Crypto exchange Bybit is incorporating a ChatGPT-based Artificial Intelligence (A.I.) tool in its trading forum to make market data analysis easy and automatic. Bybit is one of the world’s fastest-growing cryptocurrency exchanges, with approximately 10 million users worldwide.
The new tool, ToolsGPT, as per the official company sources, is an “A.I. chatbot that helps users with their queries for backtested price data, technical research, and analysis, along with other essential metrics,” just like Bybit traders can scrutinize future price trends using the past data and technical indicators.
ChatGPT’s Launch Was an Updated Version of the Previous Model
ChatGPT’s chatbot was created and designed by OpenAI, which used language processing technology and was released in November 2022. It saw rapid user adoption on its release and triggered an “A.I. arms race.”
One day in mid-November last year, workers at OpenAI got a surprising assignment of releasing a chatbot known as “Chat with GPT-3.5,” which had to be publicly accessible in two weeks.
The information baffled many OpenAI employees. The San Francisco-based artificial intelligence company worked towards releasing GPT-4, which was a new A.I. model, good at solving complex coding problems, writing essays, and more. After months of testing and fine-tuning, GPT-4 was almost ready. The company had to release the model in early 2023, along with regular chatbots, to let users try it for themselves.
But executives had revised their thoughts because they were worried that competitors and opponent groups might detract from them by launching their own A.I. chatbots before GPT-4.
They released a new chatbot that used a souped-up version of GPT-3, the company’s previous language model, which came out in 2020. ChatGPT was abode thirteen days later.
WorldWide ChatGPT with People in the Market
ChatGPT became a global spectacle within few weeks of its debut. Multiple usages have come out since it came into the market. People have used it to build apps, write poetry, and run therapy sessions. It has been welcomed by marketing firms, news publishers, and business leaders. It has set off a feeding craze of investors trying to get in on the next big thing in the A.I. rumble.
It also created controversy. Users said that ChatGPT is inclined to give unreasonable or incorrect answers. Some school districts nationwide, including New York City, have restricted ChatGPT to prevent students from submitting A.I.-generated assignments.
Before launching ChatGPT, some OpenAI employees wondered if the project would succeed. BlenderBot, an A.I. chatbot that Meta released months before, had flunked, and another Meta A.I. project, Galactica, was drawn down three days after its launch.
Crypto companies and everyone else in tech are trying to catch up with the A.I. trend by finding ways to execute artificial intelligence within their workflow with positive results. “By integrating ChatGPT into Bybit Tools, we can give users more information when making their decisions,” said Ben Zhou, CEO of Bybit, in a statement.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/06/16/ai-trading-tools-updated-through-chatgpt-in-bybit-dubai/