There has been many of talk recently about ChatGPT and how it may affect numerous areas of our lives.
Among the most talked about topics is the relationship it may have with the financial and financing world.
What may happen to the cryptocurrency world with the coming of ChatGPT?
What is ChatGPT?
ChatGPT is a ChatBot developed by OpenAI according to Artificial Intelligence and Machine Learning. Let’s take a closer look at it.
A ChatBot is a program that is intended to talk to a human being, attempting to be as realistic as possible.
Being more realistic means attempting to make its conversations as similar as possible to those of a human being, so that the difference is not even perceived.
This technology was definitely not invented today; it has been around for years and persists to make better. To think that the 1st one was made back in 1994.
Even virtual assistants such as Google Home and Alexa, which are present in every home now, are ChatBots. They are in reality meant to communicate with humans.
So why is this ChatGPT being talked about so much?
The technology developed by OpenAI leverages Machine Learning in a way never seen before. What’s more, it is free and this is why economical for everyone. You can try it as well by clicking here.
Machine Learning consists, as the name implies, of an Artificial Intelligence system that allows the machine to have a brain, similar to that of humans.
The machine will be able to learn knowledge over time, just like us, and won’t be remain anchored to the information given to it once it is created. Scary, but likewise incredible.
Consequently, such software will be able, having access to any information, to answer any question you have. It will do so by formulating a precise and appropriate answer.
Let’s look at an example.
It does more great with more specific questions, such as this one:
What can happen to the financial world
Technological evolution is always good, but what changes will it bring?
With the birth of the car, horses were abandoned. So what will be the following horses?
It is not only about what is ChatGPT today but about all the Artificial Intelligences that will be created in the coming years. We cannot know what they will be able to do.
We certainly would not be able to tell what was produced by an Artificial Intelligence (AI) and what was produced by a human.
We cannot be sure that a fund manager whether in stocks or digital currencies would reach give better advice than a simple ChatBot.
If such a Bot were made just to give financial advice it may be a viable solution seeing as all the information it has at its disposal.
Similarly, with the absolute coldness of a machine, following all its instructions would be even more beneficial. We will definitely see big changes from this point of view.
In the end, each of us is interested in using the method that can generate the greatest gain, and if Artificial Intelligences will be the ones to enable this, they will undoubtedly spread in a short time.
Additionally, an important factor to consider is the speed with which these technologies can evolve and change.
They evolve much quicker than any other because they are a digital product. So it may not be long before we see them applied everywhere.
Just think that already numerous corporations are implementing them in their tools.
What can happen to crypto
Future of the crypto and future of the Artificial Intelligence could become very much in sync.
Blockchain and Artificial Intelligence (AI) are two technologies that are still underdeveloped relative to their potential. Both represent a niche technology, realized and used by a few.
And they may work together in the future. As mentioned earlier, AIs will be able to create digital products of any kind. Products indistinguishable from those created by a human mind.
They can potentially even be able to create a digital currency for us, or administer an financing portfolio.
We cannot expect to live in a world where one cannot be stands out from the other. The blockchain tech, as a result of its immutable and open structure, can verify the provenance and path of every digital object. As we have already seen with NFTs.
The use of Non-Fungible Token (NFTs) as digital art is only the tip of the iceberg of its applications.
If we use Non-Fungible Token (NFT) (Non-Fungible Token) technology to distinguish and recognize every digital object, the previous challenge is solved. We would always know what comes from a bot and what comes from us.
All of you at this time cannot be sure that I wrote the article: an actual individual who typed all these words on a keyboard. In reality, I reveal to you that all the images in this post were made by an Artificial Intelligence, developed by OpenAI as well. It is was known DALL-E.
All the technologies that will lead to greater digitization, like ChatGPT for that matter, will attract an advantage to blockchain tech. Precisely because it intends to make the digital world a more safe place. And digital currencies as a result will benefit.
We are moving toward a world where Finance and IT will be closer and closer. And digital currencies will definitely take from both sides. This is exactly what I talk about on my website.
In reality this is what ChatGPT writes:
“Both Artificial Intelligence (AI) and digital currencies have been used to automate financial processes. Artificial Intelligence (AI) can help predict digital currency prices, while digital currencies themselves can offer greater security and transparency in financial transactions.
In the future, we are likely to see increasingly integration betwixt Artificial Intelligence (AI) and digital currencies, with Artificial Intelligence (AI) being used to automate digital currency trading processes and digital currencies being used as a means of payment to buy goods and services provided by Artificial Intelligence (AI) systems.”
Trading bots so far have not been very relevant, as they are still inferior to an experienced trader. On the other hand, when they reach such power that they can accomplish a certain consistent result over time, the whole market will change.
What will happen we cannot know precisely. What is certain is the fact that digital currencies and Artificial Intelligence will get along well.
o provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.