By George Ward
The evolution of AI has quickly become a prominent topic in the tech sector in the last few months. As businesses worldwide compete to develop the most cutting-edge AI systems, the importance of having access to powerful and efficient computer chips has grown.
Accordingly, OpenAI’s chief executive officer, Sam Altman, has recently been promoting the South Korean semiconductors industry as a place for AI-related investment and development.
OpenAI CEO Reveals Investment Opportunity In Korean Chips
During a recent private discussion with the South Korean President, OpenAI chief executive Sam Altman stated that the nation should commit itself to manufacturing AI-oriented chips. Moreover, he expressed an interest in collaborating with prominent chipmakers such as Samsung.
The CEO proposed that South Korea focus on chip development, particularly system semiconductors and memory processors since these are essential components for artificial intelligence (AI). In addition, he suggested that the government relax corporate regulations to foster the development of AI initiatives.
Altman, who has been traveling throughout Europe to discuss the opportunities and challenges of AI with policymakers, extended his voyage to include Jordan, Israel, Qatar, UAE, South Korea, and India. During a conference in Seoul, Altman expressed his desire to increase his investment in Korean startups.
He stated that his team is actively seeking suitable startups with whom they can partner. Altman also acknowledged engaging in ongoing negotiations with Korean chipmakers, including Samsung Electronics and SK Hynix.
According to a report by the top Asian media outlet, Nikkei Asia, Samsung Electronics is a significant player in the dynamic random access memory chip market, accounting for more than forty percent of the market. Meanwhile, Altman indicated his willingness to continue discussing possible collaborations with these chip makers and other relevant players in the AI sector.
He further said, “The use of AI necessitates the transfer of enormous amounts of data, increasing the demand for memory chips.” He added that OpenAI is currently utilizing Taiwanese chips, but a constant supply of Korean chips will be required in the future.
The development and widespread adoption of generative AI technology are forcing decision-makers worldwide to establish regulations that address the safety concerns associated with this technology. Many authorities are hastening their decisions following the considerable success that accompanied the release of OpenAI’s ChatGPT.
Global Regulations For AI
The European Union recently announced that it would pass its Artificial Intelligence Act this year. In the meantime, lawmakers in the United States have introduced two new bipartisan legislation to address AI-related issues of transparency and innovation.
Altman admired how Koreans embraced and innovated with ChatGPT when it was first introduced. He also noted that Korea was among the first nations to adopt the service and demonstrate remarkable creativity in its application.
OpenAI’s leader disclosed that the organization is close to establishing a branch in Japan. In addition, he mentioned that as part of their future objectives, they might investigate the possibility of launching additional offices around the globe.
Regulatory Turmoil Triggers Decline In Value Of AI-Based Cryptocurrencies
Following the recent SEC action on popular Crypto exchanges, the values of top artificial intelligence-based coins are on a downtrend. After NVIDIA’s impressive rally, the adoption of AI-related cryptocurrencies skyrocketed, and the AI chip manufacturer became a trillion-dollar enterprise.
However, the recent SEC crackdown has diminished the obsession. For instance, The Graph (GRT), the leading AI token with a market capitalization of over $834 million, has declined by 10% over the past 24 hours and about 22.5% over the past seven days.
Another AI token, Render, trading at $1.9 at the time of writing, has dropped 7% of its value in the past 24 hours and nearly 22% in the past seven days. It is worth mentioning that the regulatory scrutiny on the crypto market is also affecting other crypto tokens.