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Last Time This Bitcoin Statistic Hit A New High, BTC Surged 3.5xAnd Its Back – Forbes

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A key Bitcoin statistic has hit an all-time high, suggesting the start of an accumulation phase.

The so-called HODLwave of Bitcoin has hit a new all-time high. The metric indicates the amount of unmoved BTC on the blockchain in the past 12 months. It typically suggests that investors are increasingly accumulating the dominant cryptocurrency.

Researchers at Cryptowatch, a crypto market data company owned by U.S. exchange Kraken, wrote:

Bitcoin's 1-year HODL waveBTC unmoved on the blockchain over the last 365 dayshas hit a new all-time high of 63%. Bitcoin's HODL wave is up 1% since the start of July.

HODLwave of Bitcoin shows how addresses with BTC unmoved for a year.

The last time this many users held onto Bitcoin without transferring it to other addresses was in early-2019. At the time, BTC rallied from around $4,000 to $14,000, recording a 250% uptrend.

Various On-Chain Metrics Hint At Improving Bitcoin Market Sentiment

The HODLing activity of Bitcoin has continuously hit new highs since late last month.

On June 30, Altana Digital Currency Funds chief investment officer Alistair Milne said the metric hit 62%. He predicted that it could hit 70% at its peak during the ongoing cycle.

Milne said:

HODL'ing for a year or more just made a new ATH of 62%. Similar levels of HODL last seen during a 3-month consolidation at around $400 before starting a two-year bull run. Guesstimate that this cycle will peak around 70%?

Since then, within a month, the price of Bitcoin rallied from $9,187 to over $11,000. On July 27s peak, BTC rose to as high as $11,417 on spot exchanges, such as Bitstamp.

The performance of Bitcoin against the U.S. dollar since HODLwave hit 63%.

Apart from the HODLwave, other on-chain metrics and statistics suggest that the market sentiment around Bitcoin remains positive.

Most recently, market data firm Glassnode said the number of Bitcoin addresses holding at least $1 million surged to 18,000.

The statistic shows that new whalesinvestors holding a significant amount of Bitcoinhave increased in prominence over recent months.

Historically, when new whales bought Bitcoin, it led to strong rallies.

For instance, data from Glassnode shows the number of new whales increased in December 2017 and July 2019. In those two months, Bitcoin surpassed $20,000 and $14,000, respectively.

The number of addresses with a Bitcoin balance of over $1 million.

Other Data That Suggest More Volatility Is Likely Incoming

On July 29, Grayscale said that the assets under management (AUM) of the company reached $5.1 billion.

Accredited and institutional investors in the U.S. usually gain exposure to BTC through the Grayscale Bitcoin Trust.

Grayscales record-high holdings indicate that the involvement of institutions in the cryptocurrency market is still high.

The daily trading volumes of the spot, options, and futures markets are continuing to increase, showing heightened demand for crypto.

Atop the exchange data, Ki Young-ju, the CEO of on-chain analysis firm CryptoQuant, said whales have begun sending Bitcoin and stablecoins to exchanges.

He said:

BTC whales are sending Bitcoins to exchanges. #Stablecoin whales are sending stablecoins to exchanges as well. This week will be a battle between Stablecoin and Bitcoin exchange inflows. These inflows indicate potential buy/sell pressures.

A confluence of optimistic on-chain statistics, an overall increase in trading activity, and the rising involvement of whales could further improve the sentiment around Bitcoin.

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Last Time This Bitcoin Statistic Hit A New High, BTC Surged 3.5xAnd Its Back - Forbes

Bitcoin Cash Games Launches $3K Leaderboard Tournament to Celebrate the 3rd BCH Anniversary | Promoted – Bitcoin News

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To celebrate the third anniversary of Bitcoin Cash, the world-class gaming platform Bitcoin Cash Games is launching a leaderboard tournament worth $3k.

On August 1, the Bitcoin Cash community will be celebrating the networks third anniversary and the project has come a long way since 2017. Bitcoin cash (BCH) has garnered widespread attention, its the fifth-largest market by valuation, and developers have completed a number of beneficial upgrades over the last few years. BCH has solidified itself as the go-to cryptocurrency for a reliable peer-to-peer electronic cash system.

