All business sectors are gradually being transformed by the technological revolution brought about by artificial intelligence. The most notable revolution at the moment is the world’s interest in the state-of-the-art chatbot ChatGPT.
ChatGPT is an artificial intelligence model that engages in conversational dialogue. It is a chatbot, similar to the automated chat services available on some companies’ customer service websites. It was created by OpenAI, a technology research company whose goal is to make artificial intelligence benefit humanity as a whole. The “GPT” in ChatGPT stands for “Generative Pre-training Transformer“, which refers to the way ChatGPT processes language.
Potential uses of ChatGPT
This system could be used in a variety of ways, including improving the functionality of search engines, automating processes such as disputing traffic tickets or bills, and creating code, among many other applications. ChatGPT has also been accused of being abused by malicious actors. The bot could be used by hackers to create convincing malware or phishing scams. Similarly, the model could be tasked with creating and spreading misinformation.
How does ChatGPT generate revenue?
The company that developed ChatGPT, OpenAI, has not yet largely monetized the platform. On OpenAI’s website, ChatGPT was available for free as of January 11, 2023. According to Investopedia’s survey of ChatGPT itself, however, the company sells the application programming interface on a subscription basis to organizations that want to use the model for their own purposes.
OpenAI revealed in mid-January 2023 that it would launch ChatGPT Professional, a paid version of the software. According to reports, the paid version of the model will offer benefits such as no blackout windows, unlimited messages to send to the bot, and other similar benefits.
Will ChatGPT replace Google?
Asking a computer questions and getting quick answers can be helpful, and that’s exactly what Chatbot does. In addition to the answers it suggests to users, Google usually offers users links to websites it deems relevant. Because it uses the latest, carefully trained AI algorithms, ChatGPT’s answers often outperform Google’s suggestions.
Users should verify information with reliable sources before trusting ChatGPT’s answers. Since ChatGPT, unlike Google, uses only plain text without links or citations, confirming the accuracy of its answers takes work. In addition, Google develops its own substantial language models and uses AI heavily in its search algorithms, while ChatGPT is making progress. Therefore, it seems a bit unrealistic to think that ChatGPT will replace Google’s search engine, but it is definitely leading the way in that direction.
How to use ChatGPT for crypto currency trading?
The analytical capability and mechanization of AI Chatbots make digital token trading possible. Digital token trading with ChatGPT allows traders to make effective decisions based on real-time information, maximizing opportunities and profits.
1. Real-time crypto-currency analysis with ChatGPT
The crypto-currency market could undergo a complete transformation thanks to ChatGPT’s effective analytics and automation capabilities. By providing real-time data and insights, Chatbot can help traders and investors make more strategic decisions that maximize price movement and opportunities.
2. Develop a crypto-currency trading algorithm
Using Pine Script, a computer language used by TradingView, a Twitter user showed how he communicated with Chatbot. Also, how the tool turned a simple notification into a basic trading bot. Using the application programming interface provided by Binance, traders can also ask ChatGPT to create a code. However, this will display current orders for bitcoin BTC and other crypto-currency trading pairs (API).
3. MYC Trading
MYC Trading can be performed with the help of a Chatbot. To predict whether a digital token will enter a bullish or bearish phase, MYC Trading uses a combination of trend analysis and momentum oscillators. The trend line serves as a distinguishing feature; when the price touches an upward direction, a long signal may be displayed; when the price crosses a downward direction, a short signal may be displayed. This index suggests a starting point.
4. Creation of smart contracts
The Chatbot’s ability to create and manage smart contracts enables the creation of DAOs. However, this can improve organizational performance and make decisions based on predetermined standards and methodologies. DAOs can operate without the need for centralized control or long-term planning, allowing them to make decisions and take actions according to the rules defined in their smart contracts.