Bitfury launches artificial intelligence unit

European blockchain startup Bitfury Group has introduced a new artificial intelligence (AI) division to its arsenal to further push the companies “mission to build innovative new solutions.”

The new AI division will operate alongside Bitfury’s blockchain services portfolio; it will tap into the firms engineering teams research and development to build integrated product solutions.

“Just as blockchain technology enables us all to fix our most broken and distrusted systems, artificial intelligence will bring new and extraordinary benefits to nearly every facet of our lives,” noted Valery Vavilov, CEO and co-founder of Bitfury. 

“To help this incredible technology achieve maximum impact, Bitfury is expanding our mission to offer hardware and software solutions designed especially for AI applications.”

The firm expects to release AI-based products later this year and George Kikvadze, executive vice chairman of Bitfury, believes the company’s move into AI is a “logical expansion.”

He said: “Bitfury has been at the forefront of technological invention since our founding in 2011. 

“Our years of expertise building industry-leading hardware and software solutions for the blockchain industry equip us with the world-class expertise needed to build hardware and software solutions for our increasingly AI-assisted world.”

The company announced the appointment of Fabrizio Del Maffeo to lead its new AI division. 

Del Maffeo was previously vice president and managing director of AAEON Technology Europe, the AI and internet of things (IoT) computing company within the ASUS Group.

A big reason as to why Del Maffeo joined Bitfury is because he believes the company’s successes in blockchain and HPC confirms its strong commitment to increasing market access to emerging technologies. 

“I look forward to leading Bitfury’s AI team and to launching products that make it easier, safer and more cost-efficient for businesses to adopt artificial intelligence at scale,” he said.