Technology firms are investing in AI as it continues to grow various sectors while enhancing productivity and decision-making.
AI start-up company Anthropic, whose recently released generative AI model Claude rivaling ChatGPT, has received a $300 million investment from Google. The deal involves Google acquiring an approximate 10% stake in the startup.
The announcement, which comes only a few weeks after Microsoft reportedly invested $10 billion in OpenAI, foreshadowing a fiercely competitive arms race in the field of generative AI.
About Anthropic
According to the official website, Anthropic is an artificial intelligence (AI) safety and research company that is working to develop AI systems that are reliable, interpretable, and steerable.
The goal of Anthropic is to advance the issues that arise from the fact that huge, general systems can be extremely beneficial, yet they can also be erratic, unreliable, and opaque. Currently, Anthropic’s primary focus is on research aimed at achieving these objectives.
Anthropic’s headquarters is in San Francisco and is the most recent AI firm to receive a sizable investment from a major tech corporation. The New York Times reports that Anthropic’s latest fundraising round from Google may increase the company’s overall valuation to $5 billion.
AI arms race with Microsoft
AI has the potential to revolutionize a wide range of industries, from healthcare and finance to transportation and manufacturing, and these large companies see significant potential for growth and impact in this field. Additionally, investments in AI can help these companies stay ahead of the competition by allowing them to develop and implement new, innovative technologies and products.
Last month, Microsoft invested $10 billion into ChatGPT to compete with Google’s search engine. Currently, Microsoft has already integrated AI into its business communication platform, Microsoft Teams, gaining AI-powered productivity with more intelligent, personalized, and protected meetings.
AI Cryptocurrencies surged after the announcement
AI-related cryptocurrency token prices have increased as the arms race in artificial intelligence intensifies. Companies’ announcements of the incorporation of AI may attract investors and increase demand.
The largest gainer of the day among the top 200 cryptocurrencies by market cap is SingularityNET (AGIX), which is up 29.47%. Fetch.ai (FET), which had gains of 28.43% over the previous day, came in second.
FET reached a new local high for 2023 of over 0.47. AGIX also achieved a new local high of 0.45 per coin.
Final thoughts
AI is likely to play an increasingly important role in our lives in the future, as the technology continues to advance and become more integrated into various industries and aspects of society. The integration of AI into our lives is likely to bring both benefits and challenges, including improved efficiency and decision-making, but also potential ethical and privacy concerns.
While it is difficult to predict exactly how AI integration will play a key role in the future, it is clear that the technology will play a significant role in shaping our world and the way we live and work. Businesses must continue to closely monitor and regulate the development and deployment of AI to ensure that it benefits society as a whole.
Rickie Sanchez is an article writer specializing in cryptocurrency news. Since late 2017, he has been actively investing in cryptocurrencies. He is enthusiastic about everything that has to do with crypto and he hopes that the readers of his articles in the years to come will gain a massive understanding of blockchain technology.
