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Global search interest in the term “AI” has hit a new all-time high on Google, though data has shown it has yet to hold onto the peak of Bitcoin (BTC) mania in 2017.
Artificial intelligence has dominated the headlines over the past few months, with some speculating that it is the latest “technological fad” after cryptocurrencies and the metaverse.
Most recently, OpenAI executives warned in a May 23 blog post that over the next 10 years, AI will surpass the level of expertise in “most fields” and be as productive as “one of today’s largest corporations.”
However, even though global and US AI search interest has peaked, reaching #89 on Google Trends, it still falls short of Bitcoin’s peak search interest of 100 in December 2017 when Bitcoin was approaching its then maximum of $20,000.
According to a Business Insider report, on May 31, Mark Shilsky, technologist at Alliance Bernstein, noted that AI is “still well below the absolute level of hype around Bitcoin.” His analysis was specifically focused on US search trends.
Shilisky compared three of the “busiest segments of the tech industry” over the past 10 years — AI, the Metaverse, and Bitcoin — and found that peak search volume for Bitcoin is higher than peak search volume for AI so far.
China says Bitcoin who?
However, the results are very different in China, where cryptocurrency is banned and Google search is limited. The country prefers Baidu as a search engine.
According to Google Trends, since May 2013, Google users in China have shown more monthly interest in AI compared to Bitcoin.
Over the past decade, there have only been three instances where Bitcoin has outperformed AI search results in China, coinciding with significant developments related to Bitcoin.
In November 2013, Bitcoin surpassed AI in search time for the first time in China, coinciding with the then highest level of $300 on the now defunct Mt. gox.
In December 2017, when Bitcoin hit a high of almost $20,000, Bitcoin again became the leader of search interest.
The third and most recent incident occurred in February 2021 when Bitcoin soared above $43,000 following the news that Tesla bought $1.5 billion worth of Bitcoin and its decision to start accepting payments in Bitcoin.
The country banned cryptocurrencies in 2021, and shortly thereafter, Cointelegraph staff in China reported that online searches of several major cryptocurrency exchanges were yielding no results.
Related: Australia asks if ‘high risk’ AI should be banned in surprise consultation
Meanwhile, in April 2023, the number of search queries for the word “AI” in China reached its all-time high of 100. Today, the figure is about 94.
In May, Flytek, a Chinese state-sponsored artificial intelligence company, announced the launch of “Spark Model”, an artificial intelligence system designed to compete directly with OpenAI’s ChatGPT.
Chinese officials recently discussed the need for “a focused effort to ensure political security and improve the governance of Internet data security and artificial intelligence” during a May 30 meeting. According to local media, it was stated:
“We must be prepared for the worst and most extreme scenarios and be prepared to withstand the severe test of strong winds, choppy waters and even dangerous storms.”