The Real Value of AI in Crypto: Going Beyond the Hype

Examining the Impact of AI in Trading, Data Analytics, and User Experience

In the midst of the buzz surrounding AI in the crypto industry, Cointelegraph set out to uncover the true value that this technology brings. By exploring three key areas where AI is making an impact - trading, data analytics, and user experience - we wanted to separate the hype from reality.

Enhancing Trading with AI-Powered Bots

For years, trading bots have allowed users to automate trades based on predetermined parameters. However, recent developments in AI, such as the creation of Large Language Models like ChatGPT, have taken this to a new level. These AI-powered bots are now capable of processing vast amounts of historical data, assisting in predicting future price movements.

Despite these advancements, it's important to note that AI-powered bots still have limitations when it comes to complex trading strategies. Cryptocurrency trader and YouTuber Eric Crown compares them to "a bunch of dumb partners" who can follow basic commands but lack the ability for intricate thinking.

Unleashing the Power of Data Analytics

AI tools can revolutionize data analytics in the crypto industry by processing extensive amounts of public data found on the blockchain. This enables valuable insights into the dynamics of the crypto ecosystem and the ability to assess potential market risks.

However, a significant amount of market data is held off-chain by centralized exchanges, making it inaccessible to AI algorithms. This lack of access limits the accuracy of AI assessments and analysis.

Discovering the True Value at the Intersection of AI and Crypto

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