At Bitcoin Cash Games we want to celebrate the third BCH anniversary so our gaming casino is launching a leaderboard with a total of $3,000 for you to win. Anyone can participate in this special promotion by playing any of these exclusive games available on the casino: Exclusive Slots, Keno and Roulette.

Then the top 15 players will get a bonus reward at the end of the Bitcoin Cash Games promotion. The more a player bets, the higher their ranking will be on the leaderboard. Moreover, we launched a social campaign where you can claim a $10 bonus through the casinos official Twitter.

Bitcoin Cash Games brings yet another opportunity for players to engage in online entertainment and win big jackpots using BCH as its primary currency. Our gaming portal has always hosted a broad array of provably fair gaming for cryptocurrency enthusiasts who like to play for high stakes recreation.

It is an online gaming platform where players can engage in all their favorite casino games without worrying about KYC or upper limits on deposits. Furthermore, BCH withdrawals are always done in a safe and secure digital environment. We think that you will find our platform is the ultimate destination for classic casino gaming with a BCH twist.

At Bitcoin Cash Games our gaming portal offers free spins, exciting promotions, cashback, and regular bonuses. So what are you waiting for? Check out Bitcoin Cash Games today.

What do you think about Bitcoin Cash Games launching a $3,000 leaderboard tournament to celebrate the third Bitcoin Cash anniversary? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Bitcoin Cash Games

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Bitcoin Cash Games Launches $3K Leaderboard Tournament to Celebrate the 3rd BCH Anniversary | Promoted - Bitcoin News

Is it a Good Time to Buy Bitcoin? – FX Empire

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The swing trade took one month to play out and we had to sit through a lot of noise, but the price structure never turned bearish, even though it appeared questionable at times.

The question everyone is asking: now a good time to buy? And in terms of our long-only swing trade strategy, the answer is NO. Why not? It looks strong now? The risk of retrace after such a move is very high. This is NOT a location that offers attractive reward/risk, even though price appears to be pushing higher.

Now that we are out of our position, we WAIT for the next long setup and this begins with first anticipating an inflection point. At the moment, that point is the 10,400 area. This is the previous range resistance, which is now likely to act as a new support. IF price can retrace to this area, and produce a setup, we will be prompted to share a new swing trade idea. It may find support sooner, but only price action can provide the evidence and there is nothing at the moment except for vertical candles.

This is the herd mentality in action. No one was excited about Bitcoin at 9200, or 9K but now it looks strong again. Markets are irrational and driven by the forces of greed and fear which often lead to the wrong timing. The effective thing to do in such a situation is lock in profits while the buyers are plentiful, even if it is just a portion of the position. Effective behavior and following a set of rules are what produce results, NOT chasing a market after it has made a significant move. Want to learn more? Visit the link to my website which you can find on my profile page.

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Is it a Good Time to Buy Bitcoin? - FX Empire

Major Investment Bank Oppenheimer Bullish on Bitcoin, Highlights Instead of Gold | News – Bitcoin News

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U.S. investment bank Oppenheimers analyst says gold is extended and has run up a bit, bringing attention to bitcoin instead. He sees the cryptocurrency reversing its downtrend from the $20K peak, benefiting from the dollars weakness.

Ari Wald, head of technical analysis at Oppenheimer, a major American investment bank and financial services company, highlighted bitcoin this week on CNBCs program Trading Nation entitled Gold vs. Bitcoin.

He explained: Weve been recommending gold as a way to play the expansion of the Feds balance sheet Its actually the high momentum commodity, it ranks highest above all commodities out there in terms of momentum. While pointing out that gold is extended and has run up a bit, the analyst affirmed, We do recommend sticking with it. Nonetheless, he added:

I think its worthwhile to highlight bitcoin instead which isnt as extended Bitcoin is reversing its downtrend dating back to its 2017 peak. If you are a long-term holder, this is the type of action youd like to see.

