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Altcoin season approaching? Insights from experts amid Bitcoin’s halving aftermath – crypto.news

Can altcoins rebound? Analyzing expert predictions and key indicators following Bitcoins recent halving.

In the wake of Bitcoins (BTC) recent halving event, the crypto market has been anything but predictable.

While many anticipated a surge in Bitcoins value, the reality has been a bit more subdued. In fact, the market remains relatively flat, lingering below the record-breaking highs witnessed in March 2024. Throughout this period of anticipation and adjustment, altcoins have taken a hit.

Investors seemed to have favored Bitcoin over its alternatives, causing a noticeable bleed in the altcoin market. Since March, the combined market cap of altcoins has seen a sharp decline, plummeting from a peak of $1.27 trillion to a low of $908 billion by Apr. 13.

Although there has been a modest recovery since then, with the market cap climbing back to around $1.06 trillion as of Apr. 23, the road to stability remains uncertain.

The past month has been particularly challenging for many altcoins. Approximately 80% of the top 100 altcoins have witnessed declines ranging from 2% to as much as 50%.

Even Ethereum (ETH), the leading altcoin by market cap, has not been immune to this downturn. Despite reaching a high of $3,727 on Apr. 8, its value has steadily declined in the days that followed.

As of Apr. 23, Ethereum is trading at approximately $3,200, reflecting the downward trend in the altcoin market.

With Bitcoins dominance remaining strong, where could altcoins potentially find their footing in the market? Lets find out.

In bullish market cycles, Bitcoin typically leads the charge, attracting mainstream attention and investment.

Following Bitcoins surge, a phenomenon known as the altcoin season often occurs, where capital flows into altcoins. This pattern has been observed in previous bull markets, such as those in 2017-2018 and 2020-2021, where altcoins sometimes outperformed Bitcoin.

During an altcoin season, Bitcoins dominance in the market tends to decrease as altcoins collectively gain a larger share. However, the current market situation does not reflect this trend.

Analyzing data from past cycles, we find that altcoin seasons historically commence shortly after the Bitcoin halving event.

One crucial metric to monitor for signs of an impending altcoin rally is the Altcoin Season Index. This index provides insights into the relative strength of altcoins compared to Bitcoin.

While the recent Bitcoin halving event initially caused the index to dip, indicating a period of Bitcoin dominance, its essential to note that altcoins experienced a steeper decline in value during this time.

When the Altcoin Season Index surpasses a certain threshold, typically above 75, it suggests an increased probability of an altcoin rally.

As of the latest data, the Altcoin Season Index stands at 39, indicating that an altcoin season may still be some time away.

Fortunately, it isnt #altcoin season yet, so there is still plenty of time to prepare.

But you cannot wait for the #altcoin season to begin before you start positioning yourself. Its better to get in early than late! pic.twitter.com/MtGGgk1V3D

Another critical indicator is Tether (USDT) Dominance, which tracks the market share of the USDT stablecoin compared to other cryptocurrencies.

A downward trend in USDT dominance suggests that investors are increasingly willing to take on risk by exchanging stablecoins for crypto assets, potentially signaling the beginning of an altcoin season. The current analysis of the USDT dominance chart shows that making new lower lows correlates with the early signs of altcoin rallies.

Conversely, a change towards an upward trend in USDT dominance would indicate a preference for stablecoins over altcoins, potentially delaying the onset of an altcoin season.

Timing is also crucial to consider. While altcoin rallies can occur at any time, they often coincide with specific market conditions, such as several weeks or months after Bitcoins halving events.

This delay can be attributed to the time it takes for market participants to digest the implications of Bitcoins halving and reallocate their investments accordingly.

To gauge whether altcoins are picking up pace, you should pay close attention to an increase in trading volume accompanied by sustained price appreciation across multiple altcoins.

Emperor, a seasoned crypto analyst, observes that pre-halving Bitcoin dominance was on the rise, nearing its peak support level established after the post-halving dump in 2020.

