The Machine Economy: AI, Blockchain and Digital Assets | Will Nutting

So what are the main risks then to this whole convergence thesis? Because you alluded to the fact that people don't like having a data center in the back garden.

So is it the threat of maybe regulation coming in and slowing the whole thing down? Or what is it that worries you about the whole thesis?

I mean, regulation, of course, worries you, just like it does with the world of digital assets, right? But I was writing an article, actually, for a newspaper, and somebody said to me, well, I was listening to this expert the other day, right? And so it allowed me a little diversion.

So I said, well, OK, so find me an AI expert, OK? And then you have to ask the AI expert two questions, right? The first one is, tell me what everyone currently knows about AI that you think is complete bollocks.

That's the first question to ask them.

The second question is a really good one, which is, explain, without using the word scale or emergence, why a transformer actually needs an attention mechanism.

Now, if they can't answer those questions, they know jack shit about AI.

So anyone who wants the answer to that question, I have got it.

I'm not telling you what it is here.

But the point about it is that I think we've just got a lot of people, to your original question, they fear AI, they fear digital assets because they don't actually understand it.

And my argument is that when AI and digital assets are connecting, They will ultimately sit in the background and we will find ourselves like we were in Iron Man with what was his computer called that he talked to in Iron

Man? Jarvis.

We'll ultimately end up in a Jarvis world where you'll walk through your front door having access with your hand or your eye.

And as you walk in, you won't have a device in your hands.

You'll just talk.

And you'll do the natural interface of talking to Jarvis.

And as you walk in, Jarvis will talk to you and tell you what you need to know.

Have you thought about watching this on television? What do you want for dinner tonight? Blah, blah, blah, blah, blah.

And so I think we've just got to get to that stage whereby this technology becomes as ubiquitous as that.

Now, of course, there's the whole trust element to it.

There's always going to be people who don't want to adopt it.

But again, it's a global arms race.

And so if you're going to try and if you've got a bunch of kind of grumpy former Newcastle University kind of school teachers, ultimately sitting inside government talking crap about policing AI when they don't really even understand what it is or how it works.

Yeah.

it will just fail dismally, you know? So I, I, I ultimately think that the market will, the market will prevail.