According to the Chief Technology Officer of Nvidia, a U.S.-based chip maker, AI applications like Chatgpt are more beneficial than cryptocurrencies as they offer “something useful.” He does not think that virtual currencies bring anything worthwhile.
Intel, who has seen considerable success in the sales of its powerful processors used to mine digital coins, CEO Bob Swan made a controversial statement in stark contrast to this success. He said that cryptocurrency mining should not be supported.
Making Chatbots More Profitable Than Cryptocurrency Mining
The executive of Nvidia, which sells large numbers of video cards to the industry, expressed that cryptocurrencies do not offer beneficial use for society, despite the company itself being a key supplier.
Nvidia’s Chief Technology Officer, Michael Kagan, asserted that using their processing power for applications such as AI-powered Chatgpt chatbot is more beneficial than mining cryptocurrencies. He relayed this to the Guardian when asked about other potential uses of their technology.
Two years ago, the U.S. tech firm, which is known as a major supplier of AI hardware and software, didn’t show much interest in the crypto market by attempting to block its GPUs from being used to mine ether (ETH), then known as the second-largest cryptocurrency among miners.
Nvidia’s decision to prioritize certain customers, namely gamers and AI researchers, by ensuring enough supply for them was completely justified, according to Kagan, who cited the limited value of the potent processors in cryptocurrency mining as proof.
Kagan says:
“All this crypto stuff, it needed parallel processing, and [Nvidia] is the best, so people just programmed it to use for this purpose. They bought a lot of stuff, and then eventually it collapsed, because it doesn’t bring anything useful for society. AI does,”
“With Chatgpt, everybody can now create his own machine, his own program: you just tell it what to do, and it will.”
Nvidia, renowned for its powerful GPUs, provided the computing prowess to support an AI chatbot’s initial development with a supercomputer built using 10,000 devices.
Microsoft acquired Nvidia’s A100 GPUs, designed for AI applications, in large quantities to be provided to Openai, which Microsoft backs up financially.
Nvidia sold 20,000 H100 chips to Amazon’s cloud service (AWS) and 16,000 more to Oracle. This was the successor of the 20,000 P100 chips previously sold by Nvidia to AWS, as reported by a British daily.
Through its DGX cloud service, Nvidia has rented access to its chips and participated in various AI projects. Last week’s annual conference featured CEO Jensen Huang discussing the company as ushering in an “iPhone moment of AI” and believing their “generative AI” will revolutionize many industries.
As artificial intelligence and cryptocurrencies become more intertwined, they increasingly compete for resources such as those offered by Nvidia. These two fields will continue collating as both strive for similar objectives in the coming years.
Coinbase, last week, investigating the results of Chatgpt as a tool for pre-listing risk assessment of tokens that they had tested, announced their determination.
Nvidia’s recent tech executive statement on cryptocurrencies and artificial intelligence has many views. What is your opinion of the matter? Please share your ideas in the comments section below.
Being a writer is the core of Lubomir Tassev’s identity, words which blogger Hitchens said. An Eastern European, he draws inspiration from cryptocurrency, fintech, blockchain technology, international politics, and economics.
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The demand for AI solutions such as ChatGPT will only increase as the world becomes more reliant on technology. Therefore, businesses and individuals must stay informed about the latest developments in this field and explore how they can integrate AI into their operations.
Overall, the statement made by Nvidia Tech Chief serves as a reminder of the immense potential of ChatGPT and the role it can play in shaping the future of various industries.
Source: news.bitcoin.com
