The 2024 World Economic Forum in Davos is buzzing with excitement, but this year’s focus has shifted dramatically. While cryptocurrency once commanded the attention of attendees with its extravagant displays and bold claims, it has now taken a step back as artificial intelligence (AI) claims the spotlight.
Tech giants such as Intel, Salesforce, and Swisscom are now scrambling to showcase their AI prowess, adorning their properties with AI slogans and hosting dedicated event spaces like the “AI House.” This surge in AI investment has been fueled by the explosive popularity of ChatGPT and the fierce competition for technological leadership.
PitchBook’s reports on investment trends reveal a surprising shift – there has been a sixfold increase in AI investments compared to startups in the Web3 and DeFi sectors. Nvidia, known as the poster child of the AI market, experienced a staggering 239% surge in stocks throughout 2023. With these remarkable figures, it’s evident that the AI hype is far from fading anytime soon.
Meanwhile, the crypto industry seems unfazed by its diminished presence at Davos. Dante Disparte, a crypto advocate with years of experience attending the event, sees this as a positive sign of the technology’s maturation. Disparte compares the current state of crypto to the dotcom bubble, noting that it cleared the path for a more stable internet. This shift indicates that crypto is becoming a behind-the-scenes technology, focusing on legitimacy rather than flashy gimmicks.
Although major crypto players like Circle and CasperLabs still maintain a presence, the overall atmosphere surrounding cryptocurrency is subdued. Despite Bitcoin’s impressive 150% rally in 2023 and the recent approval of a Bitcoin ETF, the industry is placing more emphasis on consolidating its position rather than engaging in flashy promotions.
As the curtains rise on Davos 2024, it becomes clear that AI has taken center stage while cryptocurrency continues to evolve in a more subtle manner. The future of technology seems to be driven by code, making AI the main player in the ongoing technological revolution.
The source of the article is from the blog bitperfect.pe