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Reading: Cathie Wood Predicts Game-Changing Convergence Between Bitcoin and AI
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Home - Cathie Wood Predicts Game-Changing Convergence Between Bitcoin and AI

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Cathie Wood Predicts Game-Changing Convergence Between Bitcoin and AI

Mridul Srivastava
Last updated: 2023/09/07 at 11:40 AM
Mridul Srivastava September 7, 2023
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Cathie Wood Predicts Game-Changing Convergence Between Bitcoin and AI
Cathie Wood Predicts Game-Changing Convergence Between Bitcoin and AI
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Cathie Wood’s Ark Invest is bullish on the convergence of Bitcoin and artificial intelligence (AI), foreseeing transformative potential for company organization and productivity.

Contents
Ark Invest’s Optimistic Outlook on AIInnovation is not Far AwayTo Sum it All Up….

  • Cathie Wood of Ark Invest is excited about the potential of Bitcoin and AI convergence, anticipating it to revolutionize company organization and productivity.
  • She teased an upcoming podcast to explore this topic further with thought leaders.
  • Ark Invest’s recent report highlights AI’s disruptive potential and recommends alternative exposures to traditional benchmarks.
  • Examples like Bybit’s AI-based trading assistant show the early stages of AI and crypto innovation.

Investment management firm Ark Invest, founded and led by Cathie Wood, is known for its high-risk appetite and affinity for tech and innovation. Wood recently took to X (formerly known as Twitter) to share her excitement about the transformative possibilities of the convergence between Bitcoin and artificial intelligence (AI).

She believes that this convergence could completely transform the way companies organize, leading to a collapse in costs and an explosion in productivity. Wood expressed her awe at the possibilities being created by brilliant entrepreneurs.

The convergence between Bitcoin – and AI could transform the way companies organize, causing a collapse in costs and an explosion in productivity. I was blown away by the possibilities these brilliant entrepreneurs are creating. Look for this podcast on Thursday! https://t.co/kPW92CuhFQ

— Cathie Wood (@CathieDWood) September 2, 2023

Wood hinted at an upcoming podcast where she and other thought leaders would delve deeper into this topic. The podcast aims to explore the potential applications and implications of the convergence between Bitcoin and AI.

Ark Invest’s Optimistic Outlook on AI

Ark Invest published a report titled “Investing in Artificial Intelligence: Where Will Equity Values Surface?” in August 2023. The report outlines the firm’s optimistic outlook on the potential of AI. Ark Invest believes that the rapidly evolving AI landscape will disrupt major segments of traditional benchmarks.

The report highlights the consistent decline in AI training costs, making AI more accessible and cost-effective. However, Ark Invest suggests that common benchmarks may not effectively capture the opportunities presented by AI. To address this, the firm recommends that investors complement, hedge, or diversify their core benchmark exposures by investing in alternative exposures.

Ark Invest offers strategies like the Disruptive Innovation ETF (ARKK) and Next Generation Internet ETF (ARKW) as options for investors to position themselves to benefit from AI growth. Wood emphasized that while big benchmarks highlight mega tech companies, the true potential of AI lies beyond them in focused and agile companies.

Innovation is not Far Away

While innovation in the field of AI and crypto is still evolving, there are already examples that showcase the disruptive power of their combination. Bybit, a popular cryptocurrency exchange, recently launched TradeGPT, an AI-based trading assistant. According to Bybit’s blog post, TradeGPT can answer market analytical and technical questions, utilizing the machine-learning capabilities of Bybit’s in-house ToolsGPT and ChatGPT. This is part of the broader trend of cryptocurrency exchanges using AI to enhance user experience and provide market insights.

To Sum it All Up….

The convergence between Bitcoin and AI holds great potential for innovation and disruption across industries. Cathie Wood’s advocacy for innovation and her belief in the transformative power of both Bitcoin and AI make her a prominent voice in the industry. As this convergence continues to unfold, it will be interesting to see how companies and investors adapt to this game-changing transformation.

TAGGED: AI, Bitcoin, Crypto
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