03-29-2023 icon

National Executives Should be Wary of AI, not Digital Currency, Galaxy Digital Chair

By Lucy Adegbe

Mike Novogratz, the chief executive officer of virtual property investment company Galaxy Digital noted to shareholders that he feels surprised at the magnitude of managerial attention for digital currency instead of Artificial Intelligence (AI), a technical innovation he thinks is likely to activate a profound false identity challenge.

Novogratz highlighted at the company’s group call section, on Tuesday, that the United State executives have misplaced priorities by taking the option of focusing more on digital currency management while ignoring AI:

“When I think about AI, it shocks me that we’re talking so much about crypto regulation and nothing about AI regulation. I mean, I think the government’s got it completely upside-down.”

This concern is birthed by the fact that Novogratz thinks that AI will most likely activate a profound false identity challenge. 

According to Novogratz, one of the major usefulness of the digital currency space around AI would be identity. This is so because in the nearest future, a false Mike Novogratz would be created and how then would the identity be verified in such a case? He questioned.

Regardless, he maintains the view that applications existing in the digital space will contribute significantly to getting rid of the challenges that may arise from the use of AI.