The mischievous billionaire has been silent on cryptocurrencies for a while now, stating in his recent announcement that he will now focus on artificial intelligence. His departure from the crypto scene during the 2021 bull season is not good for the growth of FOMO waves. On the other hand, his absence from crypto in the long run could be advantageous for investors, as his speculative tweets sometimes have a negative impact on prices.
Grok Artificial Intelligence Bot
The artificial intelligence initiative Grok, launched by xAI, is currently only active for US citizens. Musk and xAI stated in their post dated November 5th that their motivation behind building Grok is to create advanced AI tools that will strengthen research and innovation and help humanity.
The advantage of the new AI chat bot is its real-time access to X platform’s data and real-world data. X has now become a significant data pool for news, events, prices, technical information, and more. Their recent post reads as follows;
“It will also answer exciting questions that most other AI systems refuse to answer. Grok was designed to answer questions in a slightly humorous way and has a rebellious streak, so if you hate humor, please do not use it!”
Comparative tests with ChatGPT-3.5 showed that Grok performs better. However, its performance against the latest version, GPT4, is still unknown.
“We believe that artificial intelligence has tremendous potential to add significant scientific and economic value to society, so we will work on developing reliable measures against destructive forms of malicious use.”
The Future of Artificial Intelligence Altcoins
Elon Musk, who founded the company in March, is now launching his own chat bot. After the launch of GPT last November, we saw massive rallies in artificial intelligence altcoins such as AGIX and FET Coin. If Elon Musk’s new product receives the expected attention, we may witness a similar period of excitement after the GPT launch. This would be supportive for AI-focused projects like AGIX and FET Coin.
Taking the example of FET Coin, it initiated a rapid upward trend in January. Now, it has formed a similar long green candle last week. If expectations are met, the target of $0.6 can be surpassed this time.
Other altcoins listed in this category include INJ, GRT, RNDR, ROSE, OCEAN.
