U.S.-based cryptocurrency exchange PayBito announced its plans to integrate ChatGPT, an artificial intelligence (AI) chatbot developed by research firm OpenAI, on Friday.

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Fast facts

  • ChatGPT is a text-based AI tool that can perform a wide range of language-related tasks with high accuracy.
  • PayBito hopes its AI integration can enhance crypto market data analysis, future trends predictions and identifying trading opportunities.
  • According to PayBito, it has incorporated the AI service on its platform for it to be used by beginners to help them understand the different aspects of crypto trading. 
  • ChatGPT has reported about 590 million visits in January from 100 million unique users, according to internet data firm Similarweb’s analysis. Analysts at investment bank UBS said the unprecedented growth rate makes it the fastest-growing consumer internet app ever. 
  • Several companies, such as Numerai, an AI-run hedge fund, and Ocean Protocol, a blockchain-based marketplace that sells tokenized data, are also exploring new AI and crypto integrations.

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