AVAX CEO: “Artificial Intelligence Is Promising But…”

Emin Gun Sirer, CEO of Ava Labs, says smart trading bots show promise, but more crypto cycle training data is needed.

Despite all the excitement artificial intelligence has brought in the crypto industry, Ava Labs CEO Emin Gun Sirer has yet to be impressed. Despite his skepticism, Sirer is not trying to instill FUD (fear, uncertainty, and doubt) around the wave of AI-driven projects that are beginning to evolve in the blockchain industry.

According to CoinMarketCap, the category, which includes artificial intelligence tokens such as Fetch and Singularity, accounts for $5 billion of the $1 trillion crypto market. That figure has nearly doubled since the end of January, when the category generated $2.7 billion.

Ava Labs CEO says:

“Imagine what you could do with a smart bot that can digitize, send, buy, trade assets using a uniform interface. This is going to be incredibly new, I think asset pricing will no longer be determined by humans, but by bots, by algorithms. “Sirer says computer scientists need to find a way to stop AI from replicating gender or racial prejudices.”

Also, Sirer would like to see bots, especially those who trade with AVAX, learn to recognize black swan events. Sirer recalled that AVAX, the native token of the Avalanche network, suffered some damage from the news that crypto exchange FTX filed for bankruptcy in November. This happened despite the Avalanche being pretty well insulated from direct exposure to Sam Bankman-Fried’s collapsed empire.