On Monday, the cryptocurrency exchange Bybit announced it has designed an artificial intelligence (AI) trading tool that generates insights and answers for technical questions. This AI-driven education guide, dubbed TradeGPT, harnesses and combines the generative capabilities of ChatGPT’s language model and the Bybit ToolsGPT, which saw the light in June this year.
Bybit harnessing the brainpower of AI chatbot
Through the integration of these AI abilities, TradeGPT uses real-time market data to perform analyses, make movement predictions, and answer technical questions. The Dubai-based cryptocurrency exchange is not the only one that employs ChatGPT for market insights.
Crypto.com has its own AI user assistant, Amy, launched in May 2023. Binance, arguably the world’s foremost crypto exchange, also uses ChatGPT as a training tool. It produces responses to questions from the Binance database and the wider Web3 ecosphere.
OKX turned to EndoTech’s AI tools to analyse market volatility and trading potentials. Solana Labs, another blockchain platform, deployed a ChatGPT-driven plugin that monitors wallet balances, transfers tokens, and trades nonfungible tokens (NFTs).
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Turning to AI is becoming a pattern in the crypto community. Bybit’s TradeGPT initiative comes in the wake of the platform offering lending services.
The technology is treading ever deeper footprints throughout various industries as it becomes part of daily life and trading. For instance, platforms such as TinyTap use generative pre-trained transformer mechanisms to create educational games and NFTs.
As more and more businesses board the AI enterprise, the value of chip manufacturers, such as Nvidia and Arm, is soaring. The head of financial products, Vivien Fang, of Bybit feels tools such as ToolsGPT and TradeGPT are invaluable in an ever-changing financial environment.
