Bitcoin and AI Set to Revolutionize Industries, According to ARK Invest CEO
The CEO and founder of ARK Invest, Cathie Wood, has discussed the potential for artificial intelligence (AI) and Bitcoin (BTC) to merge and bring about substantial cost reductions and enhanced efficiency.
She noted that the integration of AI and digital assets could fundamentally transform how companies operate.
Cathie Wood mentioned in a social media post that the convergence of AI and Bitcoin has the potential to reshape corporate structures, driving down expenses and unleashing unprecedented levels of productivity. She expressed her excitement about the innovative possibilities being explored by visionary entrepreneurs.
In a recent report, ARK pointed out that advanced chatbots like OpenAI’s ChatGPT could disrupt prominent online marketplaces such as Apple’s App Store and Google’s search engine. This disruption could challenge the dominance of established market leaders.
OpenAI’s product plugins for ChatGPT enable chatbots to interact with external data and services, facilitating real-time web searches, local grocery orders, and cost-effective bookings for flights, hotels, and rental cars worldwide.
Based on ARK’s research, AI software could increase the productivity of knowledge workers globally by up to four times by 2030. Considering a knowledge worker wage base of $32 trillion, this advancement could significantly reduce overall costs.
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In a recent video update, Wood also discussed the potential for efficiency gains resulting from the convergence of Bitcoin and AI. She highlighted the possibility of eliminating excessive fees associated with card-based transactions, making payment systems significantly more efficient.
According to Wood, one of the most promising opportunities lies in eliminating the transaction fees inherent in traditional financial systems. Transactions through these systems typically incur fees ranging from 2.5% to 4% unless cash is used. The convergence of Bitcoin and artificial intelligence could render these intermediaries obsolete, ultimately reducing these transaction costs.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