As we approach May, Emperor anticipates a potential major rally in altcoins, especially if Bitcoin maintains stability.

Emperor suggests a speculative scenario where Bitcoin may recover to around $68,000 or even reach its all-time high, attracting top buyers looking to exit at profitable levels.

Meanwhile, altcoins, particularly those that have shown strength in recent months, may experience rallies.

Michal van de Poppe, another respected crypto analyst, echoes the sentiment that the post-halving market sentiments are shifting towards altcoins.

He notes that as Bitcoin dominance decreases, indicating a rotation in the market, the time for altcoins is on the horizon.

Michal also suggested the role of Ethereum (ETH), which is evolving into a stronger settlement layer within the crypto ecosystem that could impact altcoin performance in the coming months.

The time for #Altcoins is on the horizon.

It depends on Ethereum, which is currently becoming a stronger settlement layer.

The likelihood of an ETF is low, but the answer is coming in a month.

I'm positioning long on this.

Hence, you should closely monitor key indicators, such as Bitcoin dominance, and keep a check on altcoins to make informed decisions about your crypto portfolios. Always remember the golden rule of investing: never invest more than you can afford to lose.

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Analysts predict NEO, TON, and KANG to lead 2024’s altcoin season – crypto.news

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Neo (NEO) saw a major 44% jump within the span of a week and is now positioned towards reaching new heights.

Following this bullish momentum is the Toncoin (TON) crypto, which jumped 85% in the past month, showcasing major upward prowess and bullishness on the charts.

However, theyre not alone, as KangaMoon (KANG), an upcoming project in its presale stage, has surged 290%. We will review their on-chart performance individually to see why this is the case. By the end, we will see which crypto can see the most substantial growth and which is the best cryptocurrency to buy now.

Neo (NEO) has been in the green zone across all of its charts and is now positioned to reach even further gains. Specifically, within a week, the Neo crypto moved up 44%, and in the past year, its up 75%.

In the span of a month, the Neo price also spiked 40% and reached a peak at $23.57. As a result, $25 is the next major price barrier it needs to pass to reach new heights. The RSI and MACD data are bullish, and according to the Neo price prediction, it can end 2024 at $37.23.

Toncoin (TON) saw substantial gains as well. Not only did the crypto spike 85% in the past month, but it gained 28.4% in a single week as well. The year-to-date (YTD) climb for the Toncoin crypto was by 201.6%, and its recent peak was at $7.63. Now, the Toncoin price needs to break past the $8 price barrier to reach new heights. If it does so, according to the Toncoin price prediction, it can end 2024 at $10.45.

KangaMoon (KANG) is an upcoming Play-to-Earn (P2E) platform that features Social-Fi elements and a community-driven approach, through which anyone gets the opportunity to earn tokens and rewards by participating in various elements.

Specifically, each player takes control of their own KangaMoon character and, by doing so, can engage in battles, complete tournaments, or even other challenges.

There is a dedicated KangaMoon marketplace where anyone can buy, sell, or trade NFTs for additional capital gains. There are now over 20,000 registered users and 5,800 KANG token holders.

The presale has reached Stage 5, where KANG has raised $5 million and will break past the $5.5 million mark by the end of the week. Moreover, the crypto jumped from $0.005 to $0.0196, marking a substantial 290% jump in value.

Analysts say its future is bullish, as the crypto can climb 100x following its launch and major exchange listings.

Its clear that Neo and Toncoin experienced substantial price gains during the past trading sessions which has positioned them as some of the most bullish cryptocurrencies to jump into.

But despite their major success, most of the attention has gone towards the KangaMoon presale, as it has already provided massive ROI and can only move upwards in value from here, fueled by its massive ecosystem.

To learn more about this project, visit the KangaMoon presale website or join the community.

