Bybit Introduces AI-Powered ‘TradeGPT’ for Market Analysis and Data-Driven Q&A
Dubai-based cryptocurrency exchange Bybit has created an innovative trading tool called TradeGPT that leverages artificial intelligence (AI) to provide market insights and answer technical questions using its extensive market data.
TradeGPT is being hailed as an AI-driven educational tool that utilizes ChatGPT’s powerful language model and Bybit’s in-house ToolsGPT to offer real-time market analysis and answers to user queries in multiple languages.
Bybit’s announcement emphasizes TradeGPT’s ability to provide users with market strategies and product information that aligns with ongoing discussions. This tool builds upon the launch of Bybit’s ToolsGPT in June 2023, which combines ChatGPT’s machine learning capabilities with Bybit’s market data to conduct technical and funding analysis as well as model predictions.
AI Integration in the Crypto Market
Bybit is not the only cryptocurrency exchange exploring the integration of AI into its platform. Crypto.com introduced its own AI-powered user assistant, Amy, in May 2023. Binance also incorporated OpenAI’s chatbot into its Binance Academy platform to generate responses based on its extensive database of articles and information related to the Web3 ecosystem.
Another exchange, OKX, has also taken steps to explore AI’s potential by integrating EndoTech’s AI tools to analyze market volatility and identify trading opportunities. Additionally, Solana Labs launched a ChatGPT-powered plugin that enables users to check wallet balances, transfer Solana-native tokens, and trade nonfungible tokens (NFTs).
The development of these AI tools follows Bybit’s recent introduction of lending services to its users, which provides interest payouts for deposited cryptocurrencies on the exchange. Bybit is among numerous exchanges that offer this service.
The Impact of AI Across Industries
Artificial intelligence continues to drive innovation in various sectors. For instance, Animoca Brands subsidiary TinyTap utilizes AI to generate educational games and NFTs based on user prompts, while Nasdaq-listed Iris Energy has invested $10 million in Nvidia’s H100 Tensor Core GPUs to explore generative AI opportunities at its data center sites.
With a surge of interest in AI-powered tools like ChatGPT, chip and hardware manufacturer Nvidia posted record-breaking Q2 results in 2023.
To commemorate this moment in history and demonstrate support for independent journalism in the crypto space, this article can be collected as an NFT.
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