The rise of artificial intelligence (AI) has outshined the once dominant crypto narrative, a new study shows.
The study, conducted by analyzing Google Trends data, compared the search interest in AI and crypto jobs to provide insights into the levels of interest in these sectors.
It found that search interest in ‘AI jobs’ peaked at four times higher than ‘crypto jobs,’ based on data from Google Trends.
This surge in interest can be attributed to significant events such as the announcement of OpenAI‘s ChatGPT on November 30, 2022, and subsequent AI launches like Google Bard and Microsoft‘s investment in OpenAI.
The search interest for ‘AI jobs’ reached its peak score of 124 on April 30, 2022, just five months after the release of ChatGPT.
Although search interest has waned since then, it still remains four times higher than ‘crypto jobs.’
It is worth noting that artificial intelligence has been historically a more popular field than crypto for job seekers even prior to the recent AI gold rush.
In fact, the average search interest in ‘AI jobs’ was three times higher than ‘crypto jobs’ in 2020, up until the start of the crypto rally in early 2021.
The interest in ‘crypto jobs’ started to climb in January 2021, coinciding with major companies and thought leaders entering the crypto space.
This was around the time that major crypto payment platforms like Venmo, MasterCard, and PayPal introduced support for crypto payments.
Additionally, significant moves by companies like MicroStrategy and Square, as well as countries like El Salvador recognizing Bitcoin (BTC) as legal tender, contributed to the growing interest in ‘crypto jobs.’
Despite reaching its peak a few weeks after Bitcoin’s all-time high of $69,044.77 on November 10, 2023, the search interest in ‘crypto jobs’ remained considerably lower compared to ‘AI jobs’ at its peak.
The study also revealed a decline in search interest for ‘crypto jobs’ as the crypto market sentiment turned bearish.
This decline was especially notable with a low score of 9 by December 25, 2022, marking a significant drop of -288% from its peak.
The collapse of cryptocurrency exchange FTX and layoffs in prominent crypto exchanges and marketplaces like Crypto.com, Coinbase, and OpenSea, along with intensified regulatory scrutiny from authorities like the US Securities and Exchange Commission, all contributed to the waning interest in crypto and related job opportunities.
Despite this decline, current search interest in ‘crypto jobs’ remains slightly higher than pre-2020-2021 bull market levels, suggesting that there is still some interest in the sector despite the challenges it has faced.
Top Countries Interested in Crypto and AI Jobs
To further understand the global interest in both AI and crypto jobs, the study analyzed the top countries searching for these job opportunities.
Singapore ranked as the country most interested in crypto jobs, followed by the United Arab Emirates and Nigeria.
Singapore’s thriving crypto ecosystem and business-friendly climate have attracted significant investment in the crypto industry, with companies like Crypto.com and Gemini setting up operations there.
The UAE’s openness to crypto regulation has also made it an attractive destination for crypto firms. Nigeria, on the other hand, sees cryptocurrencies as a cost-effective alternative for money transfers and a way to bypass foreign currency restrictions.
When it comes to ‘AI jobs’, Singapore once again takes the leading position, followed by Pakistan and Kenya.
Singapore’s government has been actively promoting the adoption of AI tools in the public sector, making it a hub for AI job opportunities.
Pakistan’s Ministry of IT & Telecom has also announced initiatives to produce 1 million AI-trained IT graduates by 2027.
Likewise, Kenya has witnessed an increase in companies utilizing AI technology across sectors like agriculture, healthcare, and education.
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