Donald Trump Appoints David Sacks as White House AI and Crypto Czar to Lead US Global Leadership in Crypto and AI.

Donald Trump has appointed David Sacks as the White House A.I. & Crypto Czar to lead US policy in artificial intelligence and cryptocurrency. Sacks will focus on making America a global leader in crypto and AI, establishing regulatory clarity, and fostering industry growth. The appointment signals a strategic focus on AI and cryptocurrency and the market anticipates increased regulatory clarity to bolster growth and innovation.

Donald Trump has appointed David Sacks as the White House A.I. & Crypto Czar, marking a strategic shift in U.S. policy towards artificial intelligence and cryptocurrency. Sacks, known for his expertise in both fields, will oversee the development of policies aimed at making America a global leader in crypto and AI, establishing regulatory clarity, and fostering industry growth. The appointment signals a significant focus on these technologies and the market anticipates increased regulatory clarity to bolster growth and innovation.

Sacks has been vocal about the impact of AI on the workforce, particularly within the crypto industry. In a recent post, he dismissed growing fears that AI will wipe out large segments of the workforce, arguing that AI still relies heavily on human supervision to generate real business value [1]. His comments come in response to a Microsoft Research study that identified 40 roles most likely to be replaced by AI, some of which are found within the crypto industry.

The study found that knowledge-based occupations such as news analysts, reporters, journalists, and technical writers are among the most impacted by AI. Customer service representatives were also high on the list [2]. The Microsoft researchers analyzed 200,000 anonymized Microsoft Bing Copilot chats to study real-world AI use, finding it’s mostly applied to information-gathering, writing, advising, and teaching. They then assessed how effectively AI completes specific tasks to calculate an “AI applicability score” for various roles. The reporting and writing roles received scores between 0.38 and 0.39, while the more data-driven market research analyst and data scientist roles were on the lower end of the spectrum, between 0.35 and 0.36 [2].

Sacks reached his conclusion after citing a post from former Coinbase chief technology officer, Balaji Srinivasan, who challenged some of the most prominent narratives about AI replacing human jobs. Srinivasan argued that AI is still constrained and does not truly replace human jobs but rather enhances human capabilities [3]. He noted that advancements such as GPT-4 displacing GPT-3 or Midjourney overtaking Stable Diffusion do not eliminate jobs but shift them to the latest models.

The appointment of Sacks comes at a time when the U.S. Department of Labor reported just 73,000 new jobs added in July, far short of the 100,000 estimates by Dow Jones. In the crypto space, job growth has been minimal, with just 38 new positions added to the CryptoJobsList.com board in July, while Remote3.co added 69 [2].

Sacks’ perspective underscores a broader debate on AI’s impact on employment. While some fear mass job displacement, the current evidence suggests AI is reshaping workflows and increasing the need for human-AI collaboration. In both the crypto and tech sectors, the focus remains on optimizing AI’s use without overestimating its disruptive potential.

References:
[1] https://cointelegraph.com/news/david-sacks-says-ai-job-loss-overhyped?utm_campaign=rss_partner_inbound&utm_medium=rss&utm_source=rss_feed
[2] https://www.ainvest.com/news/david-sacks-dismisses-ai-job-loss-fears-crypto-workforce-analysis-2508/
[3] https://en.coinotag.com/david-sacks-suggests-ai-job-loss-fears-may-be-overstated-amid-microsoft-study-highlighting-crypto-roles-at-risk/