The AI-enabled enterprise won’t be built in a day. Take it from representatives at companies knee-deep in building…
AI hardware, software and services for their customers and clients, including IBM, Affectiva Inc. and Grant Thornton LLP.
At the recent AI and the Future of Work event hosted by MIT, these representatives provided advice on how CIOs can start to build the AI-enabled enterprise — as quickly as tomorrow morning. One of the first steps they suggested CIOs take? Get caught up on what the AI terrain looks like.
“The number one thing I would say is to invest the time to really understand what is happening in AI,” said Nichole Jordan, managing partner of markets, clients and industry at accounting and advisory firm Grant Thornton.
AI literacy is a must
Jordan pointed to AI Magazine and O’Reilly Media’s artificial intelligence newsletter as two “simple examples” of how CIOs can incorporate AI education into their daily routines and that of their teams. She described this as just “a sprinkling,” but said the reading material can encourage discussions about artificial intelligence and how its resurgence might affect the future of the company.
Reading up on AI could be worthwhile even for the smallest organizations, according to Jordan. “It no longer requires a multimillion-dollar budget to get AI started in your organization,” she said.
Take mergers and acquisitions, which require advisors to monitor and analyze disparate and often siloed data sources such as patent filings or regulatory findings. Today, AI is doing that kind of work and even collecting metrics on company culture, customer feedback and employee engagement that it scrapes from sites such as Glassdoor.
“Over time, the AI is able to develop and monitor trends, patterns, make recommendations to you for potentially other companies to put into your acquisitions portfolio,” Jordan said. “It is about speed and accuracy and being able to analyze a lot of data that we didn’t historically have the opportunity to bring together into one place.”
Affectiva’s Gabi Zijderveld echoed Jordan’s remarks, saying that education is a must.
“There’s so much hype and fluff around AI because every bit of technology today is [marketed as] AI,” said Zijderveld, chief marketing officer and head of product strategy at the emotion measurement company.
As CIOs familiarize themselves with what’s out there, they also need to get a grip on the appropriate opportunities AI can provide to their companies, according to Zijderveld. In Affectiva’s case, its first customers came from an obvious market segment.
Media and advertising companies began using the emotion AI technology, which can interpret facial expressions in real time, to test their content and assess audience response. These days, customers include educators who use the technology to help children with autism decode facial expressions, as well as medical care workers who can use it to detect Parkinson’s disease or as a benchmark for facial reconstruction surgery.
Zijderveld also suggested CIOs look at industry best practices, talk to their peers, find out what competitors are doing and uncover good examples of applied AI, taking note of their results and the products and technologies that drove those results.
And she provided a note of caution for CIOs: Don’t fall into the over-engineering trap. “If you have an old-fashioned ruler that does the job, maybe you don’t need AI there,” she said. “Use the damn ruler.”
Lifelong learning is key
For Sophie Vandebroek, vice president of emerging technology partnerships at IBM, building the AI-enabled enterprise means developing employee skills.
“At IBM, in fact, we are being measured to make sure we take 40 hours of education every year on these kinds of topics,” she said.
Not only is training important, but hiring and bringing in the right skills is also key, according to Vandebroek. For AI-enabled enterprises to succeed, employees who know how to use AI tools, especially as they become more accessible, easier to use and embedded into workflows, will be critical.
Vandebroek cited IBM’s Project Debater product as an example of how AI could change workflows. The AI system has been trained to take a topic, craft an argument and debate its merits — in minutes. Vandebroek believes a technology like this could help companies work through difficult decisions they need to make, such as with an acquisition.
As part of that education, companies — from the board of directors on down — need to recognize the importance of trust and transparency, according to Vandebroek. She stressed decisions be explainable and that data privacy be made a priority.
This expert offers a new reason why Bitcoin will reach $100,000 in 18 months
It’s not just a demand and supply narrative that will propel Bitcoin’s price to $100,000. In addition to this popular theory, William Quigley, who is the co-founder of Magnetic shared another reason why markets can expect a higher BTC price range.
In a recent interview with CNN Business, Quigley stated that markets are in a post-BTC halving bull run, which will be a primary reason why he thinks the asset could surge to over $100,000, by 2022.
What’s happened historically whenever that happens for between the next 12 and 18 months, Bitcoin can go up between 300% and 500%.
Going by Quigley’s expertise, the asset did surge in the previous halvings. At the time, Bitcoin was trading close to $660, and nearly 17 months later in December 2017, the price of Bitcoin rallied to an ATH of $20,000.
Given that the last BTC halving took place in May last year, a surge can be expected by 2022, provided Quigley’s theory holds true.
Interestingly, the $100,000 mark is what many Bitcoin bulls expect the asset to breach. As Quigley mentions in the interview, Bitcoin’s finite supply, coupled with growing institutional demand could support this predicted rally. The same belief is held by influencers like Morgan Creek Digital’s Anthony Pompliano, Former White House Director of Communications, Anthony Scaramucci, and Real Vision Group’s Raoul Pal, who all predict that Bitcoin will someday (and maybe soon) trade at $100,000 – due to its demand and limited supply.