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

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Top Trending Altcoins To Buy In 2024: Which Altcoins Could Explode? ButtChain, Near Protocol, Sei, Stacks, Theta … – The Crypto Basic

As we navigate through the start of this new crypto bull run, the interest in trending altcoins has been noticeable. Altcoins, or alternative coins often present themselves as better substitutes or alternatives to the first digital currency.

Today, well look at some of the top trending altcoins, their various functionalities and features, and uncover why these hot cryptocurrencies are amongst the trending alternative crypto coins right now. This article is crafted based on thorough research, aiming to demystify the complex world of altcoins and spotlight some of the most promising ones for 2024 Near Protocol, Sei, Stacks, Theta Network, and the newcomer, ButtChain.

ButtChain (BUTT): Blending Humor and Liquidity

ButtChain is a new trending altcoin currently in its presale phase and which is making waves with its unique Proof of Butt mechanism. Designed to add a touch of humor to the blockchain, ButtChain also focuses on community engagement while bringing cutting edge liquidity tokenomics to the fore.

With features like Auto-Liquidity during presale and a Share and Earn program, ButtChain is a trending altcoin thats as fun as it is functional.

NEAR Protocol (NEAR): Decentralized Applications Powerhouse

NEAR Protocol is a decentralized application platform thats gaining traction for its scalability and user-friendly approach. Its a permissionless, secure network that provides a strong foundation for the future web, making it one of the most popular trending altcoins with a clear vision for supporting developers and fostering innovation.

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Sei (SEI): High-speed Trading and DeFi

Sei is a Layer-1 blockchain that specializes in high-frequency trading applications. It stands out for its rapid transaction capabilities, which surpass even those of established networks like Solana. With a focus on DeFi and order book development, Sei is a trending alt coin working to enhance user experiences in trading and gaming.

Stacks (STACKS): Unleashing BTC with Smart Contracts

Stacks is a layer-1 blockchain solution designed to bring smart contracts and decentralized applications (dApps) to a widely-used blockchain. It operates on a unique consensus mechanism called Proof of Transfer.

Theta Network: Pioneering Decentralized Video Streaming

Theta Network is revolutionizing the video streaming industry by decentralizing it. Users can share their bandwidth and computing resources to stream video content and earn rewards. Theta Network is a trending altcoin backed by significant institutional interest and advised by industry heavyweights.

Predicting which trending altcoin will explode is challenging, but enthusiasts can speculate surging frontrunners by analyzing market trends, technological advancements, and community support. Each altcoin mentioned showcases unique features wihin its respective niche, whether its ButtChains blend of humor and liquidity tokenomics or NEAR Protocol in dApp development.

Diversifying with trending altcoins can be a way to engage with the innovative technologies shaping the future of the internet and finance. These altcoins represent the cutting edge of blockchain technology, featuring new solutions to existing problems and creating entirely new digital ecosystems.

The name ButtChain may turn heads, but its the coins groundbreaking attributes that keep this coin on the headlines. Heres why Buttchain is growing in popularity:

Remember, selecting the right trending altcoin for you involves in-depth research. Buttchain presents an unique mix for those searching for a cryptocurrency that combines fun with innovation.

As we look towards 2024, the landscape of top trending altcoins is vibrant and full of innovations. From the playful ButtChain to the transformative Theta Network, each altcoin uniquely contributes to the blockchain space. As we explore this dynamic field, staying informed and open to new possibilities will be key to navigating the ever-evolving world of cryptocurrencies.

When considering any cryptocurrency, its crucial to exercise careful research and consideration. Meme coins, in particular, are known for their volatility and inherent risks. Its important to conduct comprehensive research before participating in any cryptocurrency ventures. This article should not be taken as financial advice.

For those considering acquiring ButtChain tokens, additional information about the presale and any applicable regional restrictions can be found on the official ButtChain website. Its worth noting that ButtChain is not accessible to individuals residing in certain regions and blocked countries.

