Tether launches AI division, conducts hiring search

March 29, 2024

By Anjali Kochhar

The business that created the well-known stablecoin USDT, Tether, has announced a significant advancement with the creation of a specialised Artificial Intelligence (AI) section. The goal of this new division is to push AI technology forward by creating open-source AI models and encouraging partnerships to use these advancements in real-world applications.

According to a statement released by Tether on Tuesday, the primary goal of the AI division is to create open-source AI models and work with other companies to integrate these models into products that can tackle real-world challenges.

To kickstart this initiative, Tether is actively recruiting for key positions within the AI division. The company is seeking to hire an AI research and development head, as well as an AI engineer, as advertised on its official website.

Tether is well-known for creating the USDT stablecoin, which is pegged to the value of the US dollar and has a substantial market capitalisation of $105 billion.

Tether’s CEO, Paulo Ardoino, expressed excitement about the new AI division, stating, “This announcement redefines AI boundaries and democratises privacy-preserving open AI technology.”

This move into AI is part of a broader strategy that Tether embarked on last year with its investment in Northern Data. Northern Data, listed on the Frankfurt Stock Exchange, shifted its focus from cryptocurrency mining to providing computational resources specifically for AI-powered data analysis.

By venturing into AI, Tether aims to leverage cutting-edge technology to enhance its services and contribute to advancements in AI applications across various industries.

The launch of Tether’s AI division signals a significant expansion for the company, demonstrating its commitment to innovation and staying at the forefront of technological developments in the digital currency space.

As Tether grows and evolves, its push into AI is a strategic move that coincides with the company’s aim of using technology to build impactful future solutions.

About the author

Anjali Kochhar covers cryptocurrency stories in India as well as globally. Having been in the field of media and journalism for over three years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.