Bitcoin is currently trading at about $10,970, having risen 17% this week and 54% this year. Its price is still well below its December 2017 peak of nearly $20,000. Wald noted that the cryptocurrencys recent breakout is setting up for more gains ahead and bitcoins long-term trendline suggests it has plenty of room to run. Meanwhile, the price of gold has hit record highs this week, rallying 8% this month and 28% this year.

Both gold and bitcoin are benefiting from the weakness of the U.S. dollar, Wald continued. Michael Binger, president of Gradient Investments, concurred with Wald about the dollar but he favors gold over bitcoin.

Binger opined: Between the two I would really lean on the gold side here. When you think about it, it is really a Goldilocks environment for gold investors right now. I mean, you have a weak U.S. dollar, you have negative real interest rates. All of this is based on the prospect of rising inflation. While agreeing with the Oppenheimer analyst that bitcoin is a momentum play, Binger still believes that it is not a valid currency yet.

What do you think about the Oppenheimer analysts view? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Major Investment Bank Oppenheimer Bullish on Bitcoin, Highlights Instead of Gold | News - Bitcoin News

Bitcoin Association hires Patrick Prinz as Europe & Operations Manager to further advance Bitcoin SV – PRNewswire

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ZUG, Switzerland, July 30, 2020 /PRNewswire/ -- Bitcoin Association, the Switzerland-based global industry organization that advances Bitcoin Satoshi Vision (BSV), has named Patrick Prinz, CFA as its new Europe & Operations Manager. Working out of the Association's headquarters in "Crypto Valley" Zug, Switzerland, Prinz will serve two roles advance the business growth ofBitcoin SV throughout Europe and support the operational needs of the organization globally.

Bitcoin Association supports Bitcoin SV because it is the only blockchain protocol adhering to Bitcoin creator Satoshi Nakamoto's original design and vision for Bitcoin to become a peer-to-peer electronic cash system and global data ledger for enterprise.The Bitcoin SV ecosystem has rapidly grown to over 428 known Bitcoin SV projects and venturesworldwide.Developers and businesses are discovering the value of the Bitcoin blockchain when it massively scales a public ledger capable of huge transaction volumes, micropayments, greater data capacity, smart contracts, tokenization, and many advanced applications.

A true believer in this Satoshi Vision for Bitcoin, Prinz has a strong background in financial services and strategy consulting.Most recently, he worked as a senior investment advisor for a global asset management group.Prinz advised on emerging technologies, and discovered the benefits of having a single, massively scalable, public, auditable ledger for storing any type of data and allowing value transfer at a micropayment level only possible using the Bitcoin SV blockchain.

Previously, Prinz was a consultant at a leading strategy consulting firm acting as advisor to international banks on how to incorporate complex regulatory requirements and adapt business models to industry paradigm shifts.He began his career in corporate and investment banking, working at Deutsche Bank and Citi. Prinz holds a Master of Science degree in Banking and Finance and a Bachelor of Science degree in International Business Administration.

Speaking on his appointment, Prinz said: "Bitcoin SV is finally fulfilling the potential that initially excited me about Bitcoin many years ago to achieve efficiencies as the single public data ledger and micropayment system for the world. As I was puzzled by the fact that innovation and development were not happening on BTC, I did my own extensive research and realized that Satoshi Nakamoto's original design and the Bitcoin white paper always had the answers to achieve a massively scalable global public blockchain. With scaling comes efficiency, and with efficiency come innovation and entrepreneurship which is all happening on Bitcoin SV with the emergence of completely new business models powered by microtransactions and the immutable public ledger that Bitcoin is. I am thrilled to join Bitcoin Association to work with businesses and entrepreneurs to educate them on the transformative power which Bitcoin SV brings to the world."

Jimmy Nguyen, Founding President of Bitcoin Association, commented: "With Patrick's addition, we welcome to our team another high-caliber professional with international business experience. Patrick will play a vital role in operational management as we grow our headquarters in Zug, Switzerland.He will also be a strong business voice for Bitcoin SV across Europe with his financial services knowledge, effective communication skills, and passionate belief in Bitcoin's true power."