Disclaimer: This Press release article is provided by the Client. The Client is solely responsible for this pages content, quality, accuracy, products, advertising, or other materials. Readers should conduct their own research before taking any actions related to the material available on this page. The Crypto Basic is not responsible for the accuracy of info and any damage or loss caused or alleged to be caused by the use of or reliance on any content, goods, or services mentioned in this press release article.

Please note that The Crypto Basic does not endorse or support any content or product on this page. We strongly advise readers to conduct their own research before acting on any information presented here and assume full responsibility for their decisions. This article should not be considered investment advice.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basics opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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As BTC faces hard times, Pepe and new AI altcoin eye growth – crypto.news

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

As Bitcoin continues to navigate challenges, PEPE and the newly introduced AI-driven altcoin Borroe Finance (ROE) are gaining traction, offering promising growth prospects in a fluctuating market.

In Q1, Bitcoin reached an all-time high of over $73,000. However, a few weeks after this record was set, the price of BTC began to decline again. Experts have said that the upcoming Bitcoin halving will positively impact the current situation, every enthusiast in the crypto space is eagerly waiting for the event.

In other news, while some altcoins are having their share of difficulty, others are showing impressive performances. Two of these top altcoins include PEPE and a new player to the scene, an AI altcoin, Borroe Finance (ROE). These coins have been seeing a bullish movement and have great prospects.

Borroe Finance is an AI-Funding marketplace to help web3 businesses raise capital and manage their cash flow operations daily. The platform allows them to mint and sell trending NFTs as future earnings, which provides them with instant cash to run their business. Borroe Finance has taken unique approaches such as token burn strategies, liquidity lock mechanisms, and more, which in turn help to boost the value of ROE.

Now, Borroe Finance is becoming one of the most promising crypto coins as it is already drawing the attention of investors. And one of its unique selling points is its impressive ROI. At the beginning of the presale, it was selling for $0.01. And now in the last stage, ROE is selling at $0.02, creating a 100% ROI already.

With this kind of performance, it is likely to become one of the leading ICOs in the industry.

Crypto investors are captivated by this huge RIO and are experiencing FOMO (fear of missing out). Borroe Finance appears to be a promising cryptocurrency to invest in before it increases explosively, as predicted by analysts. They have predicted that it will have 100X growth after its presale closes.

PEPE has been trending for some days even with the fall in the crypto market. PEPE went straight down into a support level during the step-down. Luckily, the coin found a base and almost right away made a comeback. Since PEPE is selling in the green, experts think its value will go up even more in the coming days. In particular, PEPE is expected to hit $0.0000080, showing a 5.2% increase in its price.

The crypto market has not been favorable to Bitcoin for some weeks now. Now, BTC grapples with volatility and losses.

The price has been so unstable that the swing is becoming the norm. Apart from the volatility, there is also regulatory concern, which further compounds the situation. There has also been scalability concern, which is one of the issues that the halving event is meant to take care of.

With the most recent halving occurring in May 2020, BTC has experienced an unprecedented run. That streak continues this year spurred by steps toward better trading accessibility and the upcoming halvingwhich is intended to reduce the number of Bitcoin created.

Bitcoin reached an all-time high of just over $73,797 in March. The record seems to offset the approaching payout shortfall for miners. However, diminishing returns may hinder miners from buying the latest and fastest computer hardware. They may even decide to suspend their work because expenses are higher than profits.

Although the market is not favorable for Bitcoin at the moment, analysts have said there is no cause for alarm as the crypto giant has seen worse. Amid all the instability that is going on in the crypto market, PEPE and Borroe Finance have been on a bullish trend, thereby attracting investors.

To learn more about Borroe Finance, visit the Borroe Finance Presale, join the Telegram Group, or follow Borroe Finance on Twitter.

