2024 Forecast: Artificial Intelligence’s influence on the crypto scene

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In 2023, the year of cryptocurrency It is clear that artificial intelligence technology has played an important role in development. This has been an indicator year for investors, and of all the coins focusing on AI altcoins Nvidia shares are up several times over. The signs of what is in store for the future are beginning to emerge. Exploring the biggest AI breakthroughs of 2023.

Key AI Developments Shaping 2023


A major milestone was OpenAI’s release of ChatGPT in November 2021. ChatGPT has been adopted so quickly that the internet is clearly ready for technologies of a whole new generation more than ever before and faster even then tech giants like Facebook or Twitter.

The 2023 artificial intelligence boom also had AI-oriented altcoins soar ten times their previous value. What were the major AI advances that year?

Artificial Intelligence Milestones for 2023


2023 witnessed significant AI advancements, including:

Biden’s Executive Order on AI: Starting in November 2022, GPT became widely known. Because of its direct effects, last year on October 30 President Biden issued an Executive order that was really important–it ran to a full 63 pages all itself. This decree is to ensure that U.S. agencies strengthen guidance and reporting on risks of AI, such as the implication for automation in labor market; civil rights or privacy concerns where gender, race and ethnicity are involved; and dangers imposed by what might be unfettered proliferation of systems cutting loose from ethics or law itself (either due to lack of consideration

UK Artificial Intelligence Safety Summit: Not long after Biden issued his decree, 28 countries sent representatives to the UK’s AI Safety Summit. This Artificial Intelligence Safety Institute was established by a summit orchestrated by UK Prime Minister Rishi Sunak and led by former tech investor Ian Hogarth. Its focus on testing the security of AI language models and their dangers, led to a promise not only to use but also mindfully create and develop new language models.

EU Artificial Intelligence Act: Took over two years to develop, completed in June 2023 this act defines large-scale AI models ashigh level, regulations will include transparency and cybersecurity. For example, it is aimed at reducing the dangers of large language models and restricts certain applications in education and security fields.

Looking Ahead to 2024


Moving into the year 2024, regulations will continue to ripen. Senate Majority Leader Chuck Schumer will argue for an all-encompassing crypto law. Also, because 2024 is an election year in the U.S., we’re going to see double efforts on crypto and AI legislation coming down the pike.

UN Secretary-General António Guterres launched an AI solidarity initiative in October 2023. The method will be reports and a summit to come in September next year (September 14).

Disclaimer: This article is intended for your information only, and does not involve any recommendation or solicitation. Cryptocurrencies are volatile. Investors must do their own homework.

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About Author

James Paul is a crypto analyst and NFT enthusiast. He is a rigid follower of NFTs and writes content on Web 3.0, NFT, and Crypto. You can find him writing tutorials and guides on cryptos and NFTs on a Sunday evening.

Disclaimer: All content found on thecryptotime.com is only for informational purposes and should not be considered as financial advice. Do your own research before making any investment. Use information at your own risk.

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