AVAX CEO Emin Gün Sirer Talks About Artificial Intelligence: ‘It’s Promising But…’

Emin Gün Sirer, CEO of Ava Labs, says smart trading bots show promise, but more crypto cycle training data is needed.

Emin Gün Sirer: ‘Artificial Intelligence Still Has A Lot To Learn And Unlearn’

Despite all the excitement artificial intelligence has brought in the crypto industry, Ava Labs CEO Emin Gün Sirer is not impressed yet.

Despite his skepticism, Sirer is not trying to instill FUD (fear, uncertainty, and doubt) around the wave of AI-driven projects that are beginning to flourish in the blockchain industry.

According to CoinMarketCap, the category, which includes artificial intelligence tokens such as Fetch and Singularity, accounts for $5 billion in the $1 trillion crypto market.

That figure has nearly doubled since the end of January, when the category generated $2.7 billion.

“Imagine what you could do with a smart bot that can digitize, send, buy, trade assets using a uniform interface,” Sirer said.

“This is going to be an incredible new thing, I think asset pricing will no longer be determined by humans, but by bots, algorithms.”

But first the technology has to overcome two major hurdles. Sirer says computer scientists need to find a way to stop AI from replicating gender or racial prejudices.

Also, Sirer would like to see bots, especially those who trade with AVAX, learn to recognize black swan events.

Sirer recalled that AVAX, the native token of the Avalanche network, suffered some damage from the news that crypto exchange FTX filed for bankruptcy in November.

This happened despite the Avalanche being pretty well insulated from direct exposure to Sam Bankman-Fried’s collapsed empire.

*Not investment advice.