How AI is changing crypto: Hype vs. facts
The latest Cointelegraph report looks to uncover the true value that artificial intelligence (AI) can bring to the crypto industry beyond the hype surrounding the technology. To do this, Cointelegraph looked at three main areas where AI is impacting crypto: business, data analytics and user experience.
For many years, trading bots have allowed users to automatically execute trades based on certain presets.
Large language models such as ChatGPT have recently evolved into AI-powered bots capable of processing large amounts of historical data, which can help predict future price movements.
However, despite recent advances, AI-powered bots are still not sophisticated enough to explain complex trading strategies.
Eric Crowe, a crypto trader and YouTuber, shared his personal experience with AI-powered AI: “It's basically like having stupid partners who obey the most basic commands, but can't do any complex thinking themselves.” Bots.
In terms of data analysis, AI tools can process large amounts of public data distributed across the blockchain, providing valuable insights into the dynamics of the crypto ecosystem and assessing potential market risks.
However, a large amount of market data is stored off-chain on a central exchange, and is therefore not publicly available. That limits the ability to make accurate assessments.
Check out the full report on Cointelegraph's YouTube channel and be sure to subscribe to learn more about the true value of AI intersection in crypto beyond claptrap!
