13/08/19 09:00 UTC-4

Bitfury launches artificial intelligence unit

Bitfury opens AI division
Bitfury opens AI division

The Bitfury Group, a blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details
company recently valued at more than $1 billion, has launched an artificial intelligence (AI) division to analyze data.


AI Division Launch

The new division of artificial intelligence will work together with the existing Bitfury services on the blockchain and will remain part of the company.

Bitfury's chief executive officer and co-founder, Valery Vavilov, said the need to analyze and extract value from the wealth of data available has led the company to engage in artificial intelligence, an informatics industry that focuses on the creation of intelligent machines.

"We collect large amounts of data, but only 2% of them were analyzed, 98% are idle and waiting in line," – said Valery Vavilov.

He believes that AI is the best and most effective way to analyze data.

"We must also trust this data, so it is in this case that the blockchain is needed" – Vavilov.

Bitfury Group is one of the few blockchain companies around the world with a value of at least $1 billion. This list also includes Coinbase and Bitmain.

Cryptocurrency news showed that technology developed in the public and private sectors has attracted worldwide attention due to its ability to constantly record and track assets and operations in all sectors.

Artificial intelligence is one of the most funded areas this year. According to the research company, in the second quarter of 2019, $ 7.4 billion was invested in AI startups, most of which are transport and healthcare companies.

The Bitfury Group blockchain company has announced the launch of an artificial intelligence unit for data analysis. Recall that in its report of August 9, the US Congressional Research Service reported that according to the results of the study, blockchain technology could make the country's energy sector more transparent and convenient for consumers.

Editor: Alyona Nabok

See also: "USA: energy sector can be improved with blockchain"

#Bitfury #ArtificialIntelligence #AI



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