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

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Ethereum (ETH) Investor Who Sold at $4,000 last Cycle Makes Huge Investment in Small-Cap Altcoin Priced Under $0.05 – Analytics Insight

Seasoned investors often have an eye for emerging opportunities in the ever-evolving landscape of cryptocurrency investment. Recently, a prominent Ethereum (ETH) investor, who famously sold during the previous cycles peak at $4,000, has shifted gears towards a new venture Hump Token (HUMP). This small-cap altcoin, priced well below $0.05, has caught the attention of the crypto community with its staggering growth and disruptive potential. This article delves into the journey of this investor and explores the allure of HUMP, the Solana meme coin sensation.

Hump Tokens entrance into the crypto market was nothing short of spectacular, characterised by a rapid surge in value and widespread acclaim. In a mere seven days following its launch, HUMP defied expectations by generating an astonishing 98x return for its initial investors. This remarkable feat, achieved despite its humble price of $0.01717, underscored the projects disruptive potential and captured the attention of the entire crypto community. As HUMP continues to gain momentum, its current market cap of $117.76M speaks volumes about its growing popularity and appeal. Fuelled by its revolutionary ethos and unwavering community backing, HUMP stands poised to reshape the landscape of meme coins and decentralized finance. This meteoric rise not only highlights the projects inherent strength but also underscores the power of innovation and collective enthusiasm within the crypto space.

For the seasoned Ethereum investor who adeptly seized the peak of ETHs previous cycle, the allure of HUMP Token emanates from its disruptive promise. Despite HUMPs current modest market cap, this investors substantial investment underscores a profound conviction in the coins transformative potential. By wagering on HUMPs trajectory to swiftly ascend to a billion-dollar market cap within a matter of weeks, this move represents more than mere speculationit embodies a calculated risk grounded in a steadfast belief in HUMPs capacity to revolutionise the meme coin landscape and establish a distinctive presence within decentralized finance. This bold leap underscores the investors astute foresight and strategic acumen, recognizing HUMP as a pioneering force poised to redefine the contours of the crypto market. As HUMP garners momentum and community support, this investment signals a strategic alignment with innovation and the relentless pursuit of opportunity in the ever-evolving crypto ecosystem.

While HUMP may bear the playful moniker of a meme coin, its significance transcends mere novelty. Inspired by the endearing image of a furry friend, HUMP represents a paradigm shift in decentralized finance. Beyond its cute facade lies a spirit of innovation and community empowerment. By embracing HUMP, investors are not just purchasing a digital asset; they are joining a movement dedicated to reshaping the future of finance. At the heart of HUMPs success lies its vibrant community of supporters and innovators. United by a common vision, these forward-thinkers are driving HUMPs evolution and propelling it to new heights. With listings on prominent platforms like CoinMarketCap and CoinGecko and forthcoming announcements of listings on centralized exchanges (CEX), HUMP is poised to expand its reach and solidify its position in the crypto galaxy.

With a total supply of 6,900,000,000 tokens, HUMP embodies a blend of scarcity and accessibility. Its modest price point and ample supply make it an attractive proposition for investors seeking exponential growth potential. As $HUMP gears up to revolutionise the Solana meme coin scene, its trajectory promises to elevate it to a whole new dimension of success.

In the dynamic world of cryptocurrency investment, seizing the right opportunity at the right moment can yield extraordinary returns. The Ethereum investors pivot towards HUMP Token exemplifies this ethos, as they embark on a journey to capitalise on the next small-cap altcoin sensation. With its disruptive potential, passionate community, and relentless innovation, HUMP is poised to leave an indelible mark on the crypto landscape, transcending the realm of meme coins to redefine the future of decentralized finance. As investors flock to join the HUMP movement, one thing is certain the journey has only just begun.

Click here to Buy Hump Token (HUMP):

Website: https://hump.io/

Twitter: https://x.com/Humptoken

Telegram: https://t.me/humptoken

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The U.S. Needs to ‘Get It Right’ on AI – TIME

Artificial intelligence has been a tricky subject in Washington.

