{"id":312330,"date":"2024-05-29T16:19:39","date_gmt":"2024-05-29T10:49:39","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=312330"},"modified":"2024-05-29T16:19:39","modified_gmt":"2024-05-29T10:49:39","slug":"crypto-like-bubble-possible-in-ai-says-nobel-laureate-romer-ai-coins-to-suffer-crypto-news-2","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/crypto-like-bubble-possible-in-ai-says-nobel-laureate-romer-ai-coins-to-suffer-crypto-news-2\/","title":{"rendered":"Crypto-Like Bubble Possible In AI Says Nobel Laureate Romer, AI Coins To Suffer? – Crypto News"},"content":{"rendered":"

<\/p>\n

\n

Nobel laureate Paul Romer\u2019s recent comments on AI\u2019s<\/a> future have served as a wake-up call for the global AI-crypto community. Speaking at the UBS Asian Investment Conference in Hong Kong on Wednesday, May 29, Romer, an American economist, urged for a careful evaluation of the current state of artificial intelligence, drawing parallels to the crypto hype bubble of\u00a0two\u00a0years\u00a0ago.<\/p>\n

The economist said to Bloomberg TV, \u201cWhen people project this forward (pointing towards the burgeoining confidence in AI globally), I think they\u2019re at risk of making a very serious mistake.\u201d In context, the sudden rise of AI, further accompanied by exaggerated market confidence in the tech\u2019s future, may be short-lived.<\/p>\n

<\/p>\n

A Closer Look Into The Report<\/h2>\n

While recent advancements like OpenAI\u2019s ChatGPT and xAI\u2019s Grok, among many others, have sparked excitement and massive investment in AI infrastructure, Romer highlights the danger of assuming that the current rate of improvement will continue indefinitely. The economist also draws attention to the rise of tech giants Microsoft Corp., Alibaba Group Holding Ltd, and Nvidia Corp<\/a>, which became multitrillion-dollar companies as AI demand spiked globally.<\/p>\n

However, the former World Bank economist stressed, \u201cWe\u2019ve benefited from scaling up compute and ingesting a whole lot of data. Scaling up computing is pretty easy. It\u2019s just more machines, and more chips. But what\u2019s going to happen is we\u2019re not going to have enough data.\u201d<\/p>\n

This statement has raised eyebrows across the global AI landscape, with investors exercising caution when scoping in on AI coins as well. Should optimism, growth, and investment in AI, a tech said to have infinite capabilities, encounter a hurdle that is itself finite in nature, as Romer stated, the market could witness a bustle.<\/p>\n

<\/p>\n

<\/p>\n

Also Read: Top Reasons Why PEPE Price Rally Might Flip Polygon (Matic) Soon?<\/a><\/strong><\/p>\n

AI Coins To Bore The Brunt?<\/h2>\n

Meanwhile, the market cap of AI and Big Data cryptos fell 0.58% today, May 29, to $40.63 billion. Further, the trading volume saw a 4% decline from yesterday, resting at $2.67 billion.<\/p>\n

A recent report by CoinGape Media spotlighted that despite AI\u2019s recent growth and popularity, meme coins<\/a> have surpassed investor expectations by offering better ROIs.<\/p>\n

<\/p>\n

Moreover, in tandem with this, Romer predicts that in two years, people may realize they overestimated the newly emerged tech\u2019s progress, likening the present enthusiasm to a bubble. However, the broader industry sentiments remain optimistic on AI coins<\/a>\u2018 potential ahead.<\/p>\n

Also Read: Ripple CTO Defends Joe Biden\u2019s Gag Order Plea In Trump Trial<\/a><\/strong><\/p>\n

<\/p>\n

<!– <\/p>\n

<\/div>\n

–><\/p>\n

\n
\n

\u2713 Share:<\/p>\n

<\/a><\/p>\n

\n <\/p>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

<!– <\/p>\n

\n
\n
\n
\n

<\/p>\n

\"\"<\/div>\n
Top Crypto Marketing Firms \/ Agencies 2023; Here\u2019s Best Picks [Updated]\n <\/div>\n

<\/a><\/p><\/div>\n<\/p><\/div>\n

\n
\n

<\/p>\n

\"\"<\/div>\n
Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n

<\/a><\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

–><\/p>\n

\n
\n
\n
\n
\n<!–<\/p>\n
<\/div>\n

–><\/p>\n

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article. <\/p>\n<\/p><\/div>\n

\n \"\"\"\" <\/div>\n<\/p><\/div>\n<\/p><\/div>\n
\n

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

<!– <\/p>\n

\n
\n Crypto Stories<\/span><\/p>\n

View all<\/a>\n <\/div>\n

\n
\n
\n
\n <\/p>\n
\"5<\/div>\n
5 Important Highlights from the Recent Fed Meeting <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n
\n
\n <\/p>\n
\"ChatGPT's<\/div>\n
ChatGPT\u2019s Next Big Upgrade: What You Need to Know <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n
\n
\n <\/p>\n
\"5<\/div>\n
5 Reasons behind Mega Bank\u2019s 2024 Ethereum Price Prediction <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

–><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Nobel laureate Paul Romer\u2019s recent comments on AI\u2019s future have served as a wake-up call for the global AI-crypto community. Speaking at the UBS Asian Investment Conference in Hong Kong on Wednesday, May 29, Romer, an American economist, urged for a careful evaluation of the current state of artificial intelligence, drawing parallels to the crypto […]<\/p>\n","protected":false},"author":2,"featured_media":312336,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-312330","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/312330","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=312330"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/312330\/revisions"}],"predecessor-version":[{"id":312342,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/312330\/revisions\/312342"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/312336"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=312330"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=312330"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=312330"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}