Artificial intelligence is all the rage right now, thanks to applications like ChatGPT and image generating programs. In that respect, it is no surprise that an altcoin that focuses on artificial intelligence is breaking through right now. It is about SingularityNET (AGIX) that exploded as a result of rumors surrounding Elon Musk.
Elon Musk and Artificial Intelligence
This weekend, Elon Musk told his followers that he sometimes worries about the rise of artificial intelligence. He focuses in particular on Artificial General Intelligence (AGI), which is a form of artificial intelligence that should be able to do everything. In fact, that would work like a human brain, but with infinitely more capacity.
But, all things considered with regard to AGI existential angst, I would prefer to be alive now to witness AGI than be alive in the past and not
— Elon Musk (@elonmusk) February 26, 2023
In theory, that can be very dangerous and Musk is therefore also concerned about that. Although he also indicates in the message that he would rather experience the discovery of this than have it happen after his time.
A day later, The Information reported that Musk is toying with the idea of developing a new version of ChatGPT. He is said to have already approached a group of researchers with that idea, to share it and to enthuse them about it. If the stories are correct, Musk is targeting Igor Babuschkin, who previously worked for DeepMind, an AI firm that was sold to Alphabet (Google).
You know how crypto works
We all know how the crypto world works by now. When rumors of a particular technology start circulating around the likes of Elon Musk, it doesn’t take long for the tokens to start flying. Basically, these rumors have nothing to do with SingularityNET at all, but the price is skyrocketing.
AGIX was originally built on Ethereum (ETH), before eventually making the switch to Cardano (ADA). The project is a blockchain technology-based marketplace for artificial intelligence services.
This includes individual AI algorithms or stand-alone AI applications. In less than two days, the AGIX token eventually shot from $0.38 to the current $0.533. This represents an increase of 38.03 percent in the past seven days.