Most lawmakers agree that it poses significant dangers if left unregulated, yet there remains a lack of consensus on how to tackle these concerns. But speaking at a TIME100 Talks conversation on Friday ahead of the White House Correspondents Dinner, a panel of experts with backgrounds in government, national security, and social justice expressed optimism that the U.S. government will finally get it right so that society can reap the benefits of AI while safeguarding against potential dangers.

We can't afford to get this wrongagain, Shalanda Young, the director of the Office of Management and Budget in the Biden Administration, told TIME Senior White House Correspondent Brian Bennett. The government was already behind the tech boom. Can you imagine if the government is a user of AI and we get that wrong?

Read More: A Call for Embracing AIBut With a Human Touch

The panelists agreed that government action is needed to ensure the U.S. remains at the forefront of safe AI innovation. But the rapidly evolving field has raised a number of concerns that cant be ignored, they noted, ranging from civil rights to national security. The code is starting to write the code and thats going to make people very uncomfortable, especially for vulnerable communities, says Van Jones, a CNN host and social entrepreneur who founded the Dream Machine, a non-profit that fights overcrowded prisons and poverty. If you have biased data going in, you're going to have biased decision-making by algorithms coming out. That's the big fear.

The U.S. government might not have the best track record of keeping up with emerging technologies, but as AI becomes increasingly ubiquitous, Young says theres a growing recognition among lawmakers of the need to prioritize understanding, regulation, and ethical governance of AI.

Michael Allen, managing director of Beacon Global Strategies and Former National Security Council director for President George W. Bush, suggested that in order to address a lack of confidence about the use of artificial intelligence, the government needs to ensure that humans are at the forefront of every decision-making process involving the technologyespecially when it comes to national security. Having a human in the loop is ultimately going to make the most sense, he says.

Asked how Republicans and Democrats in Washington can talk to each other about tackling the problems and opportunities that AI presents, Young says theres already been a bipartisan shift around science and technology policy in recent yearsfrom President Bidens signature CHIPS and Science Act to funding for the National Science Foundation. The common theme behind the resurgence in this bipartisan support, she says, is a strong anti-China movement in Congress.

There's a big China focus in the United States Congress, says Young. But you can't have a China focus and just talk about the military. You've got to talk about our economic and science competition aspects of that. Those things have created an environment that has given us a chance for bipartisanship.

Allen noted that in this age of geopolitical competition with China, the U.S. government needs to be at the forefront of artificial intelligence. He likened the current moment to the Nuclear Age, when the U.S. government funded atomic research. Here in this new atmosphere, it is the private sector that is the primary engine of all of the innovative technologies, Allen says. The conventional wisdom is that the U.S. is in the lead, were still ahead of China. But I think that's something as you begin to contemplate regulation, how can we make sure that the United States stays at the forefront of artificial intelligence because our adversaries are going to move way down the field on this.

Congress is yet to pass any major AI legislation, but that hasnt stopped the White House from taking action. President Joe Biden signed an executive order to set guidelines for tech companies that train and test AI models, and has also directed government agencies to vet future AI products for potential national security risks. Asked how quickly Americans can expect more guardrails on AI, Young noted that some in Congress are pushing to establish a new, independent federal agency that can help inform lawmakers about AI without a political lens, offering help on legislative solutions.

If we dont get this right, Young says, how can we keep trust in the government?

TIME100 Talks: Responsible A.I.: Shaping and Safeguarding the Future of Innovation was presented by Booking.com.

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Pope to take part in G7 summit in June to talk Artificial Intelligence – Crux Now

ROME Adding to what was already a busy papal schedule for 2024, the Vatican confirmed Friday that Pope Francis will participate, in person, in a G7 summit scheduled for the southern Italian region of Puglia June 13-15.

According to a statement from Italian Prime Minister Giorgia Meloni, the pope will take part in a session of the G7 summit dedicated to artificial intelligence, a subject of mounting concern to this papacy.

