Learning from Crypto: How AI Can Navigate the Ethics Minefield

By Juan Fajardo Juan Fajardo has been verified by Muck Rack's editorial team
Published on May 3, 2023

Saying that this hasn’t been a good week for Artificial Intelligence (AI) would be an understatement. It all began with the news that Dr. Geoffrey Hinton, known as “the godfather of AI”, was leaving Google while warning about the danger the technology represents. Often centered around its potential to change the world, the existential threat it represents, and the ethical concerns it raises, AI has dominated the news for almost a year. Now, actions seem to be the way the conversation will continue to move forward.

The mediatic bomb that was Dr. Hinton’s departure from Google was followed by the news of Samsung banning employees from using ChatGPT, just like Morgan, Bank of America, and Citigroup had done before. Other AI-related headlines this week include Meta’s report on the use of over 1,000 ChatGPT-themed domains to spread malware, the Writer Guild of America’s demand for limits on AI tools in the industry, and the creation of the African Content Moderators Union.

While this is not the first time that actions have been taken in an attempt to mitigate the risks associated with generative AI, they represent an inflection point at a time when past actions are now starting to bear fruit. Back in late March, an Italian regulator announced a temporary ban on ChatGPT due to data collection concerns. The move, which was one of the earliest attempts to regulate AI, resulted in OpenAi making changes to meet the regulator’s demands, leading to the model being unbanned in late April.

With the concerns around generative AI now prompting organizations to action and Italy’s ban proving that regulation is possible, AI has found itself in a position that many other technologies know very well. Of these, cryptocurrency is probably the most familiar with the crossroads that AI is currently facing: balancing innovation with the risk of regulatory action.

Having gone through several hype cycles already, crypto has been under scrutiny by regulators for over a decade. Not only have they struggled to create a framework for the industry but the technology has also found itself being misused by bad actors. From being used to power the biggest drug black market to its use to scam everyday people, crypto’s journey to mass adoption can be used as a predictor of what is yet to come for AI.

AI and crypto are not inherently “bad” but it is human use which decides what their effect on society will look like. This was one of the main topics of the “Blockchain’s CeFi Experiment Broke, but Are DeFi and “More Tech” the Cure?” panel, which took place during this year’s edition of Grit Daily House at Consensus

Moderated by Thomson Reuter’s Technologist & Futurist Joseph Raczynski, the panel also touched on topics ranging from the role regulators need to play to how technologies like web3 can benefit from AI; as well as what the AI, DeFI, and CeFi industries can learn from each other. XRP Cafe’s CEO & Co-Founder Adam Kagy, Yobi’s CEO & Founder Ahmed Reza, and USPC’s CEO & Founder Johnney Zhang joined Rozinski on the stage to share their experience and insights.

To learn more about what these entrepreneurs and experts have to say about the future of these industries, make sure to watch the panel’s recording on Grit Daily’s official YouTube Channel or the video below.


By Juan Fajardo Juan Fajardo has been verified by Muck Rack's editorial team

Juan Fajardo is a News Desk Editor at Grit Daily. He is a software developer, tech and blockchain enthusiast, and writer, areas in which he has contributed to several projects. A jack of all trades, he was born in Bogota, Colombia but currently lives in Argentina after having traveled extensively. Always with a new interest in mind and a passion for entrepreneurship, Juan is a news desk editor at Grit Daily where it covers everything related to the startup world.

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