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Artificial Intelligence: A Major Focus on Investors

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On April 18th, Evan Cheng, co-founder and CEO of Mysten Labs, stated that this shift is due to the ability of artificial intelligence products and applications to cater to a wider

Artificial Intelligence: A Major Focus on Investors

On April 18th, Evan Cheng, co-founder and CEO of Mysten Labs, stated that this shift is due to the ability of artificial intelligence products and applications to cater to a wider audience, while the encryption industry continues to focus on itself. Cheng said, “Driven by the proven value of AI technology to consumers, venture capitalists in multiple fields are increasingly turning their attention to AI investments.” He compared the explosive growth of AI to the explosive growth of cryptocurrencies since 2017: “ChatGPT has emerged, (developers) We are building products and applications for consumers and developers – a wide range of large-scale use cases are immediately possible, while in the field of encryption, the industry has been developing products for cryptographers （Decrypt）

MystenLabs co creation: Artificial intelligence products can cater to a wider audience, while the encryption industry always focuses on itself

Artificial Intelligence (AI) has been around for a while, but its growth is proving to be anything but slow. In recent times, this technology has garnered massive attention from investors. On April 18th, Evan Cheng, the co-founder and CEO of Mysten Labs, declared that AI is being chosen over encryption by investors. This shift is due to the ability of AI applications/products to cater to a wider audience, while the encryption industry continues to focus on itself.

The Proven Value of AI Technology to Consumers

As an industry in its infancy, AI technology is still finding its footing. However, the technological advancements in recent years have shown that AI has massive potential in the market. Consumers are drawn to AI products and applications because of their ability to improve their daily lives. From virtual assistants like Siri and Alexa to medical diagnoses, AI is finding application in every field imaginable. The success of AI is evident from the increasing investments made in the industry.

Investors Drawn to AI Investments

As more consumers embrace AI technology, investors are following suit. Venture capitalists are increasingly drawn to AI investments due to its proven value to consumers. AI has an immediate impact on people’s day-to-day lives, which ultimately translates into a faster return on investment for investors. Cheng attributes the explosive growth of AI to the explosive growth of cryptocurrencies since 2017. Just like cryptocurrencies, developers are building AI products and applications for consumers and developers. This shift allows for a wide range of large-scale use cases, making AI more attractive and viable for investors.

Cryptography Industry vs. AI Technology

The cryptography industry, on the other hand, has been developing products for cryptographers. This focus is making it challenging for investors to invest in the industry. Unlike AI, the market for cryptography is limited to a specific group. Therefore, it makes less appealing to investors as compared to AI.

Conclusion

In conclusion, the shift from encryption to AI investments by venture capitalists is due to the proven value of AI technology to consumers. The AI industry shows massive potential, thanks to its ability to cater to a wider market. Investors are attracted to the immediate impact AI has on consumers, resulting in a faster return on investment. In contrast, the cryptography industry is limited to a specific group, making it less viable for investors. AI technology’s explosion is set to continue, with more investors recognizing its potential.

FAQs

Q1. Is AI still expensive?
A1. The cost of AI products and applications are decreasing, making it more affordable for consumers, and more attractive to potential investors.
Q2. What is cryptography, and how does it differ from AI?
A2. Cryptography is the practice of secure communication in the presence of third parties. Unlike AI, the market for cryptography is limited to a specific group of people, making it less appealing to investors.
Q3. Why is AI technology attractive to investors?
A3. AI has an immediate impact on people’s day-to-day lives, which ultimately translates into a faster return on investment for investors.

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