Bybit integrates ChatGPT into trading tools.

The cryptocurrency exchange Bybit is adding an artificial intelligence (AI) tool based on ChatGPT to its trading platform in order to automate the analysis of market data.

The new feature, called ToolsGPT, is an AI chatbot that users can use to request “technical analysis, backtested price data, and other essential metrics,” according to a press release from the company on Thursday. For example, Bybit traders will be able to use the tool to analyze future price trends based on past data and technical indicators.

ChatGPT is a chatbot developed by the startup OpenAI that uses natural language processing and was released in November 2022. The chatbot generated significant interest from users upon its release and sparked what some have called an “AI arms race.”

Crypto companies, like others in the tech industry, are trying to keep up with the AI trend by finding ways to incorporate artificial intelligence into their workflow.

“By integrating ChatGPT into Bybit Tools, we can provide users with more comprehensive information when making their decisions,” said Ben Zhou, CEO of Bybit in the statement.

Read more: What AI Governance Can Learn From Crypto’s Decentralization Ethos

Edited by Aoyon Ashraf.

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