Recently, Craig Wright’s sister, Lisa Edwards projected that Bitcoin could even reach $142,000 in a few years. A supposition that was similar to JPMorgan‘s estimations of BTC could be worth $146,000, in the long term. However, others in the sector think before the asset dramatically rises, it will face major corrections along the way.
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NFT boom triggers parabolic rallies in Chiliz (CHZ) and Flow
Strong hands view a correction in an uptrend as a buying opportunity and data from CryptoQuant shows that Bitcoin (BTC) whales have been buying near $48,000. This activity can be seen in the large Coinbase outflows, most of which went to custody wallets and this suggests that the institutional investors believe the Bitcoin rally has room to run.
Even Kraken CEO Jesse Powell is ultra bullish on Bitcoin. In a recent interview with Bloomberg TV, Powell said that Bitcoin could reach $1 million over the next ten years if the digital asset overtakes gold as a store of value.
While Bitcoin price bounces between the $47,000 to $51,000 range, non-fungible tokens (NFT) have been taking off and appear to be competing with the DeFi sector in terms of transaction volumes and token appreciation. NFTs from popular artists are being snatched up in minutes, which shows a strong appetite from the users. Along with the artwork, sports-oriented collectible NFTs are also quickly gaining in popularity.
Let’s analyze the fundamentals of a few NFT projects to determine whether the rally is on the verge of topping out or if there is room for further extension.
Blockchain sports venture Chiliz (CHZ) has years of experience in dealing with fan tokens of some of the most popular soccer clubs in Europe. In late 2020 the firm announced a partnership with Binance in and since then Chiliz has listed ACM Fan Token for popular soccer club AC Milan. The listing generated $6 million in revenue in a short time and Chiliz recently announced that it had partnered with 23 sporting and esports organizations to launch more Fan Tokens.
Chiliz has also announced plans to expand its operations in the United States. The firm’s CEO Alexandre Dreyfus told Cointelegraph that an office will be set up in New York and the company plans to work with local leagues and sports franchises.
If Chiliz can onboard some of the popular sports teams from the U.S., it could give a major boost to the company. Dreyfus said that the firm is aiming to double the $30 million it had shared with its partners last year.
If Chiliz’s discussions with Formula One and e-sports teams turn out to be favorable, it may further boost growth.
CHZ has skyrocketed from an intraday low at $0.032468 on Feb. 23 to an intraday high at $0.155004 today, a 377% increase in less than a week. This sharp up-move has pushed the relative strength index (RSI) above 89, indicating the rally is overbought in the short term. This could result in a correction or consolidation in the next few days.
The first support on the downside is the 38.2% Fibonacci retracement level at $0.108195. If the price rebounds off this support, it will suggest that bulls are buying the minor pullbacks and not waiting for a deeper correction to enter.
If the bulls can then push the price above $0.155004, the CHZ/USD pair could resume its uptrend and rally to $0.230731.
Conversely, if the bears sink the price below $0.108195, the pair could drop to the 50% retracement at $0.093736 and then to the 61.8% retracement at $0.079277. Such a deep fall will suggest that the momentum has weakened.
The pair could then remain range-bound for a few days before starting the next trending move.
Since the 1920s sports fans have traded the cards of their favorite players, and ultra-rare cards have a tendency to sell for astronomical amounts. However, in this digital age, physical cards may play second fiddle to sports NFTs. Take, for example, NBA Top Shot, a marketplace built on Dapper Labs’ Flow (FLOW) blockchain, that has registered over $230 million in sales in the last few months.
The NFT craze is showing no signs of slowing down and an NFT drop by veteran digital artist Ben Mauro on VIV3, the first global marketplace on Flow blockchain, generated $2 million as the art pieces sold out in just seven minutes.
Recently OpenSea, the largest marketplace for NFTS, announced that it will integrate Flow blockchain into its platform to create a massive open economy for digital collectibles.
Flow also hosts UFC and Dr. Seuss digital collectibles and the upcoming mainnet launch could attract more developers, artists and investors to the platform.
FLOW has been in a strong uptrend since end January. The token picked up momentum and surged from an intraday low at $18.379 on Feb. 26 to an intraday high at $41.275 today, a 124% rally in a week.
The sharp up-move of the past few days has pushed the RSI deep into overbought territory, which suggests the market may be overheating in the short term. The long wick on March 3 and today’s candlestick suggests traders are booking profits on rallies.
Any pullback from the current levels could find support near $30. If the price can rebound off this level, it will suggest strength. The FLOW/USD pair could then rally to the psychological resistance at $50.
This bullish view will invalidate if the price turns down and breaks below the 20-day EMA ($22.58). Such a move will suggest that the markets have rejected the latest leg of the rally.
