Can You Trust AI and Trading Bots?
In an exclusive interview with crypto.news, Laurence Moroney, AI Lead at Google, discusses the intersection of AI and web3 and the trustworthiness of AI-powered tools like ChatGPT and trading bots. The increased accessibility of AI has led to a rise in misinformation, as tools like ChatGPT can generate misleading content. However, experts believe that blockchain technology can address this issue by providing a secure and verified identity system.
Moroney emphasizes the potential synergy between web3 and AI, stating that web3 enables AI3, which opens up huge possibilities. He also shares his journey with Bitcoin and cryptocurrencies, expressing his positive outlook on crypto despite the negative reputation caused by scams and NFT shilling.
When it comes to practical applications like trading bots and ChatGPT for investment advice, Moroney advises caution. He explains that these models are based on patterns learned from a mix of good, bad, and fictional advice. Even if trained exclusively on reliable data from reputable exchanges, these models cannot predict the future accurately. Additionally, the simultaneous use of these models by a large number of users can affect their verifiability and accuracy.
Moroney believes that AI will not replace human financial advisors but rather make them more efficient by assisting in data analysis and extraction of valuable insights. He also acknowledges challenges such as centralized trading data and computing power but suggests that decentralization of models through smaller distributed models working together could be a feasible solution.
Regarding concerns about AI surpassing human intelligence and posing a threat to humanity, Moroney takes a different perspective. He sees AI models as tools used by humans and believes that human behavior is a bigger danger than AI itself.
In conclusion, while AI and trading bots offer convenience and potential benefits in the crypto space, it’s important to approach them with caution and not solely rely on their recommendations.
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