South Korea Tech Giant Naver AI Breakthrough

South Korean tech giant Naver has leapt into the realm of artificial intelligence (AI) with robots utilising a 5G cloud infrastructure.

These AI bots showcase capabilities that may revolutionise crypto trading and other blockchain operations, as highlighted in a recent report by Nansen.

Unlike their human-like predecessors, Naver's robots lack a conventional "brain."

Instead, they seamlessly navigate security gates and lifts via a 5G connection to Naver's cloud.

Drawing on Naver's diverse business entities, including cloud services, e-commerce, search engines, and social networking, these robots utilise a standard video camera for movement rather than intricate navigation tools.

Responses from the Industry

According to Seok Sang-ok, CEO of Naver Labs' research and development department, the technology stands unparalleled globally:

"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."

Park Sang-soo from the Korea Institute for Industrial Economics and Trade, argue that the technology's benefits depend on a country's ability to meet its infrastructure requirements.

Despite such concerns, Naver remains confident in the commercial potential of its robots.

Albert Wang, Naver Labs' principal researcher, emphasises their comprehensive portfolio, covering various use cases through multiple types of cooperating robot systems.

Meanwhile, predictions from blockchain analytics firm Nansen suggest a booming future for AI in crypto trading.

AI's Impact on Financial Markets

Janet Yellen, the US Treasury Secretary, acknowledges AI's emergence as a potential threat to financial stability.

Gary Gensler, Chairman of the US Securities and Exchange Commission (SEC), urges regulators to address the risks associated with AI in financial markets.

Nansen's report anticipates AI agents taking centre stage in blockchain transactions by 2024.

These AI agents can execute transactions, hold assets, and facilitate value exchanges.

To distinguish between human and AI interactions, cryptographic methods such as Merkle Trees and zero-knowledge proofs can be employed.

However, regulatory challenges may arise, with the SEC expressing concerns about AI performing brokerage and trading services without proper licensing.