Artificial Intelligence (AI) and Crypto could together add $20 trillion to the global economy by 2030, according to a report from asset manager Bitwise released on Wednesday. “The intersection of AI and Crypto is going to be even bigger than people imagine,” wrote Juan Leon, principal Crypto research analyst, adding that “the two industries could collectively add $20 trillion to the global gross domestic product (GDP) by 2030.”
“The race for AI supremacy is creating an unprecedented shortage of data centers, AI chips, and access to electricity,” said Leon, highlighting that the four largest cloud computing companies are expected to spend around $200 billion on data center construction by 2025 to meet the increasing demand from AI companies.
Bitcoin miners have all the resources that AI companies need, including powerful chips, high-tech cooling systems, and the accompanying infrastructure, according to the report. The recent acquisition offer from CoreWeave for miner CORE Scientific is evidence of this demand. CORE Scientific also announced the largest miner/AI partnership to date, with a $3.5 billion deal to host CoreWeave’s AI-related services. Bitwise also noted that Hut 8, Iris Energy, and other miners have announced AI hosting initiatives this year.
Crypto and AI have the potential to intersect in areas beyond Bitcoin mining, such as information validation and virtual assistants, the report adds.
Edited by Oliver Knight.
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In addition to the insights provided in the original article, it is important to note that the collaboration between AI and Crypto is expected to revolutionize various industries, including finance, healthcare, and logistics. The integration of AI technologies with blockchain can improve data security, streamline processes, and enhance decision-making capabilities. Furthermore, the growing demand for AI-powered solutions is driving the need for efficient and sustainable infrastructure, which can be supported by the existing resources of the crypto mining industry. As companies continue to explore the potential of AI and Crypto integration, new opportunities for innovation and growth are likely to emerge, shaping the future of the global economy.