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Bybit Introduces AI-Driven ‘TradeGPT’ for Real-Time Market Analysis and Informed Q&A

Dubai-based crypto exchange Bybit has unveiled an AI-enabled trading assistant that provides real-time market insights and responds to technical queries based on platform data.

The newly launched TradeGPT operates as an AI-empowered educational feature, leveraging both ChatGPT’s extensive language processing capabilities and Bybit’s proprietary ToolsGPT to offer instantaneous market assessments and answers in multiple languages.

Bybit initiated ToolsGPT in June 2023, amalgamating ChatGPT’s AI and machine learning proficiencies with Bybit’s market data to perform technical and funding analyses as well as predictive modeling.

Related: Bybit’s Dubai MVP License Has Limited Scope, Says CEO

Bybit is not alone in utilizing ChatGPT for delivering unique market perspectives, price trends, and information on projects. Crypto.com debuted its ChatGPT-driven assistant, named Amy, in May 2023. Binance also incorporated OpenAI’s chatbot technology into its educational platform, Binance Academy, pulling data from its extensive knowledge base and the broader Web3 ecosystem.

OKX is another exchange venturing into the AI domain, having integrated EndoTech’s AI functionalities to scrutinize market volatility and identify trading prospects. Solana Labs has also rolled out a ChatGPT-enabled plugin, which allows for wallet balance inquiries, Solana token transfers, and NFT trades.

The unveiling of these AI solutions aligns with Bybit’s recent expansion into lending services, offering interest returns on crypto deposits.

AI: A Driving Force for Sector-Wide Advancements

AI technology is increasingly becoming a cornerstone for innovation across various industries. For instance, Animoca Brands’ subsidiary TinyTap utilizes AI to create educational games and NFTs based on user inputs.

In related news, Nasdaq-listed Iris Energy has allocated $10 million to acquire 248 of Nvidia’s H100 Tensor Core GPUs, aiming to explore the potentials of generative AI at its data facilities.

Nvidia itself reported unparalleled Q2 performance this year, fueled by soaring demand for AI-based tools like ChatGPT.

Source: Link

Sentiment: Positive

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