Patrick's hire is the latest step in the global expansion of Bitcoin Association.He joins two other regional business managers - Lise Li (China) and Ella Qiang (Southeast Asia, based in Singapore) - all with considerable experience in both Bitcoin and business. Additional team members come from the United States, United Kingdom, Australia, China, and New Zealand.The staff is further supported by Bitcoin Association Global Ambassadors in Argentina, Australia, Brazil, China, Germany, Israel, Japan, Netherlands, Panama, Russia and CIS region, the Scandinavia region, Slovenia, South Africa, South Korea, Spain, and the United States.

About Bitcoin Association

Bitcoin Associationis the Switzerland-based global industry organization which advances the Bitcoin SV digital currency and blockchain. Trading as BSV, Bitcoin SV (Satoshi Vision) is the original Bitcoin protocol created by Dr. Craig S. Wright. The Association brings together enterprises, start-up ventures, developers, merchants, exchanges, service providers, blockchain transaction processors (miners), and others in the Bitcoin SV ecosystem to advance the growth of Bitcoin commerce. The Association seeks to build a regulation-friendly ecosystem that fosters lawful conduct while encouraging technology innovation.

To hear from Bitcoin SV industry leaders, attend or watch the CoinGeek Liveconference September 30-October 2, 2020. It will be a hybrid live + virtual event, with live venues in New York, USA and London, UK.

SOURCE Bitcoin Association

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Bitcoin Association hires Patrick Prinz as Europe & Operations Manager to further advance Bitcoin SV - PRNewswire

Parts of Northern England banned from meeting others indoors after spike – Telegraph.co.uk

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Masked pilgrims arrived Thursday at Mount Arafat, a desert hill near Islam's holiest site, to pray and repent on the most important day of the hajj, the annual pilgrimage in Mecca in Saudi Arabia.

The global coronavirus pandemic has cast a shadow over every aspect of this year's pilgrimage, which last year drew 2.5 million Muslims from across the world to Mount Arafat, where the Prophet Muhammad delivered his final sermon nearly 1,400 years ago.

Only a very limited number of pilgrims were allowed to take part in the hajj amid numerous restrictions to limit the potential spread of the coronavirus.

The Saudi government has not released a final figure on the number of hajj pilgrims this year, but has said anywhere from 1,000 to 10,000 would be taking part. All of this year's pilgrims are either residents or citizens of Saudi Arabia.

In past years, a sea of pilgrims dressed in white terrycloth garments would start to gather at Mount Arafat, or hill of mercy as it's known, before dawn and remain there until nightfall, spending the day in deep contemplation and worship.

International media were not allowed to cover the hajj from Mecca as was customary in past years. Instead, state-run Saudi TV has carried a live broadcast of some parts of the hajj, including Thursday's arrival of pilgrims to Namira Mosque in Arafat where a sermon will be delivered.

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Parts of Northern England banned from meeting others indoors after spike - Telegraph.co.uk

House Blocks AOC’s Amendment To Bar U.S. Military From Recruiting On Video Game Streaming Sites Like Twitch – Forbes

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TOPLINE

The U.S. House of Representatives on Thursday blocked an amendment to its Defense Appropriations bill for fiscal 2021 that would have barred the U.S. military from recruiting on video game streaming sites like Amazon's Twitch, with the amendment's author Rep. Alexandria Ocasio-Cortez (D-N.Y.) saying on the floor, "War is not a game."

NEW YORK, NY - APRIL 14: Representative Alexandria Ocasio Cortez (D-NY) speaks at a press conference ... [+] at Corona Plaza in Queens on April 14, 2020 in New York City. Ocasio-Cortez was joined by Senate Minority Leader Chuck Schumer (D-NY) at the conference, where both called for the Federal Emergency Management Administration to fund funeral costs in low-income communities of color during the ongoing amid the coronavirus pandemic. (Photo by Scott Heins/Getty Images)

"This amendment is specifically to block recruitment practices and funding for recruitment practices on platforms such as Twitch.tv, which are live-streaming platforms which are largely populated by children well under the age of military recruitment rules," Ocasio-Cortez said.

