Tesla CEO Elon Musk is forming a new artificial intelligence (AI) research lab to develop a competitor to the popular chatbot, ChatGPT.
The AI research lab will be led by Igor Babuschkin, a researcher who recently left Alphabet’s DeepMind AI, Binance News reported.
Incidentally, Meta is also pooling teams from various departments across the company to focus on building delightful AI experiences using generative AI. “We’re creating a new top-level product group at Meta focused on generative AI to turbocharge our work in this area,” Meta founder Mark Zuckerberg said in his post.
Zuckerberg said that Meta’s long-term vision is to develop AI personas that can assist users in multiple ways. They are also exploring experiences with text in WhatsApp and Messenger, as well as creative filters for images and videos.
Visa Denies Reports Of Slowing Down Plans for Crypto Products
Visa has denied reports of slowing down plans for its crypto products.
Visa’s head of crypto, Cuy Sheffield said that a Reuters report claiming Visa was slowing down their crypto pushes was “inaccurate”, Decrypt reported. Sheffield said that while there are challenges and uncertainty in the crypto ecosystem, Visa believes “fiat backed digital currencies running on public Blockchains have the potential to play an important role in the payments ecosystem.”
In October, Visa filed new trademark applications that hinted at potential plans for a crypto wallet and a metaverse product. Incidentally, Reuters had also reported that Mastercard was also slowing down its plan for cryptocurrency.
Crypto wallets are used to store and transfer digital assets. Metaverse refers to a shared virtual world online that has become a focal point for a variety of fintech and crypto companies.
2023 Will Be the Year of Crypto Token Price Divergence: Bank of America
The cryptocurrency market is off to a much better start than expected, with the token universe up by 42 per cent year-to-date to $1.1 trillion, Bank of America has said.
“We expect 2023 to be the year of token price divergence, with tokens that provide utility and a call on cash flows outperforming meme and governance tokens,” Bank of America said in a report.
According to the bank, cryptocurrencies that power smart contract-enabled Blockchain platforms, on which developers can develop applications, are growth assets that are subject to the same risks as growth stocks. The bank said these cryptos, and small-cap liquid tokens, have led this year’s rally.
