Twitter and Alibaba Enter Global AI Race
Jessie A Ellis Apr 16, 2023 11:14
Twitter and Alibaba are reportedly integrating artificial intelligence (AI) into their businesses. Meanwhile, Gemini co-founders Tyler and Cameron Winklevoss have funded their business with a $100 million personal loan. This week’s Crypto Biz also covers MetaMask's new feature for purchasing cryptocurrency and Alibaba's new chatbot assistant.
In the rapidly evolving world of technology, artificial intelligence (AI) has become a focal point for many companies. Twitter and Alibaba have reportedly joined the global AI race by integrating the technology into their businesses. Twitter plans to use AI to "detect & highlight manipulation of public opinion," while Alibaba is developing its own chatbot assistant called Tongyi Qianwen.
Meanwhile, the co-founders of cryptocurrency exchange Gemini, Tyler and Cameron Winklevoss, have funded their business with a personal loan of $100 million. The move comes after previous attempts to raise capital from external investors failed. The Winklevoss brothers are funding Gemini amid regulatory scrutiny in the United States, including charges from the Securities and Exchange Commission related to the exchange's Earn program.
In addition, MetaMask has launched a new feature that allows users to purchase cryptocurrency with fiat currency directly from its Portfolio Dapp. The service is available in over 189 countries and accepts debit and credit cards, PayPal, bank transfers, and instant ACH. MetaMask claims the service follows local regulations and takes the user's location into account.
The integration of AI into businesses is not without controversy. Twitter CEO Elon Musk, who recently purchased nearly 10,000 graphics processing units (GPUs) for the platform, previously spearheaded a letter calling for the halt of advanced AI development due to societal concerns. However, many companies see the potential benefits of AI and are investing heavily in the technology.
In the cryptocurrency world, the Winklevoss brothers' loan to Gemini underscores the challenges that exchanges face in a volatile market and amid regulatory scrutiny. However, the loan also highlights the dedication of entrepreneurs to build a successful business in the face of adversity.
Meanwhile, MetaMask's new feature for purchasing cryptocurrency with fiat currency is a welcome addition for many users who find it challenging to navigate the complex world of cryptocurrency exchanges. The service's availability in over 189 countries and its acceptance of a wide range of payment methods make it an attractive option for those looking to invest in cryptocurrency.
Finally, Alibaba's entry into the AI race with its chatbot assistant underscores the company's commitment to innovation and its vast ecosystem of tech businesses. As the world becomes increasingly reliant on technology, the integration of AI into businesses will likely continue to be a significant trend. However, companies must balance the potential benefits of AI with the societal concerns surrounding the technology.
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