A cryptocurrency exchange situated in Dubai Bybit has created a trading tool that employs artificial intelligence (AI) to generate trading tips and answer technical questions based on market data.
TradeGPT is being marketed as an AI-powered teaching tool that uses ChatGPT’s large language model and Bybit’s in-house ToolsGPT to deliver real-time market data and responses to user inquiries in a range of languages.
TradeGPT’s capacity to give market strategies and products for methods being discussed with a user was highlighted in an announcement shared with Cointelegraph.
In June 2023, Bybit launched ToolsGPT. ChatGPT’s machine learning and AI capabilities are also integrated with Bybit market data to do technical analysis, funding analysis, and model forecasts.
Bybit is not the first cryptocurrency exchange that has experimented with ChatGPT in order to provide customers with unique insights regarding token pricing, market movements, and projects.
Amy, Crypto.com’s ChatGPT-powered user assistant, was debuted in May 2023. Binance has integrated OpenAI’s chatbot into its Binance Academy platform to create responses from its database of articles and knowledge about the Web3 ecosystem as a whole.
OKX is another exchange looking into the potential of AI after using EndoTech’s AI capabilities to monitor market volatility and trading opportunities. Solana Labs recently released a ChatGPT-powered plugin that allows users to check wallet balances, transfer Solana-native tokens, and trade nonfungible tokens (NFTs).
The release of these AI technologies follows Bybit’s providing of lending services to its users, with interest distributions for cryptocurrencies put on the exchange. As previously reported by Cointelegraph, Bybit is one of several exchanges that provide the service.
AI is proving to be a catalyst for innovation in a variety of industries. TinyTap, a subsidiary of Animoca Brands, is an example of a platform that employs AI to develop instructional games and NFTs based on user input.
Meanwhile, Nasdaq-listed Iris Energy announced a $10 million investment in 248 Nvidia H100 Tensor Core GPUs to investigate generative AI prospects at its data center sites. If you want you can also read – How to Use AI in Daily Life to Save Time and Money.
The semiconductor and hardware maker reported extraordinary Q2 earnings in 2023, owing to a surge in interest in AI-powered products such as ChatGPT.