European Blockchain company, Bitfury presided by the Chief Executive Officer Valery Vavilov has launched their Artificial Intelligence unit. The AI division will work as part of the company and will be tightly associated with the operations and procedures of Blockchain services.
ury, which is estimated to be a one billion dollar company has many Blockchain companies across the globe in close association- Coinbase, a US based exchange and Bitman, the largest cryptocurrency mining corporation based in China to name a few.
Mr. Vavilov presumes the need for analyzing and extracting values and intelligent information hidden in the large chunks of data available and this necessity has paved the way for the invention of an AI division for making intelligent machines that can act just like humans.
Valery Vavilov added, “Data is becoming the next oil. We have collected so much data, but only2% of this data has been analyzed; 98% is sitting idle and waiting to be analyzed.”
This step taken by Bitfury is assumed to attract more Blockchain corporations around the world to step on to AI and dedicate their time and resources into Data Science and Data Min