One of the major drawbacks of using technology is that it robs users of their privacy. Almost every activity on the internet user is being tracked by technology companies that analyze users’ behavior and sell the data for a profit. However, with the rise of blockchain technology, users are becoming more in control of their privacy again and also having more choice over what personal details they want to share.
The Brave web browser has grown in popularity in 2020 as its daily active user base has risen from $3.8 million to 8.6 million last year. Along with this, the number of verified content creators who receive rewards in the form of Basic Attention Token (BAT) for their work has also surged over one million. As the user base increases, it provides more power to the community as advertisers can no longer ignore them.
The search engine is an important part of any web browser and Brave’s acquisition of Tailcat, an open-source search engine, will help the project reduce its reliance on the current search engines that primarily depend on the results from Big Tech companies. Brave CEO and co-founder Brendan Eich told Cointelegraph that the company is likely to launch Brave Search by summer 2021. If successful, the new search engine could open a plethora of opportunities for BAT.
In its “Roadmap 2.0” Brave outlined a plan to integrate a DEX aggregator and NFT support in its new Ethereum-native wallet. To tackle the high fees on the Ethereum network, Brave is exploring layer-one and layer-two scaling solutions. The recent steps taken by the company hugely increase the use case for BAT.
BAT picked up momentum in the past few days and rallied from an intraday low at $0.3945 on Feb. 23 to an intraday high at $0.8412 on March 3, a 113% rally within a short time. However, the token is currently facing profit-booking from traders.
The BAT/USD pair has strong support at the 38.2% Fibonacci retracement level ($0.6706) and below it at the 50% retracement level ($0.6179). If the pair rises from either support, it will suggest that traders continue to buy the dips. The upsloping moving averages and the RSI above 62 suggest th bulls have the upper hand.
Contrary to this assumption, if the bears sink the price below $0.6179, the pair could drop to the 20-day EMA ($0.56). A bounce off this support could keep the pair range-bound for a few days. If the 20-day EMA support cracks, then a possible fall to the 50-day SMA ($0.43) is on the cards.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.
Bloomberg Chief Analyst Says Bitcoin Could “March To $100,000” From Here
Bitcoin is currently struggling to reclaim $50,000, but one chief Bloomberg analyst says that the cryptocurrency could be ready to “march” toward $100,000 per » Read more
” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin in the near term.
Here’s the data the senior commodity strategist says backs up the theory for the “nascent” cryptocurrency’s price doubling in short order.
Bitcoin Building Foundation At $50,000, According To Bloomberg Analyst
Bitcoin has only in the last several months become adopted by institutions as a financial asset of interest, despite the cryptocurrency’s incredible historical ROI.
During those months, however, the price per » Read more
” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin has increased by more than two times over compared the the asset’s entire lifetime before then. In a year’s time alone, Bitcoin has risen from $4,000 per » Read more
” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin to more than $50,000 from the technology’s potential suddenly coming into light.
Related Reading | Coinbase Bitcoin Outflows Are The Strongest Bullish Signal “Ever”
Using “history as a guide” Senior Commodity Strategist for Bloomberg Intelligence Mike McGlone says that the “nascent” technology is on track to begin its march toward a price of $100,000 per BTC – or more than double from the market price trading currently.
Grayscale #Bitcoin Trust Discount May Signal March to $100,000 – Bitcoin’s end of February price disparities on U.S. regulated exchanges portend a firming price foundation, if history is a guide, and are evidence of just how nascent the crypto is. pic.twitter.com/qj6hfTvH8K
— Mike McGlone (@mikemcglone11) March 4, 2021
McGlone looks to a growing discount in the Grayscale Bitcoin Trust premium, which hasn’t been this low since a year ago around the Black Thursday collapse. In days, Bitcoin lost as much as 70% of its value as the stock market tanked and the world learned of the pandemic.
That event was the catalyst that launched Bitcoin into the finance industry spotlight. Data provided by the analyst backs up the claim, however, the cryptocurrency community is quick to point out that the discount in the GBTC premium could be due to greater competition in the market from ETFs, and other crypto funds.
Look how far the "nascent" cryptocurrency has grown in a year | Source: BTCUSD on TradingView.com
March Toward $100,000? Or Will A Bloody March Get In The Way?
Granted a lot has changed in a year. Specifically, Bitcoin is now in an uptrend versus the sideways action from 2019 and early 2020, and each correction has built a base from which the next leg up took place from.
According to the data and McGlone’s take on the discounted premium, another foundation is being laid for Bitcoin to rocket from. Where the “nascent” cryptocurrency goes next, is a march toward $100,000 per BTC.
Related Reading | Why March Is The Bloodiest Month In BTC History
The only thing that could trip up the trending cryptocurrency is if – as McGlone says – we use history as a guide, which suggests that the March monthly candle is more than likely to close red.
Throughout the history of Bitcoin, March is the bloodiest month on record. If the historic trend breaks, the cryptocurrency could instead march along toward $100,000 as McGlone speculates.
Featured image from Deposit Photos, Charts from TradingView.com