- Apple has announced it is integrating artificial intelligence into future iOS devices.
- The project, in collaboration with OpenAI, will bring ChatGPT and similar models to Siri.
- Despite the announcement being a positive for the industry, AI crypto tokens fell sharply.
- Worldcoin, Render and Fetch all lost more than 20% in the past week of trading as a market downturn took hold.
Artificial intelligence has been on the tip of everyone’s tongue throughout 2024, for good and bad. AI’s seemingly limitless power has captured society’s imagination, and the tech industry has long been associated with the blockchain. So when the biggest tech company in the world announces a partnership with OpenAI, the ears of crypto developers prick up.
Earlier this week Apple hosted its Worldwide Developers Conference (WWDC), where the team unveiled its newest flagship feature – Apple Intelligence.
Related: South Korea Experiences Surge of AI Token Trading, Covering Almost Fifth of Market
Apple Intelligence to Generate Images, Text and Summaries
Apple Intelligence is a collaborative project with OpenAI, allowing Siri to merge with ChatGPT to become a super AI. New Apple devices will be able to tap into OpenAI’s language-learning model (LLM) to assist with writing, summarising and even image creation.
There’s nothing particularly groundbreaking about the announcement, except that all the “best” elements of pre-existing AI are being merged into one package available for new iOS devices.
Although the news doesn’t directly impact the crypto sphere, growing interest and adoption of AI can have a flow-on effect to projects working within the same sub-sector.
In particular, Worldcoin’s price can be heavily impacted by any news regarding OpenAI, given they share the same CEO.
Several AI coins were in freefall around the time of Apple’s announcement – however, this may be part of the broader market downturn rather than a reaction to the WWDC event.
Worldcoin was a big loser, falling nearly 22% in the past week of trading. Other prominent AI tokens like Render (-22%) and Fetch (-28%) also struggled.
However, AI is clearly entrenching itself in society, and when market sentiment turns back around (whether that’s next week, next month, or next year), these are the types of coins that might benefit from integrations like Apple’s.
Even if Elon Musk doesn’t like it…
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