As the world rapidly advances technologies such as Artificial Intelligence (AI) and blockchain, ethicists around the globe are asking questions about how these tools can be properly utilized in a way that benefits humanity as a whole. What is the responsibility of tech companies when AI is simulating human behavior? How do banks benefit from the new technology? Are there any regulations? These questions and more were discussed at Monaco’s Metaverse Entertainment Worlds (MEWS) conference.

In a illuminating talk, Dr. Stephen Castell, an expert witness in class action lawsuits in the United States and Ph.D. in mathematics dives into the topics of trust and ethics in the emerging tech space. He highlighted the “bad business model” of many banks currently in the United States and reasoned that it was forcing crypto visionaries to revolutionize the financial system.

Confronted with this, Castell predicts that banks will be at the frontline of AI adoption, as they are safety-conscious and interested in reducing the risk of bank runs. To this point, he also suggested that humans will need to be “socialized” with AI and other emerging technologies, a process called cyborgization.

In the United Kingdom, lawmakers are proposing the use of AI to spark economic growth via intelligent and responsible regulation. The crypto space too is feeling the effects of AI, with exchanges implementing AI-driven chatbots to help educate and bring users up to speed.

At the core of it all is the question of how to control the AIs and incentivize the humans with crypto. To answer this, the development of new ethics are needed to ensure a healthy relationship between humans, AI and other emerging technologies, taking us towards a more sophisticated and secure future.



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