Davos attendees shift toward AI; Ripple and Circle executives comment News โธ Switzerland โธ AI
Davos attendees shift toward AI; Ripple and Circle executives comment
Leaders from the crypto industry appeared to be unfazed by the trend.
2 min read
Updated: Jan. 16, 2024 at 11:03 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Tech companies attending Davos 2024 shifted toward artificial intelligence (AI) and away from cryptocurrency, according to various reports from CNBC on Jan. 16.
Dante Disparte, CSO of the stablecoin firm Circle, told CNBC:
“Today, there are very few crypto houses along the Promenade. Theyโre all AI houses, which is good … That suggests that [crypto] is becoming a background technology … I get to become a vintage player.”
Brad Garlinghouse, the CEO of Ripple, also commented on attendees’ shift toward AI in response to CNBC’s Arjun Kharpal. Garlinghouse said:
“I think every new technology goes through a hype cycle … I think AI is also a technology here to stay, transformational in a lot of ways … but also not exactly clear what the business models are [and] how it’s going to play out.”
Garlinghouse suggested that crypto is past AI’s current stage in the hype cycle and called this a “very positive thing for the crypto industry.” He added that he is a “voyeur, not a participant” in the AI sector.
An unrelated report from Bloomberg on Jan. 15 suggested that Coinbase also attended the event through its CSO, Alesia Haas. In another Bloomberg report, Haas acknowledged AI and its potential to improve customer service.
Davos’ attendees AI focus seen on promenade
CNBC’s Kharpal suggested that AI was largely seen on the Davos Promenade, where various companies occupied properties and posted slogans.
In a report co-authored with MacKenzie Sigalos, Kharpal noted that Intel placed AI slogans on its its temporary building. An image indicated that Intel used the slogans “Advancing the future of AI” and “AI everywhere” for that space.
Kharpal also noted that Tata Consultancy Services used a slogan reading “The future is AI” and added that the business software company Salesforce similarly used AI slogans on its property. Finally, he noted that Switzerland’s leading telecom company, Swisscom, branded its event space the “AI House.”
CNBC suggested elsewhere that Microsoft CEO Satya Nadella commented on global AI cooperation during Davos. Reuters, meanwhile, reported on OpenAI CEO Sam Altman’s Davos appearance and his suggestion that AI development needs innovations in power sources to meet energy demands.
Mentioned in this article
Author 
Mike Dalton
Before transitioning to crypto writing in 2018, Mike studied library and information sciences. Currently, he resides on Canada's West Coast.
Editor Editor 
News Desk
CryptoSlate is a comprehensive and contextualized source for crypto news, insights, and data. Focusing on Bitcoin, macro, DeFi and AI.
Latest Switzerland Stories
In this article
OpenAI
OpenAI is an AI research and deployment company committed to ensuring that general-purpose artificial intelligence helps all of humanity.
Circle
Circle Internet Financial Ltd is a global internet finance company, built on blockchain technology and powered by crypto assets.
Ripple
Ripple is a US-based technology company which develops the Ripple payment protocol and exchange network using XRP, the digital asset native to the XRP Ledger.
Brad Garlinghouse stands at the forefront of financial technology as the CEO of Ripple.
Sam Altman is the CEO of OpenAI, an AI research and deployment company since 2019.