While Republicans unanimously opposed the measure, Democrats were split, with Ocasio-Cortez taking to Twitter during the vote to say, "Imagine trying to explain to your colleagues who are members of Congress what Twitch is."

The U.S. Airforce, Army and Navy all sponsor esports teams with members streaming to Twitch, but recent controversies prompted concerns over the recruitment practice.

Twitch stepped in to stop the Army from using a faux giveaway to redirect viewers to a recruitment form, and lawyers from the Knight First Amendment Institute at Columbia University demanded that the Army and Navy reverse bans on their Twitch channels against a user who asked about U.S. war crimes in the channels' chats.

Rep. Pete Visclosky (D-Ind.), who chairs the Defense Appropriations Subcommittee, spoke out against the amendment during debate, saying, "The United States Military is a very special place...we oughta cast a very wide net to encourage young Americans to serve their country in the military."

Visclosky argued the military conducts educational programs for young people, but Ocasio-Cortez responded, "Children on platforms such as Twitch are bombarded with banner ads that link to recruitment sign up forms that can be submitted by children as young as 12 years old. These are not educational outreach programs but recruitment forms."

Referencing first-person shooter games popular with military members streaming on Twitch, like Call of Duty, Ocasio-Cortez said, "We cannot conflate war and military service with this kind of gamified format." She later tweeted, "Its totally fine if you dont know what Twitch is, but tech literacy is becoming an [sic] growing need in Congress so we can legislate to protect peoples privacy."

Using games as a means to recruit young people into the U.S. military isnt new. In 2002, the Army launched the America's Army series of video games, the latest being the free-to-play America's Army: Proving Grounds. "Funded by the Army Marketing and Research Group, America's Army, the official game of the U.S. Army, delivers an authentic and entertaining Army experience by reflecting the values, training, technology, skills and career advancement of a United States Army Soldier," the official video game page reads. Proving Grounds is rated Teen, meaning the content in the game is suitable for people ages 13 and older.

Following the accusations that the U.S. Army violated the first amendment right to free speech by banning a Twitch user from its channeljust as President Trump is restricted from blocking Twitter usersthe military branch told GameSpot that it would pause activities on the platform and "review internal policies and procedures, as well as all platform-specific policies, to ensure those participating in the space are clear before streaming resumes. The "About" page for the Navy's esports channel reads, "Other people will tell you not to stay up all night staring at a screen. Well pay you to do it."

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House Blocks AOC's Amendment To Bar U.S. Military From Recruiting On Video Game Streaming Sites Like Twitch - Forbes

The PACT Act Is Not The Solution To The Problem Of Harmful Online Content – EFF

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The Senate Commerce Committees Tuesday hearing on the PACT Act and Section 230 was a refreshingly substantive bipartisan discussion about the thorny issues related to how online platforms moderate user content, and to what extent these companies should be held liable for harmful user content.

The hearing brought into focus several real and significant problems that Congress should continue to consider. It also showed that, whatever its good intentions, the PACT Act in its current form does not address those problems, much less deal with how to lessen the power of the handful of major online services we all rely on to connect with each other.

As we recently wrote, the Platform Accountability and Consumer Transparency (PACT) Act, introduced last month by Senators Brian Schatz (D-HI) and John Thune (R-SD), is a serious effort to tackle a serious problem: that a handful of large online platforms dominate users ability to speak online. The bill builds on good ideas, such as requiring greater transparency around platforms decisions to moderate their users contentsomething EFF has championed as a voluntary effort as part of the Santa Clara Principles.

However, we are ultimately opposed to the bill, because weakening Section 230 (47 U.S.C. 230) would lead to more illegitimate censorship of user content. The bill would also threaten small platforms and would-be competitors to the current dominant players, and the bill has First Amendment problems.

One important issue that came up during the hearing is to what extent online platforms should be required to take down user content that a court has determined is illegal. The PACT Act provides that platforms would lose Section 230 immunity for user content if the companies failed to remove material after receiving notice that a court has declared that material illegal. Its not unreasonable to question whether Section 230 should protect platforms for hosting content after a court has found the material to be illegal or unprotected by the First Amendment.

