Coinbase, a cryptocurrency exchange, is actively integrating artificial intelligence into its development process, aiming to boost its use to 50% by October.
AI Usage at Coinbase
CEO Brian Armstrong indicated that AI currently helps write over 40% of the platform's code. In a post on X, he emphasized the importance of responsible use of AI. "Obviously, it needs to be reviewed and understood, and not all areas of the business can use AI-generated code. But we should be using it responsibly as much as we possibly can," he stated. He also shared a chart showing that AI-generated code at Coinbase has more than doubled since April.
Expert Opinions
Armstrong's comments have sparked mixed opinions among experts regarding the increasing use of AI in the workforce and the potential replacement of many jobs in the future. A tech expert from Oklahoma predicted that AI-related job losses could lead to a drastic drop in global population from 8 billion to 100 million by 2300. Meanwhile, David Sacks, White House AI and crypto advisor, argued that AI won’t take over jobs because it still needs human oversight. PwC researchers also found these fears of mass job losses to be exaggerated.
Trends in the Tech Industry
Coinbase's push to incorporate AI reflects a broader trend in the tech industry that seeks to balance innovation with workforce adaptation, considering the implications of automation. Leading companies like McKinsey & Company project that AI could contribute $4.4 trillion to the global economy by 2030.
Thus, Coinbase continues to integrate AI technologies into its platform, prompting diverse opinions on their impact on the job market and the future of employment in the industry.
