Tether's CEO Paolo Ardoino recently unveiled the latest developments in Tether Data, highlighting three cutting-edge artificial intelligence (AI) applications currently in the works. As a leading force behind the USDT stablecoin, Tether is expanding its technological horizons with a strong emphasis on AI integration.
Amid a challenging phase in the AI crypto industry, Tether steps up with a game-changing move.
Tether Unveils Revolutionary AI Applications
In a recent announcement by Ardoino, a series of teasers showcased the upcoming AI applications: an AI-driven translator, an AI-enabled voice assistant, and an AI-powered Bitcoin wallet companion.
"Privacy and control are at the forefront of Tether Data's vision, with apps designed to operate locally on any device," stated the announcement.
The sneak peek videos provided a glance at the functionalities of each application. The AI translator boasts multilingual support, including languages like English (UK and US), Spanish, Portuguese, Italian, German, French, Swedish, Turkish, and Polish.
The AI voice assistant in action allows users to send voice messages, receiving prompt responses and solutions to queries.
Additionally, the AI payment agent integrated into the wallet streamlines digital asset management tasks, aiding users in actions such as checking their Bitcoin balance or executing transfers seamlessly.
Excitingly, Ardoino hinted at Tether's upcoming open-source AI SDK platform that is set to revolutionize the industry. The platform is planned to be powered by Bare, Holepunch's JavaScript runtime, accommodating a wide range of hardware devices from embedded systems to high-performance servers.
While Tether's USDT remains a strong revenue generator for the company, new AI ventures mark a significant expansion for the stalwart stablecoin issuer. Tether reported impressive net yearly profits of $13 billion in its latest Q4 report, backed by a substantial $113 billion in US treasury assets.
USDT continues to dominate the stablecoin realm and retains its position as the fourth-largest cryptocurrency globally, boasting a market cap of $140.5 billion.
Despite challenges in the broader AI crypto sector, Tether's pioneering leap into AI showcases a bold move in a market experiencing recent downturns. As per CoinGecko data, the AI crypto market cap saw a 9.1% decrease in the past 24 hours, settling at $29 billion.
Looking forward, Tether's foray into AI signifies a promising future, merging cutting-edge technology with innovative financial solutions.