Table of Contents
Tether, the crypto firm behind stablecoin USDT, is pushing into artificial intelligence (AI), according to the company’s latest announcement. The stablecoin issuer said the move is aimed at advancing the efficiency and accessibility of AI technology.
Per the announcement, Tether’s AI focus includes setting “new industry standards” and building multimodal, open-source AI models. In a statement, Tether CEO Paolo Ardoino acknowledged that AI is revolutionizing every sector, both in the digital and real worlds. He added that Tether’s investment in tech firm Northern Data Group aligns well with his company’s AI vision.
Tether Announces New AI-Related Jobs
Following the AI announcement, two AI-focused job listings have been released. Tether is looking to hire a director to head the company’s AI Research and Development division, along with an AI engineer. These positions are remote, but Tether has several office locations, some of which include Milan, London, Madrid, and Paris.
As mentioned earlier, Tether is an investor in Northern Data Group, a Germany-based tech company that focuses on offering data center infrastructure, generative AI Cloud protocols, and engaging in Bitcoin mining. The stablecoin issuer made an investment of $622 million in Northern Data Group last November.
Why Tether is Investing in AI?
According to Tether’s latest statement, the firm’s interest in the AI sector is a result of growing concerns over the monopolization of artificial intelligence technologies by influential tech firms. Tether says it aims to champion privacy and transparency in AI development.
As AI continues to disrupt every sector, more crypto projects like Crypto Innovate Bot are embracing this technology to provide their services to users efficiently.
AI Tokens Record Gains
While Tether’s USDT isn’t an AI-focused digital asset, AI tokens have seen massive gains in recent weeks as AI adoption grows. FetchAI’s FET is priced at $2.8 after increasing 10% over the last seven days, while Ocean Protocol’s OCEAN and SinguralityNET’s AGIX are trading at $1.16 and $1.13, following 7-day gains of 12.3% and 17%, respectively.
USDT is the third-biggest digital currency by market cap behind Ethereum and Bitcoin, which recently set a new all-time high of $73,700. Unlike the two cryptocurrencies, which are highly volatile, USDT is pegged to USD, meaning it’s intended to trade at $1 all the time, providing much-needed stability in the crypto market.