According to Cointelegraph, a recent report explored the real value that artificial intelligence (AI) brings to the cryptocurrency industry, focusing on three main areas: trading, data analytics, and user experience. Trading bots have long allowed users to execute trades automatically based on pre-set parameters. With the development of Large Language Models like ChatGPT, AI-powered bots can now process vast amounts of historical data, potentially aiding in predicting future price movements. However, these bots are not yet sophisticated enough to develop complex trading strategies.

Eric Crown, a professional crypto trader and YouTuber, described his experience with AI-powered bots as 'having a bunch of dumb partners who can adhere to very basic commands, but they can't do any very complicated thinking themselves.' In terms of data analytics, AI tools can process large amounts of public data on the blockchain, offering valuable insights into the crypto ecosystem's dynamics and assessing potential market risks. However, much of the market data is held off-chain by centralized exchanges and is not publicly available, limiting AI's ability to make accurate assessments. To learn more about the real value of AI in the crypto industry beyond the hype, the full Cointelegraph Report can be viewed on their YouTube channel.