CEX.IO’s Q1 2024 Industry Report Examines AI’s Impacts on the Crypto Ecosystem and Beyond
May 16 2024 - 8:00AM
CEX.IO, a global ecosystem working to bridge the worlds of crypto
and traditional finance, has published its latest market analysis
report, COMPASS Q1 2024: Generative AI and Its Downstream Effects.
This latest edition continues lines of inquiry established in
the previous installment, by digging deeper into the relative
success and real-world outcomes of deploying AI solutions. The
CEX.IO Market Research Team’s human-first approach uncovers how AI
tools are impacting the crypto ecosystem, redefining labor in key
industries, and challenging the validity of online information. In
addition, the report assesses how increased demands for energy,
water, and “high-quality” data could be complicating a variety of
systems that are already experiencing heightened strain.
“The advent of crypto in the global transacting landscape opened
the floodgates to new dimensions of innovation and advancement, but
it hasn’t all been smooth sailing,” said Oleksandr Lutskevych,
Founder and CEO of CEX.IO. “Rather, sober trial and error proved
essential to identifying the right course of action. As with any
new technology, it’s incumbent on all users to determine how AI’s
success is defined, and which parties stand to gain, and lose,
through its implementation.”
The report takes a bird’s eye view of the long-sought desire to
mechanize efficiency, and applies that timeline to emerging AI
solutions. From there, the analysis delves into AI’s overall
efficiency and possible risks, before arriving at possible
alternatives to becoming overly reliant on such nascent and
resource-intensive systems. By drawing comparisons between proven
results in the digital economy, alongside correlated and tangential
markets, the report extrapolates on AI’s potential to subvert a
range of existing norms.
“It can be easy to lose sight of the present when we dream of a
better future. However, arriving at the most prudent course often
requires honesty and candor in equal measure. We hope this report
strikes a balance between the two, for our communal edification on
these emerging trends,” Lutskevych added.
To download COMPASS Q1 2024: Generative AI and Its Downstream
Effects, click here.
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ABOUT CEX.IO
CEX.IO was founded in 2013 with a mission to support global
financial inclusion through the adoption of cryptocurrency and
blockchain technology. As one of the most tenured market
participants, CEX.IO offers a comprehensive ecosystem of intuitive
solutions built with safety and security at their core, enabling
users to trade, store, transfer and earn digital assets. With over
six million registered users globally, CEX.IO helps retail,
enterprise, and institutional customers seize opportunities in
decentralized finance every day. Learn more at CEX.IO or connect
with us on LinkedIn.
© 2024 | CEX.IO Ltd All rights reserved. Not to be reproduced or
retransmitted without permission.
CEX.IO is a trading name of, and [digital asset platform
products and services] are offered by: in the U.S., CEX.IO Corp.,
registered with FinCEN in jurisdictions where it is licensed to
operate as a Money Service Business (MSB Activities 409 499),
registered office 900 E Diehl Rd STE 110, Naperville, IL 60563; In
Europe, CEX.IO EU VASP, UAB is registered as the Virtual Asset
Service Provider (VASP) and depository virtual currency wallets
operator in the State Enterprise Centre of Registers of the
Republic of Lithuania, registration number 306186479; CEX OVRS LLC,
registered in St. Kitts & St. Nevis, No. L 22275, registered
office Suite 1, A.L. Evelyn LTD Building, Charlestown, Nevis.
CEX.IO Limited and CEX OVRS LLC are subsidiaries of CEX.IO Holding
Ltd.
These materials are for informational purposes only, and are not
intended to be used for trading or investment purposes or as an
offer to sell or the solicitation of an offer to buy any security
or financial product. These materials do not provide any form of
advice (investment, tax or legal). CEX.IO is not a registered
investment adviser and does not provide investment advice or
recommendations to buy or sell securities, to hire any investment
adviser or to pursue any investment or trading strategy.
The value of digital and virtual currencies is derived from
supply and demand in the global marketplace which can rise or fall
independently of any fiat or government currency.
Holding digital and virtual currencies carries exchange rate and
other types of risk.
Transactions in virtual currency are irrevocable, and,
accordingly, losses due to fraudulent or accidental transactions
may result in the loss of your money with no recourse.
Any questions regarding this document or application of any law,
rule or regulation can be referred to us via email at
[compliance@cex.io].
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Becky Sarwate
CEX.IO
(773) 507-3554
R.Sarwate@CEX.IO