This South Korean Tech Giant Could Dominate AI Crypto Trading

South Korean internet company Naver has breached the frontier of artificial intelligence (AI) robots that operate through a 5G cloud. The AI can do tasks that could soon see them replace crypto trading and other blockchain functions, as envisioned in a recent report by Nansen.

Naver’s robots do not have a “brain” reminiscent of their anthropomorphic cousins of yesteryear. Instead, they can move through security gates and lifts through a 5G connection to Naver’s cloud.

Naver Touts Commercial Potential of Bots

Naver operates a cloud service and runs an e-commerce business. Its robots draw on these and other business entities, like a search engine and social networking, to run smoothly. The technology uses a normal video camera instead of complex navigation tools to move around.

According to Naver Labs’ research and development department CEO, Seok Sang-ok, the technology is unparalleled.

“There are not many companies globally who can offer this high-quality robot service at this scale. This requires a lot of seamless cooperation with many of our affiliates.”

Naver’s robots benefit from the design of the building they occupy, as one critic points out. Par Sang-soo of the Korea Institute for Industrial Economics and Trade said the technology would only benefit countries able to cope with the technology’s infrastructure requirements.

However, the company is confident in the commercial viability of its robots. Naver Labs’ principal researcher, Albert Wang, said of the AI technology’s monetization potential,

“We have a full portfolio [of technologies] that can cover many new use cases. A lot of companies focus on single applications. We have multiple types of robot systems cooperating together.”

Read more: 13 Best AI Crypto Trading Bots To Maximize Your Profits

Nansen Predicts Boom for AI Crypto Trading

US Treasury Secretary Janet Yellen hinted that the inclusion of AI in financial markets is fraught with risk. Speaking in a report released by the Financial Stability Oversight Council in mid-December, Yellen said that AI was an “emerging threat” to financial stability.

The US Securities and Exchange Commission (SEC) chairman, Gary Gensler, called on regulators to lower the risks AI presents to financial markets in October.

It is possible that, in areas of the US, robots like Naver’s could play an outsized role in the near future. In a recent report, blockchain analytics firm Nansen predicted that AI agents will become primary blockchain participants in 2024.

AI agents can carry out transactions, hold assets, and help exchange value. Distinguishing between human and AI interactions can be achieved through cryptographic methods like Merkle Trees and zero-knowledge proofs.

Tokens could incentivize AI to act honestly, though the SEC may push back against AI performing functions like brokerage and trading services without a license.

Read more: Best Crypto Bots To Automate Trading