In recent years, emerging technologies have been pervasive in many major industries around the world, whether it\u2019s\u00a0blockchain technology used to help combat<\/a> climate change or artificial intelligence (AI)<\/a> projected to drive economic growth.<\/p>\n At the Metaverse Entertainment Worlds (MEWS) conference in Monaco, Cointelegraph sat down with Stephen Castell to discuss how emerging technologies are creating new ethics, changing the game for banks and more.<\/p>\n Castell is an expert witness in class-action lawsuits in the United States, has a Ph.D. in mathematics, and has been recently involved in major lawsuits involving crypto giants, such as Voyager and Binance.<\/p>\n The legal expert began the talk by highlighting trust as a foundational theme in the emerging tech space. He tied trust to the recent banking crisis in the U.S<\/a>. and commented that this was also a \u201cfundamental idea of a bank\u201d at its conception.<\/p>\n However, banks now \u201cbasically run on a bad business model,\u201d he said. He pointed out that although the crypto community has visions to revolutionize the financial system through technological innovation, there needs to be regulation. <\/p>\n \u201cJust because it\u2019s crypto is different, there still are laws to protect investors, which govern crypto investments as much as they do any other potential investment.\u201d<\/p><\/blockquote>\n When it comes to emerging technologies like AI, Castell predicts that banks will be at the \u201cforefront\u201d of the adoption of such technology.\u00a0<\/p>\n \u201cThe banks are going to try and do it for the benefit of themselves,\u201d he said. \u201cTo be safe, to have safe money, to have good investments, not to lose, not to go bust, not to solve the conundrum of what they do on a bank run.\u201d<\/p>\n Related: <\/em><\/strong>US vice president gathers top tech CEOs to discuss dangers of AI<\/em><\/strong><\/a><\/p>\n Castell continued to point out that, aside from benefiting banks, the introduction of AI into humanity will cause the \u201cdemocratization and commoditization of intelligence.\u201d<\/p>\n \u201cIt means that any human on the planet, maybe even some animals, too, can be just as intelligent and as creative as the most intelligent and most creative person that there\u2019s ever been.\u201d<\/p><\/blockquote>\n He suggested that humans will need to be \u201csocialized\u201d with AI and other emerging technologies like the metaverse in order for it to be useful.\u00a0<\/p>\n \u201cIt\u2019s still going to do something for us \u2014 useful, valuable, exciting, productive. It\u2019s got to do all of those things if it\u2019s going to become generic.\u201d<\/p><\/blockquote>\n AI has had no scarcity in use cases<\/a> since it skyrocketed in popularity among the general public in recent months. Lawmakers in the United Kingdom are looking at the technology to be\u00a0used as a tool<\/a> for economic growth.\u00a0<\/p>\n In the crypto space, exchanges are\u00a0implementing AI-based chatbots<\/a> to help educate users on everything from industry news to token prices and events. <\/p>\n \u201cI really hope that all the new technologies that we\u2019re talking about actually will create new ethics for this new human species that we are.\u201d<\/p><\/blockquote>\n Castell believes that what is being seen now in the emerging tech space is just the beginning of what he called the \u201ccyborgization\u201d of humans. <\/p>\n Magazine: <\/em><\/strong>How to control the AIs and incentivize the humans with crypto<\/em><\/strong><\/a><\/p>\n<\/div>\n![\"\"](\"https:\/\/s3.cointelegraph.com\/uploads\/2023-05\/9579d7e5-f7de-4c12-b4d7-80734b6df2e9.jpg\" "\\"\\"")