Tether Announces New Hires to Boost the Development of its AI Division

Issuer of the top stablecoin, USDT, Tether has announced plans to recruit experts in artificial intelligence (AI) in order to boost the growth of its AI division.

The company announced Tuesday that it wishes to expand its AI capabilities through the new hires.

The goal is “to pioneer the development of open-source, multimodal AI models to set new industry standards, driving innovation and accessibility within AI technology,” the company said in its announcement on Tuesday.

Tether posted only two positions so far, for a head of AI research and development and the other for an AI engineer.

Tether’s AI Interest

Before now, the company has been interested in AI as demonstrated by its investments in German data center operator Northern Data in September 2023.

The Company later increased its investment in the company to $610 million, and wishes to take its AI capabilities to the next level with these new hires.

 Commenting on this, Tether CEO Paolo Ardoino said:

“Our investment in Northern Data Group, known for resilient and high-performance technologies, aligns perfectly with our vision,” Ardoino said in the statement. “Today’s announcement establishes a new division within Tether, redefining AI boundaries and democratizing privacy-preserving open AI technology while setting industry benchmarks for innovation, utility and transparency,” he added.

Tether has also expanded its business to include Bitcoin mining, establishing green mining farms in different countries. The most prominent is probably the mining farm, which was built in Kazakhstan, where there is plenty of green energy potential.

Tether has also stayed ahead in the stablecoin market, with USDT being the first and largest stablecoin. It currently holds the largest share of the stablecoin market, accounting for over 50% of the market. It also remains the most popular stablecoin among users to this day, with its user base still growing.

The Rise of AI in Crypto

AI is becoming increasingly popular in the crypto industry. This is as industry players started seeing the potential of the technology being used to develop the industry and increase efficiency.

Although AI finds application in different aspects of the crypto industry, one of the biggest areas of the technology’s application is automated trading.

 Through the application, automated AI trading bots like PROFIT REX have been created that can help users trade Bitcoin and other crypto assets on autopilot.

These bots make it possible and easy for anyone to trade crypto assets profitably with reduced risks as the bot makes decisions based on prevailing conditions of the market to maximize profits for the user.

Eventually, Tether may also venture into this aspect of the technology as it spreads its wings in the AI technology space.