The popes participation will mark the first time a pontiff has taken part in a G7 summit, which has been meeting on a regular basis since 1975 and is considered the most important annual gathering of the leaders of the major Western powers.

The Pontifical Academy for Life organized a summit in 2020 along with major global technology firms such as Microsoft and IBM, which produced a document known as the Rome Call for AI Ethics. More recently, Francis devoted his messages both for the 2024 World Day of Peace and also the World Day of Social Communications to the theme of artificial intelligence.

We carried a movement forward from the base, now the pope at the G7 will speak to governments, said Italian Archbishop Vincenzo Paglia, head of the Pontifical Academy for Life.

The Rome Call is premised in part on what the document calls algorethics, meaning an ethical code for the digital age.

Signatories committed to request the development of an artificial intelligence that serves every person and humanity as a whole; that respects the dignity of the human person, so that every individual can benefit from the advances of technology; and that does not have as its sole goal greater profit or the gradual replacement of people in the workplace, the document says.

Italian Father Paolo Benanti, an advisor to both the Vatican and the Italian government on AI issues, said the Rome Call for AI ethics demonstrates the wisdom of religions on the subject, so that a future of peace and prosperity can be assured for humanity.

In this context, the participation of the pope at the G7 in Puglia is of great importance, Benanti said.

The G7 summit brings together the United States, the United Kingdom, France, Germany, Italy, Canada and Japan, as well as the European Union.

This year Italy holds the rotating presidency of the G7. It will mark the fifth time the summit has been held in Italy, with the most recent coming in Genoa in 2001, when the body was still known as the G8 with the participation of Russia.

Im convinced that the presence of His Holiness will give a decisive contribution to the definition of a regulatory, ethical and cultural framework for artificial intelligence, Meloni said in a video statement announcing the popes presence.

Last Wednesday, Pope Francis met the CEO of Cisco Systems, Chuck Robbins, who was in the Vatican to sign on to the 2020 Rome Call for AI Ethics.

Robbins said at the time that the Rome Call principles align with Ciscos core belief that technology must be built on a foundation of trust at the highest levels in order to power an inclusive future for all.

Recently, Paglia announced that a group of leaders of Asian religions will meet in Hiroshima, Japan, in July, in order to sign the Rome Call for AI Ethics. That summit follows a similar event in 2022 when Jewish and Muslim leaders signed on to the document.

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Pope Francis to attend G7 summit to speak on artificial intelligence – Catholic World Report

Vatican City, Apr 27, 2024 / 12:30 pm (CNA).

Pope Francis will attend the G7 summit in June to speak about the ethics of artificial intelligence, Italian Prime Minister Giorgia Meloni announced Friday.

The Group of Seven (G7) industrialized nations summit is being held in the southern Italian region of Puglia from June 1315 and will bring together leaders from Britain, Canada, France, Germany, Italy, Japan, and the United States.

Meloni, who will chair the summit, said in a video message on April 26 that Pope Francis had accepted her invitation to attend a session of the summit on the topic of artificial intelligence.

This is the first time in history that a pontiff will participate in the work of a G7, Meloni said.

I am convinced that the presence of His Holiness will make a decisive contribution to the definition of a regulatory, ethical,andcultural framework for artificial intelligence, she added.

The Vatican has been heavily involved in the conversation of artificial intelligence ethics, hosting high-level discussions with scientists and tech executives on the ethics of artificial intelligence in 2016 and 2020.

The pope has hosted Microsoft President Brad Smith, IBM Executive John Kelly III, and most recently, Chuck Robbins, the chief executive of Cisco Systems, in Rome each of whom has signed the Vaticans artificial intelligence ethics pledge, theRome Call for AI Ethics.

The Rome Call, a document by the Pontifical Academy for Life, underlines the need for the ethical use of AI according to the principles of transparency, inclusion, accountability, impartiality, reliability, security, and privacy.

Pope Francis chose artificial intelligence as the theme of his 2024 peace message, which recommended that global leaders adopt an international treaty to regulate the development and use of AI.