However, we remain concerned about whether any legislative proposal, including the PACT Act, can provide sufficient guardrails to prevent abuse and to ensure that user content is not unnecessarily censored. Courts often issue non-final judgments, opining on the legality of content in a motion to dismiss opinion, for example, before getting to the merits stage of a case. Some court decisions are default judgments because the defendant does not show up to defend herself for whatever reason, making any determination about the illegality of the content the defendant posted suspect because the question was not subject to a robust adversarial process. And even when there is a final order from a trial court, that decision is often appealed and sometimes reversed by a higher court.

Additionally, some lawsuits against user content are harassing suits that might be dismissed under anti-SLAPP laws, but not all states have them and there isnt one that consistently applies in federal court. Finally, some documents that appear to be final court judgments may be falsified, which would lead to the illegitimate censorship of user speech, if platforms dont spend considerable resources investigating each takedown request.

We were pleased to see that many of these concerns were discussed at the hearing, even if a consensus wasnt reached. Its refreshing to see elected leaders trying to balance competing interests, including how to protect Internet users who are victims of illegal activity while avoiding the creation of broad legal tools that can censor speech that others do not like. But as weve said previously, the PACT Act, as currently written, doesnt attempt to balance these or other concerns. Rather, by requiring the removal of any material that someone claims a court has declared illegal, it tips the balance toward broad censorship.

Another thorny but important issue is the question of competition among online platforms. Sen. Mike Lee (R-UT) expressed his preference for finding market solutions to the problems associated with the dominant platforms and how they moderate user content. EFF has urged the government to consider a more robust use of antitrust law in the Internet space. One thing is certain, though: weakening Section 230 protections will only entrench the major players, as small companies dont have the financial resources and personnel to shoulder increased liability for user content.

Unfortunately, the PACT Acts requirements that platforms put in place content moderation and response services will only further cement the dominance of services such as Facebook, Twitter, and YouTube, which already employ vast numbers of employees to moderate users content. Small competitors, on the other hand, lack the resources to comply with the PACT Act.

The hearing also touched upon understandably concerning content categories including political and other misinformation, hate speech, terrorism content, and child sexual abuse material (CSAM). However, by and large, these categories of content (except for CSAM) are protected by the First Amendment, meaning that the government cant mandate that such content be taken down.

To be clear, Congress can and should be talking about harmful online content and ways to address it, particularly when harassment and threats drive Internet users offline. But if the conversation focuses on Section 230, rather than grappling with the First Amendment issues at play, then it is missing the forest for the trees.

Moreover, any legislative effort aimed at removing harmful, but not illegal, content online has to recognize that platforms that host user-generated content have their own First Amendment rights to manage that content. The PACT Act intrudes on these services editorial discretion by requiring that they take certain steps in response to complaints about content.

Amidst a series of bad-faith attacks on Internet users speech and efforts to weaken Section 230 protections, it was refreshing to see Senators hold a substantive public discussion about what changes should be made to U.S. law governing Internet users online speech. We hope that it can serve as the beginning of a good-faith effort to grapple with real problems and to identify workable solutions that balance the many competing interests while ensuring that Internet users continue to enjoy the diverse forums for speech and community online.

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The PACT Act Is Not The Solution To The Problem Of Harmful Online Content - EFF

How do CEO’s Succeed with Artificial Intelligence at their Workplace? – Analytics Insight

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Artificial Intelligence has arrived and it is good time that the C-suite especially the CEOs take a note of it. However, with the media hype surrounding digital transformation and AI the decision-makers of an enterprise often left in quandary as to how and when to implement AI and what to do with this business transformative technology.

With tangible results and takeaways, AI has shown real outcomes for early adopters resulting in a sense of trust and a feeling of assurance. To aid the C-Suite to derive benefits from this technology, Harvard Business Review has come up with a set of pointers which enterprisers both big and small need to know, for AI success in their workplace-

1. C-suite must take its time to evaluate the critical success from AI before deciding on a pilot.

2. It is good to believe in the hype surrounding AI implementation, disruptive technologies can potentially boost enterprise returns.

