Crypto in free fall: AI triggers a High-Tech earthquake and shakes its throne!

Davos 2024, a place once dominated by the flamboyant parades of crypto, has seen a new star emerge: artificial intelligence (AI). As blockchain players packed up, AI settled in with confidence, boldly declaring: “The future is AI”. A high-tech revolution is underway, and crypto, yesterday’s rebel, now seems to be relegated to the background.

The Rise of Artificial Intelligence in Davos: Crypto Steps Aside

Global technology giants have quickly pivoted to AI, leaving behind Davos’s crypto promenades to promote their latest innovations in artificial intelligence. Companies like Intel and Salesforce proudly displayed their AI slogans, signalling a change of era.

Compared to previous years, when cryptocurrency was the undisputed queen, 2024 saw a significantly reduced presence of this sector. Spaces once occupied by crypto symbols have transformed into AI showcases, illustrating a notable shift in interest.

While crypto seems to be going through a phase of reflection and integration, AI is experiencing explosive growth in terms of investments. With sums approaching $600 million invested in a quarter, AI is undeniably the new darling of investors.

The Shift in Tech’s Focal Point

The predominance of AI on the Promenade at Davos symbolizes a shift in interest and leadership in the high-tech world. Companies like Nvidia have seen their stock soar, a sign of the growing fascination with AI.

The crypto industry, while accepting this change of guard, remains active. According to Dante Disparte of Circle, the sector must now focus on the narrative around blockchain technology rather than on pure outcomes.

Crypto is not bowing out of the game. It is rather preparing for a convergence with traditional financial systems, reminiscent of the early days of the Internet and its evolution towards a more mature and stable phase.

Crypto and AI, a Complementary Future?

Although AI seems to have taken the upper hand, the coexistence of crypto and AI could prove beneficial. Innovation in one can fuel progress in the other, creating a rich and diverse technological ecosystem.

Despite the hype around AI, crypto continues to evolve and adapt. The recent approval of a bitcoin ETF by the SEC is an example of the growing recognition of crypto as a legitimate asset class.

The ongoing high-tech revolution is not an eclipse of cryptocurrency, but rather an expansion of the technological landscape. Crypto and AI, together, could redefine our digital future.

Davos 2024 marks a turning point in the high-tech world, with AI rising to prominence, temporarily relegating crypto to second place. However, far from being an end, this could signify a new start for cryptocurrency, which continues to forge its place in a world undergoing technological change.

The future undoubtedly holds surprises, where crypto and AI will play complementary roles in the transformation of our society. Discover how AI can help you earn bitcoins.