The pope established the RenAIssance Foundation in April 2021 as a Vatican nonprofit foundation to support anthropological and ethical reflection of new technologies on human life.

The Vatican has confirmed the popes participation in the G7 summit.

If you value the news and views Catholic World Report provides, please consider donating to support our efforts. Your contribution will help us continue to make CWR available to all readers worldwide for free, without a subscription. Thank you for your generosity!

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Pope Francis to participate in G7 session on AI – Vatican News – English

Pope Francis will take part in the upcoming G7 session on Artificial Intelligence under Italys presidency of the group.

By Vatican News

The Holy See Press Office on Friday confirmed that Pope Francis will intervene in the G7 Summit in Italys southern Puglia region in the session devoted to Artificial Intelligence (AI).

The confirmation of the Holy Fathers participation in the Summit, which will take place from June 13 to 15 at Borgo Egnazia in Puglia, follows the announcement made by Italian Prime Minister, Giorgia Meloni.

"This is the first time in history that a pontiff will participate in the work of a G7," she said, adding that the Pope would attend the "outreach session" for guest participants at the upcoming Group of Seven industrialised nations meeting.

The Summit foresees the participation of the United States, Canada, France, the United Kingdom, Germany, and Japan.

"I heartily thank the Holy Father for accepting Italy's invitation. His presence honours our nation and the entire G7," Meloni explained, emphasizing how the Italian government intends to enhance the contribution given by the Holy See on the issue of artificial intelligence, particularly with the "Rome Call for AI Ethics of 2020," promoted by the Pontifical Academy for Life, in a process "that leads to the concrete application of the concept of algorithmic ethics, namely giving ethics to algorithms."

"I am convinced," she added, "that the Pope's presence will provide a decisive contribution to defining a regulatory, ethical, and cultural framework for artificial intelligence, because on this ground, on the present and future of this technology, our capacity will once again be measured, the capacity of the international community to do what another Pope, Saint John Paul II, recalled on October 2, 1979, in his famous speech to the United Nations."

"Political activity, whether national or international, comes from man, is exercised by man, and is for man," Meloni quoted.

Pope Francis dedicated his Message for the 57th World Day of Peace on 1 January 2024 to Artificial Intelligence and Peace urging humanity to cultivate wisdom of the heart which, he says, can help us to put systems of artificial intelligence at the service of a fully human communication.

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In Race to Build A.I., Tech Plans a Big Plumbing Upgrade – The New York Times

If 2023 was the tech industrys year of the A.I. chatbot, 2024 is turning out to be the year of A.I. plumbing. It may not sound as exciting, but tens of billions of dollars are quickly being spent on behind-the-scenes technology for the industrys A.I. boom.

Companies from Amazon to Meta are revamping their data centers to support artificial intelligence. They are investing in huge new facilities, while even places like Saudi Arabia are racing to build supercomputers to handle A.I. Nearly everyone with a foot in tech or giant piles of money, it seems, is jumping into a spending frenzy that some believe could last for years.

Microsoft, Meta, and Googles parent company, Alphabet, disclosed this week that they had spent more than $32 billion combined on data centers and other capital expenses in just the first three months of the year. The companies all said in calls with investors that they had no plans to slow down their A.I. spending.

In the clearest sign of how A.I. has become a story about building a massive technology infrastructure, Meta said on Wednesday that it needed to spend billions more on the chips and data centers for A.I. than it had previously signaled.

I think it makes sense to go for it, and were going to, Mark Zuckerberg, Metas chief executive, said in a call with investors.

The eye-popping spending reflects an old parable in Silicon Valley: The people who made the biggest fortunes in Californias gold rush werent the miners they were the people selling the shovels. No doubt Nvidia, whose chip sales have more than tripled over the last year, is the most obvious A.I. winner.

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In Race to Build A.I., Tech Plans a Big Plumbing Upgrade - The New York Times

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