Microsoft co-founder Bill Gates rejected the open letter demanding a break from artificial intelligence research signed by Elon Musk and numerous tech experts. Biggest AI coins, AGIX, FET, RNDR skyrocket? Let’s answer…
Bill Gates rejects call to stop AI
The Artificial Intelligence rhetoric has faded over the past few weeks, with growing concerns about democracy and transparency. Bill Gates, the founder of Microsoft, recently rejected an open letter from Elon Musk and other tech experts demanding a break in artificial intelligence research.
Gates believes that interrupting AI research may not solve the problems associated with the development and use of this technology. We’ll see if prices for AGIX, FET and RNDR recover in response to recent developments in artificial intelligence and Gates’ comments.
Elon Musk and artificial intelligence experts demand a pause in AI research
Tesla’s billionaire CEO Elon Musk, together with a group of AI experts, has called for a six-month hiatus from the development of AI systems superior to OpenAI’s GPT-4. cryptocoin.com As we have mentioned, one of the names that supported this idea was Binance CEO CZ.
Experts noted in their letters that there is a risk to society and expressed their concerns about the rapid development of AI systems.
The letter, which collected 12,899 signatures by prominent names and phenomena, calls for a break in AI research. It also touches on key issues and potential negative impacts on civilization.
Bill Gates downplays Musk’s concerns, says ‘pause’ won’t fix problems
In a statement to Reuters, Bill Gates said that suspending research would not be enough to address concerns such as democracy and transparency stated in the open letter. According to Gates, the age of artificial intelligence has begun. Microsoft co-founder said:
I don’t think asking a particular group to pause will solve the difficulties. It’s clear that this kind of thing has tremendous benefits, what we need to do is identify the hard areas.
Gates’ statements reassure the community of artificial intelligence token holders that await further development in projects working in the artificial intelligence industry.
Fear of artificial intelligence looms in Germany, France and Sweden
Gates’ statements may not have relieved the concerns of regulators in European countries such as Germany, France and Sweden. Italy recently announced that it has completely banned the artificial intelligence chatbot ChatGPT, and concerns in other countries continue to rise.
Regulators in Germany, France, and Sweden have expressed concerns over democracy and transparency issues with AI. While regulators seek answers and solutions for responsible use of AI chatbots and technology, a direct ban may not be the right answer in the long run.
How are AI coins reacting to AGIX, FET and RNDR developments?
While the fate of future development and research in the field of AI remains uncertain, AI coin investors have witnessed a negative impact on coin prices. SingularityNET (AGIX), Render (RNDR), and Fetch.ai (FET) have wiped out their gains over the past week, putting their investors at risk.
SingularityNET (AGIX)
Crypto analyst ‘Rutradebtc’ on Twitter shared his bearish thesis regarding AGIX price. The AI token is down 32% from its peak of $0.58 in mid-March. The analyst states that SingularityNET’s token respects the bearish order flow on the four-hour time frame as seen in the chart.
The analyst is waiting for the next round of earnings on AGIX and states that the AI coin is currently facing rejection and is in a short-term downtrend.
Fetch.ai (FET)
FET started its downtrend in the first week of February 2023. The AI coin is currently sitting above the $0.35 support. Crypto analyst and trader Goomba believes there is a possibility of a rebound in FET with the target at $0.60.
According to the analyst, key targets on the upside are at $0.60, $0.87 and $1.1. Dropping support below $0.35 could invalidate the analyst’s bullish thesis for the AI coin.
Render (RNDR)
Technical analyst BigCryptoT argues that RNDR is currently undervalued. According to the analyst’s bearish thesis, RNDR can be expected to fall or bounce off the range balance and $1.3 is acting as support.
The RNDR is in an ascending parallel channel, so a break below the lower trendline supports the bearish thesis for the asset.
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