AI in 2023, cementing it as the "next major tech revolution."
In a related development, President Joe Biden of the United States, building on past initiatives, announced an executive order on October 30 setting out new guidelines for AI safety and security. The president's directive includes commitments on AI safety from 15 industry stalwarts and outlines six fundamental principles addressing the ethical adoption of AI in government, privacy rights for citizens, and the protection of consumer data.
Magazine: EasyTranslate chief bemoans AI-driven change in the industry.
Published At
11/1/2023 1:20:42 PM
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