Michael Kagan, the chief technology officer of US chip-maker Nvidia, has expressed skepticism regarding the benefits of cryptocurrencies. In a recent interview, Kagan stated that digital currencies do not "bring anything useful for society" and that other uses of processing power such as artificial intelligence (AI) are more worthwhile than mining crypto.
Nvidia is a leading player in the graphics card market and has been heavily involved in cryptocurrency mining over recent years. Despite this involvement in the industry, Kagan believes that AI technologies will play a much bigger role in shaping our future than cryptocurrencies.
Kagan is particularly enthusiastic about ChatGPT – an AI chatbot developed by Nvidia which can understand natural language conversations with humans. ChatGPT is designed to provide accurate answers to questions on any topic and could be used for customer service or educational purposes.
In contrast to his enthusiasm for AI technologies like ChatGPT, Kagan sees little value in cryptocurrencies beyond their potential use as speculative investments. He argues that they do not have any real-world applications and therefore do not bring any tangible benefits to society.
The comments from Nvidia’s CTO come at a time when many investors are piling into cryptocurrencies like Bitcoin due to fears of inflation caused by government stimulus measures during the COVID-19 pandemic. However, despite this increasing interest from investors, it appears that some industry insiders like Michael Kagan remain unconvinced about the long-term prospects for digital currencies.
While it remains uncertain how important cryptocurrency will be in shaping our future economy and society as a whole - what seems clear is that advancements made within Artificial Intelligence are set to have far-reaching implications across various industries - including finance itself!