This article briefly:
CoinMarketCap launches AI tool as cryptocurrency analyst, providing real-time responses to investor inquiries.
The tool can answer complex questions using CMC’s real-time encrypted data, increasing its intelligence over time.
Unlike traditional trading robots, AI trading robots can conduct deeper data analysis and identify patterns that are not obvious.
Cryptocurrency data aggregator CoinMarketCap has launched a new artificial intelligence (AI) tool that claims to provide investors with cryptocurrency analyst services.
It disclosed its ability to provide real-time responses to a variety of questions, from general educational inquiries to questions designed to aid investment decisions.
AI crypto analyst tools will leverage real-time data
In a recent statement, CoinMarketCap attributed the launch of the product to ChatGPT’s recent upgrade, which now enables it to explore the internet.
Until recently, due to a lack of internet connectivity, ChatGPT could only explore data prior to September 2021. However, a recent upgrade now gives it this capability.
CoinMarketCap claims that the tool can solve challenging questions posed by users using their internet connection:
“The plugin is designed to operate as an AI crypto analyst, capable of instantly answering complex queries using CMC’s real-time crypto data through simple chat prompts.”
It gives some examples of questions that could be asked. These tasks range from finding connections between different cryptocurrencies to determining the best days for Bitcoin’s performance.
As of the time of this article’s publication, the price of Bitcoin is $26,835.
Bitcoin price 7-day chart. Source: BeInCrypto
Furthermore, it can explain how major global events affect performance cycles.
The crypto industry moves fast, and news is constantly changing. This includes new court filings and updates on global governments’ stances on central bank digital currencies (CBDCs).
Artificial Intelligence Cryptocurrency Trading Bots Surge in Recent Years
At the same time, it clarifies that the more time users use the tool, the smarter it gets:
“Questions that once required time-consuming data analysis can now be answered instantly, and over time the plugin gets smarter as it learns from users’ queries.”
Several reports have emerged recently on the proliferation of AI cryptocurrency trading bots. Additionally, there have been speculations about their reliability and accuracy compared to traditional trading bots.
Compared to traditional trading robots that rely on simple algorithms based on technical indicators or price fluctuations, AI robots have the ability to conduct deeper data analysis.
The media has previously highlighted that AI trading robots are capable of using more complex algorithms. #CoinMarketCap #人工智能
