Bybit, a cryptocurrency exchange located in Dubai, has crafted a trading tool powered by artificial intelligence (AI) which can extract trading insights and answer intricate questions using its market data.
Titled TradeGPT, this tool is promoted as an educational instrument powered by AI. It harnesses the generative potential of the ChatGPT large language model and Bybit’s proprietary ToolsGPT to offer instantaneous market evaluation and respond to user inquiries in multiple languages.
A revelation to Cointelegraph emphasized TradeGPT’s capability to present market tactics and products when in dialogue with a user.
Bybit introduced ToolsGPT in June 2023. This system blends the AI and machine learning prowess of ChatGPT with Bybit’s market insights to execute technical and funding evaluations as well as predictive modeling. But Bybit isn’t alone; several crypto exchanges are leveraging ChatGPT to offer distinctive perceptions on token valuations, market trends, and initiatives. For instance, Crypto.com unveiled its ChatGPT-infused assistant named “Amy” in May 2023. Binance also incorporated OpenAI’s chatbot into its educational wing, Binance Academy, which pulls responses from its content repository and extensive information on the Web3 environment.
OKX is delving into the potential of AI too, having merged with EndoTech’s AI utilities to scrutinize market unpredictability and pinpoint trading prospects. Additionally, Solana Labs has released a ChatGPT-driven extension enabling the expansive language model to oversee wallet totals, manage Solana-specific tokens, and handle NFT transactions.
Bybit’s recent AI ventures follow their new lending feature, which grants interest on crypto deposits within their platform, a service also spotlighted by Cointelegraph.
The rise of AI is reshaping multiple industries. For example, TinyTap, a subsidiary of Animoca Brands, leverages AI to curate instructional games and NFTs based on user indications.
In related news, Iris Energy, listed on Nasdaq, declared an investment of $10 million to acquire 248 of Nvidia’s H100 Tensor Core GPUs. Their aim? To dive deep into generative AI potential at their data hub locations.
The demand for AI-driven utilities, exemplified by tools like ChatGPT, significantly benefited chip and hardware producers, with Nvidia recording remarkable Q2 financial outcomes in 2023.
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