'We have lost control': Crypto pioneer warns AI could trigger systemic banking and infrastructure shocks
Marc van der Chijs sold much of his bitcoin to invest in AI. Now, growing concerns about the technology accompany a move to put some profits back into crypto.
Marc van der Chijs, an entrepreneur who co-founded then bitcoin miner Hut 8 (HUT), has become increasingly concerned about the technology to which the company has pivoted: artificial intelligence.
The concern marks a shift for an investor who compares AI’s potential today with bitcoin when he entered the market in 2013. He still expects the technology to transform the economy, but increasingly questions whether humans can retain control over its development.
“We have lost control, actually,” he said. “And until we get the control back, I’m actually worried that we’re moving too fast.”
His concerns have not displaced an expansive view of AI’s economic potential. He predicts AI and robotics could eventually perform 90% to 95% of existing jobs, while driving sharp declines in the cost of goods and services.