Ethereum co-founder Vitalik Buterin conducted experiments to explore the potential of ChatGPT, a trading assistant powered by artificial intelligence. After some tests, Buterin found that while there are some limitations to ChatGPT, the AI-bot is still able to offer users access to software libraries that would help them get more accurate responses.
One of the features of ChatGPT is its application programming interfaces (APIs) that can be used to work out how travel time is related to the distance between two locations. Buterin was able to study more about this feature and how it could be used to inform a trading strategy. It even provided Buterin with assistance in writing a script that mined publicly-available knowledge from GeoLife platforms to calculate the distance by making use of Google Maps API.
ChatGPT’s artificial intelligence has the potential to be used by traders when creating various custom tools. For instance, a trader could be assisted by ChatGPT in authoring a script that matches their strategy on trading a specific asset. Or a tool like Satoshi, developed by FalconX, could be used to best advise users on basing their strategies on a specific market or portfolio state. The AI-bot can additionally produce a scatter plot of time-distance pairs.
At the same time, ChatGPT lacks the ability to account for complex market conditions, or calculate an optimal travel route that involves flights for a journey bigger than 500 km. For this, traders will have to make use of compilers like Solidity, which can convert the valid code of smart contracts into the language of the Ethereum Virtual Machine.
What is clear from this experiment is that AI tools can be of use to traders in shaving off a significant chunk of development time when creating custom tools. As he was testing the bot, Buterin pointed out that AI bots like ChatGPT can still produce wrong answers based on the phrasing of the user’s queries. He also cautioned about the possibility of AI hallucinations – when something not true is presented as a fact.
This highlights the need for traders to have some coding expertise, in order to be able to determine whether the results are accurate or not. In conclusion, Vitalik Buterin’s research suggests that while AI tools can be of assistance to traders, they still need to come up with creative solutions if they want to maximize their profit in an ever-changing market.
ChatGPT is an AI-powered trading assistant that was first developed by an AI research unit of Microsoft. The aim is to help traders save time by using automated solutions to generate trading strategies and evaluate market conditions. It has been praised by many traders who have found that it is able to quickly automate some of their trading and investing tasks.
Vitalik Buterin is a well-respected Canadian-Russian programmer and cryptocurrency scientist who co-founded Ethereum, the biggest open-source platform for developing decentralized applications. He is seen as one of the most influential figures in the blockchain and cryptocurrency industries and continues to be a major figure in the development of various protocols and projects related to Ethereum and the wider cryptocurrency sphere.
