Artificial Intelligence: Crypto.com launches AI assistant

Crypto.com exchange has launched its own ChatGPT, an AI user assistant today.

According to the company, artificial intelligence will help inform and provide users insight into the industry, as well as provide real-time token prices, projects and historical events.

The executive vice president of products at Crypto.com Abhi Bisarya, says the company is bullish on the usage of AI in crypto.

According to him;

“As with other businesses and sectors, we see incredible potential and opportunity in the convergence of AI with the crypto industry and our platform specifically.”

According to a spokesman for Crypto.com, despite the “early days” of generative AI, if used responsibly, there could be “massive positive implications” for many businesses.

The spokesman added;

“This is especially true of cryptocurrency when it comes to assisting in users’ education of the underlying technology and financial services in general.”

Crypto.com is not the first nor the last

Before Crypto.com’s declaration, other cryptocurrency exchanges such and wallets in the industry have started integrating AI applications into their platforms. OKX exchange recently launched an AI algorithmic feature to capture crypto market volatility.

Similarly, Solana Labs, a Web3 infrastructure company, on April 26, announced its own ChatGPT plugin, which fetches blockchain data to check wallet balances, transfer tokens and purchase nonfungible tokens.

Recently, Binance, one of the top crypto exchange companies launches an AI chatbot, just like Crypto.com. This chatbot is hinged on user education as part of the company’s Web3 academy.

Also, Bitget recently pledged $10 million towards the development of Fetch.ai, an ecosystem that provides consultation on marketing.

What it Means to the Industry

The introduction of ChatGPT, Crypto.com’s AI user assistant, indicates that the fusion of AI and the cryptocurrency market is gaining ground. Following a trend, other cryptocurrency exchanges and wallets have begun incorporating AI applications into their platforms. Crypto.com has done the same. Although the adoption of AI in the cryptocurrency sector is still in its infancy, it offers tremendous potential and growth opportunities. Growth, education, and innovation potential are presented by the incorporation of AI in the cryptocurrency sector. It is still unclear how this tendency will change and affect the sector over time.

Key Takeaway

• Crypto.com follows the step of other crypto exchanges to launch an AI user assistant.
• The AI is to provide users with insights and price projections in the crypto market.
• This might lead to other groundbreaking events in the crypto industry.

Conclusion

While Crypto.com is still waiting for feedback on its maiden edition of the AI launch, it is safe to say that this new trend has come to stay. It is therefore becoming imperative to have a vast knowledge of AI use as a trader or investor. while there is artificial intelligence that helps predict market volatility, human input is still needed. However, we are yet to know how this will turn out later in future, due to the fact that the influx of new technology also brings with it challenges we need to look out for. Finally, the crypto industry is evolving and AI is spearheading these events.