CEX.IO’s Q1 2024 Industry Report Examines AI’s Impacts on the Crypto Ecosystem and Beyond

Generative AI and Its Downstream Effects explores the unfolding ramifications of deploying AI solutions across a variety of vectors, through a human-first perspective.

CHICAGO, May 16, 2024 (GLOBE NEWSWIRE) — CEX.IO, a global ecosystem working to bridge the worlds of crypto and traditional finance, has published its latest market analysis report, COMPASS Q1 2024: Generative AI and Its Downstream Effects.

This latest edition continues lines of inquiry established in the previous installment, by digging deeper into the relative success and real-world outcomes of deploying AI solutions. The CEX.IO Market Research Team’s human-first approach uncovers how AI tools are impacting the crypto ecosystem, redefining labor in key industries, and challenging the validity of online information. In addition, the report assesses how increased demands for energy, water, and “high-quality” data could be complicating a variety of systems that are already experiencing heightened strain.

“The advent of crypto in the global transacting landscape opened the floodgates to new dimensions of innovation and advancement, but it hasn’t all been smooth sailing,” said Oleksandr Lutskevych, Founder and CEO of CEX.IO. “Rather, sober trial and error proved essential to identifying the right course of action. As with any new technology, it’s incumbent on all users to determine how AI’s success is defined, and which parties stand to gain, and lose, through its implementation.”

The report takes a bird’s eye view of the long-sought desire to mechanize efficiency, and applies that timeline to emerging AI solutions. From there, the analysis delves into AI’s overall efficiency and possible risks, before arriving at possible alternatives to becoming overly reliant on such nascent and resource-intensive systems. By drawing comparisons between proven results in the digital economy, alongside correlated and tangential markets, the report extrapolates on AI’s potential to subvert a range of existing norms. 

“It can be easy to lose sight of the present when we dream of a better future. However, arriving at the most prudent course often requires honesty and candor in equal measure. We hope this report strikes a balance between the two, for our communal edification on these emerging trends,” Lutskevych added.

To download COMPASS Q1 2024: Generative AI and Its Downstream Effects, click here.

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ABOUT CEX.IO

CEX.IO was founded in 2013 with a mission to support global financial inclusion through the adoption of cryptocurrency and blockchain technology. As one of the most tenured market participants, CEX.IO offers a comprehensive ecosystem of intuitive solutions built with safety and security at their core, enabling users to trade, store, transfer and earn digital assets. With over six million registered users globally, CEX.IO helps retail, enterprise, and institutional customers seize opportunities in decentralized finance every day. Learn more at CEX.IO or connect with us on LinkedIn.

© 2024 | CEX.IO Ltd All rights reserved. Not to be reproduced or retransmitted without permission.

CEX.IO is a trading name of, and [digital asset platform products and services] are offered by: in the U.S., CEX.IO Corp., registered with FinCEN in jurisdictions where it is licensed to operate as a Money Service Business (MSB Activities 409 499), registered office 900 E Diehl Rd STE 110, Naperville, IL 60563; In Europe, CEX.IO EU VASP, UAB is registered as the Virtual Asset Service Provider (VASP) and depository virtual currency wallets operator in the State Enterprise Centre of Registers of the Republic of Lithuania, registration number 306186479; CEX OVRS LLC, registered in St. Kitts & St. Nevis, No. L 22275, registered office Suite 1, A.L. Evelyn LTD Building, Charlestown, Nevis. CEX.IO Limited and CEX OVRS LLC are subsidiaries of CEX.IO Holding Ltd.

These materials are for informational purposes only, and are not intended to be used for trading or investment purposes or as an offer to sell or the solicitation of an offer to buy any security or financial product. These materials do not provide any form of advice (investment, tax or legal). CEX.IO is not a registered investment adviser and does not provide investment advice or recommendations to buy or sell securities, to hire any investment adviser or to pursue any investment or trading strategy.

The value of digital and virtual currencies is derived from supply and demand in the global marketplace which can rise or fall independently of any fiat or government currency.

Holding digital and virtual currencies carries exchange rate and other types of risk.

Transactions in virtual currency are irrevocable, and, accordingly, losses due to fraudulent or accidental transactions may result in the loss of your money with no recourse.

Any questions regarding this document or application of any law, rule or regulation can be referred to us via email at [compliance@cex.io].

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CONTACT: Becky Sarwate
CEX.IO
(773) 507-3554
R.Sarwate@CEX.IO

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