Renowned stablecoin issuer, Tether, has recently revealed its latest endeavor: creating a specialized AI division within the company. This strategic move aims to leverage the power of artificial intelligence in the company's operations. The newly established division, known as "Tether data," plans to hire top-tier talent, including an AI engineer and a head of AI research and development. The division's main goal is to lead the development of open AI models, promoting innovation in AI with a focus on accessibility, transparency, and privacy.

Tether's expansion into the realm of AI comes in the midst of a competitive market for AI talent, with tech giants like Meta also striving to seize opportunities in the AI landscape. Tether's diverse portfolio already includes divisions in energy and education, but its core business of stablecoin issuance remains its flagship venture, holding a dominant 70% market share of stablecoins.

The company's recent success in stablecoin issuance has resulted in a significant net profit, driven by interest earnings on reserves. CEO Paolo Ardoino highlighted Tether's strategic investment in Northern Data Group as a key element of its AI vision. Through debt financing, Tether injected 575 million euros (equivalent to roughly $623 million) into Northern Data Group in November.

Tether's AI unit aims to not only develop AI models but also collaborate with external partners to integrate AI solutions into market-driven products. The merging of AI and crypto has led to a wave of innovation, with startups emerging and attracting investor interest. Opportunities for synergy between AI and the crypto ecosystem are evident in areas such as content verification and enabling AI model inferences to interact with smart contracts. The future holds exciting developments as AI continues to shape the landscape of the crypto industry.