3. AI transformation might not succeed without the support of decision-making management.

4. Partnering for capability and capacity creation is a must for AI success.

5. Trust other technologies too, and avoid the temptation of putting tech teams solely in charge of AI implementation.

6. Accelerate the enterprise AI journey with a portfolio approach.

7. Machine Learning is powerful, but weigh your enterprise use cases before selecting the technology.

8. Build digital capabilities before an AI pilot project.

9. Take the change in overseeing the AI pilot in the first place.

10. Beware, people, change management and process-up-gradation are the biggest challenges.

The buzz around Artificial Intelligence (AI) has grown by leaps and bounds, all set to instil confidence among the C-suite all across the world. This is marked by an increase in investments and the widespread interest by venture capitalists, tech powerheads and change-makers. AI-infused digital transformation success stories are becoming all the louder and more prominent across enterprises crisscrossing domain functionalities.

The key adoption point of the IA influx arises from the adoption in AI machine learning and NLP infusion, to deliver more output and results that suits all the AI adopters. The AI adaptability across different industries will be different from BFSI, Telecom and Logistics all set to lead the way, while healthcare and the government sector is slowly and steadily preparing for the transitional shift.

In the future, developing new business models to build a growth path that is flexible and robust will be critical to digitization. The same seems to hold for AI, early AI adopters have been very proactive and robust in adoption g to the change, setting up examples for others to follow.

Summing up, the C-Suite must not make any mistake, the digital adoption is here, and the faster they realize its presence and embrace to these new technologies, the quicker they would adopt and stay in the competition race, else the time will come soon for perish. We are talking of a technology-dominated digital transformation era in some years from now.

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Kamalika Some is an NCFM level 1 certified professional with previous professional stints at Axis Bank and ICICI Bank. An MBA (Finance) and PGP Analytics by Education, Kamalika is passionate to write about Analytics driving technological change.

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How do CEO's Succeed with Artificial Intelligence at their Workplace? - Analytics Insight

The AI-boost: Using more artificial intelligence will boost GDP growth – The Financial Express

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A PwC study in 2017 estimated the world would gain $15.7 trillion by 2030 if artificial intelligence (AI) was adopted across nations. The study said that AI would first lead to productivity enhancement, and a major portion of gains would accrue from consumer-side effects. China, it had said, could see its GDP rising by around a fourth as it was using AI more aggressively. Although the study did not estimate how much India would gain from using AI, new research by Icrier along with Nasscom and Google shows that even a marginal increase in artificial intelligence adoption may add 2.5% to GDP in the immediate term. Moreover, it highlights that if the government spends the Rs 7,000 crore it had envisaged for the national AI programme, GDP could get boosted by as much as $86 billion. The way Icrier sees it, as AI becomes what it calls a general purpose technologylike the internetits impact rises; essentially, then, the pace of Indias digitisation drive will determine how fast AI is adopted.

To understand how fast the adoption of AI can take place and its impact on total factor productivity, Icrier studied 1,553 firms that have some software investment. What it found was that there was a huge gap in the use of AI, suggesting a large untapped potential. AI-intensity was defined as the ratio of software investment to total sales, and the study found that, for instance, in the case of agriculture, while the average AI intensity is 0.001, the maximum intensity was 20 times as much. For electrical and optical equipment manufacturing, the difference between the average and the top in the industry was 145-times; it was 742 in the case of trade and in the case of services, the average intensity was 0.159, while the maximum intensity was 110.

The report, however, argues that businesses alone wont be able to push AI, the government will have to play a bigger role, by setting up a nodal AI agency to push for AI-adoption and also drive business, government and academia partnerships. Another suggestion is to initiate large-scale skill development programmes to get the workforce ready for AI-adoption. What is worrying, however, is the slow pace of digital adoption so far, though the pandemic has helped speed up things a big; both the education and health sector, for instance, are likely to see faster adoption of AI techniques. A related problem is that of cybersecurity where India needs both a national strategy and a governance structure that is more well-defined.

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