The Explosive Growth of AI Versus the Encryption Industry: A Comparison

On April 18th, Evan Cheng, co-founder and CEO of Mysten Labs, stated that this shift is due to the ability of artificial intelligence products and applications to cater to a wider audience, while the encryption industry continues to focus on itself. Cheng said, “Driven by the proven value of AI technology to consumers, venture capitalists in multiple fields are increasingly turning their attention to AI investments.” He compared the explosive growth of AI to the explosive growth of cryptocurrencies since 2017: “ChatGPT has emerged, (developers) We are building products and applications for consumers and developers – a wide range of large-scale use cases are immediately possible, while in the field of encryption, the industry has been developing products for cryptographers （Decrypt）

MystenLabs co creation: Artificial intelligence products can cater to a wider audience, while the encryption industry always focuses on itself

Introduction

On April 18th, Evan Cheng, co-founder and CEO of Mysten Labs, stated that the explosive growth of artificial intelligence (AI) can be attributed to its ability to cater to a wider audience compared to the encryption industry. He explained that this has led venture capitalists in multiple fields to turn their attention to AI investments, as AI technology has demonstrated its value to consumers.

AI Technology Catering to a Wider Audience

The AI industry has seen explosive growth due to its ability to cater to a wider audience. AI products and applications have the potential to touch every industry – healthcare, retail, transportation, and many more. This has led to an increase in AI investments from venture capitalists across multiple fields, eager to capitalize on the impressive growth of the industry.

The Proven Value of AI Technology to Consumers

The proven value of AI technology to consumers has further fueled its explosive growth. AI technology has the ability to enhance user experiences, recommend products, and automate tasks – all of which are highly desirable to consumers. As a result, AI products and applications are being developed rapidly, with a wide range of large-scale use cases immediately possible.

Comparison to Cryptocurrencies Since 2017

Evan Cheng compared the explosive growth of AI to the explosive growth of cryptocurrencies since 2017. In the same way that cryptocurrencies saw rapid adoption, the AI industry too has seen astronomical growth. While cryptocurrencies catered to a niche audience, AI has a broad appeal and its use cases are not limited solely to experts.

Encryption Industry Focusing on Itself

In contrast to the explosive growth of AI, the encryption industry continues to focus on itself. The industry has been developing products primarily for cryptographers, who are a far more niche audience than the wider audience that AI products can cater to. This has led to a slower rate of adoption and a limited range of use cases.

Mysten Labs Creating AI Products and Applications for Consumers

Mysten Labs, founded by Evan Cheng, is working towards creating AI products and applications for both developers and consumers. Their goal is to tap into the broad appeal of AI technology and harness its potential to cater to a wider audience. Mysten Labs is confident that this will lead to significant growth in the AI industry in the coming years.

Conclusion

The explosive growth of AI is due to its broad appeal and its ability to cater to a wide audience. This has resulted in an increase in AI investments from venture capitalists across multiple industries. The encryption industry, on the other hand, continues to focus on itself and has a limited range of use cases. Mysten Labs is working towards creating AI products and applications for consumers, confident in the potential for significant growth in the AI industry.

FAQs

1. How has the AI industry demonstrated its value to consumers?
– AI technology has the ability to enhance user experiences, recommend products, and automate tasks – all of which are highly desirable to consumers.
2. How does the encryption industry differ from the AI industry?
– The encryption industry has a limited range of use cases, primarily catering to cryptographers, whereas the AI industry has a broad appeal and can be utilized in a wide range of industries.
3. What is the goal of Mysten Labs?
– Mysten Labs is working towards creating AI products and applications for both developers and consumers, tapping into the broad appeal of AI technology.