The famous cryptocurrency exchange, Bybit, is currently planning to harness the power of AI to provide a series of new tools via its integration with ChatGPT. OpenAI’s critically acclaimed model has been widely used in several industries, mainly for the provision of innovative solutions and services. It is believed that the cryptocurrency space, mainly investors, would benefit as a result of the AI-powered tool offered by the exchange.
Welcome the latest addition to our Tools Discovery family, ToolsGPT 🎉
ToolsGPT integrates ChatGPT's #MachineLearning and #AI capabilities with Bybit's comprehensive market data.
Learn more about it: https://t.co/8SAQvd9PEK#Bybit #TheCryptoArk pic.twitter.com/CtXKayN3Dq
— Bybit (@Bybit_Official) June 15, 2023
The new upgrade by the exchange, dubbed ToolsGPT, uses the power of ChatGPT’s machine learning capabilities and combines them with the exchange’s market data.
The combination of these two would result in the accurate provision of technical analysis, price data, and metrics. At the same time, the integration would also allow ToolsGPT to generate bespoke answers to all questions asked by traders. Bybit believes that the latest offering would not only provide insights but would provide predictions regarding different cryptocurrency trading scenarios. ToolsGPT would also be able to seamlessly analyze price trends based on market data for many cryptocurrencies.
In its announcement, Bybit stated,
“ToolsGPT is a powerful platform that integrates ChatGPT’s cutting-edge machine learning and artificial intelligence capabilities with Bybit’s comprehensive market data to empower traders with unparalleled insights. It can conduct technical analysis, funding analysis, model prediction and more.”
Bybit Is Not the Only One to Utilize AI Capabilities
Bybit claims that the latest upgrade includes the provision of price trends for several tokens, keeping in mind all possible technical indicators to forecast future market movements. The masses believe that the service is gearing up to cater to the needs of a greater audience consisting of traders of different experience levels. At the same time, ToolsGPT would be freely accessible to all users of the exchange.
The CEO of Bybit, Ben Zhou says that the integration of ChatGPT into the exchange is an innovative step that will help traders make informed decisions with the help of real-time and historical data and AI-generated advice.
Zhou further stated,
“By integrating ChatGPT into Bybit Tools, we are able to give users more comprehensive information when making their decisions. ToolsGPT is a testament to our commitment to empowering traders with advanced tools and insights.”
However, Bybit is not the first crypto exchange to utilize the capabilities of ChatGPT. Previously, Crypto.com launched its own ChatGPT-powered assistant in May 2023, dubbed Amy. Similarly, Binance also integrated the chatbot into its Binance Academy platform to generate answers from its databases for information on the greater Web3 ecosystem.
