Brian Armstrong compared AI technology with the Internet and said that it should not be regulated because it will retard innovations.
Brian Armstrong is the CEO of Nasdaq-listed public crypto exchange Coinbase. Armstrong is popular in the crypto sector because of his success as a co-founder of Coinbase. In 2021, Coinbase went public. Coinbase exchange is known for its highly regulated crypto services but it is currently in a legal conflict with the United States Securities and Exchange Commission (SEC) since June of this year.
On 23 Sep 2023, Brian Armstrong took to X (formerly Twitter) to share his personal opinion on the Artificial intelligence (AI) tech sector.
Brian Armstrong said that the AI sector should not be regulated because high regulation will slow down the innovations in this sector.
Armstrong believes that the AI sector doesn’t need fast regulation, instead needs faster development efforts to fight against the national security challenges.
Furthermore, Armstrong compared AI with the Internet era and said that the AI sector should have full freedom just like the Internet sector, where freedom helped developers to develop different kinds of innovative software.
Count me as someone who believes AI should not be regulated
We need to make progress on it as fast as possible for many reasons (including national security). And the track record on regulation is that it has unintended consequences and kills competition/innovation, despite best…
— Brian Armstrong
(@brian_armstrong) September 22, 2023
(@brian_armstrong)
These words by the Coinbase CEO give a hint that he is crazy about AI technology and it is expected that he will jump or either already jumped on the AI bandwagon.
In recent months it has been found that people’s interest in AI-related searches has decreased rapidly but notably every tech company talked about AI and the majority of them Integrated their products & services with AI tools.
Recently Alphabet launched its AI chatbot Bard and integrated it with the Google search engine so that customers can get better search results.
Also just a day ago, Alphabet’s video-sharing platform YouTube launched its YouTube Create app for 8 countries and also promised the launch of AI insights for YouTube creators so that creators can make perfect decisions for their new video topics.
Read also: Degen Crypto Exchange to wind down global operations permanently
Coinbase CEO believes AI (Artificial intelligence) should not be regulated
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