According to CryptoPotato, the World Economic Forum (WEF) in Davos, Switzerland, began on January 15 with over 60 heads of state and government in attendance. In previous years, crypto companies dominated the advertising space in the main promenade, but in 2024, AI firms have taken over, reflecting the surge in interest and investment in artificial intelligence. Meanwhile, crypto has lost its prominence at Davos following a difficult 2022, a lackluster 2023, and fading ETF fever.
Dante Disparte, Chief Strategy Officer for Circle, told CNBC that this shift is not necessarily negative, as the crypto industry has had to explain the technology in recent years. He said that the rise of AI firms suggests that crypto is becoming a background technology, allowing him to become a 'vintage player' who no longer needs to explain the tech. Despite the AI dominance, some crypto firms and organizations, such as Circle, the Global Blockchain Business Council, and CasperLabs, still had a presence at Davos.
The World Economic Forum's Global Risks Report 2024 also highlighted artificial intelligence, with misinformation and disinformation listed as the top risks for the short-term two-year timeframe. AI is now being used to generate deepfake videos on a large scale, with scammers increasingly turning to generative AI. Recently, MicroStrategy executive chairman Michael Saylor and Solana co-founder Anatoly Yakovenko were featured in deepfake videos offering scammy Bitcoin giveaways.