Mike Novogratz, the CEO of digital asset investment firm Galaxy Digital told investors he is shocked over the amount of regulatory attention for crypto rather than artificial intelligence (AI), a technology he believes will trigger a “deep fake” identity crisis.
The chief executive explained at the firm’s fourth-quarter conference call on March 28 that the U.S. government has it “completely upside-down” in choosing to focus so much on crypto regulation and yet turn a blind eye to AI:
“When I think about AI, it shocks me that we’re talking so much about crypto regulation and nothing about AI regulation. I mean, I think the government’s got it completely upside-down.”
This concern appeared to stem from Novogratz’s fear that AI will trigger a “deep fake” identity crisis.
“In lots of ways, one of the best use cases for crypto is going to be identity around AI, because pretty soon you’re going to get a fake Mike Novogratz, hopefully with hair […] how do you prove identity in a world like that?” he said.
However, he believes blockchain-based applications will play a “huge role” in combating some of the issues presented by AI:
“Crypto and blockchain is going to have a huge role in that. It is dumb to think that we should cache this industry because of Sam Bankman-Fried in his Bermuda shorts, period.”
That said, the U.S. Commodity Futures Trading Commission recently engaged in talks about AI and its impacts with the Technology Advisory committee last week.
