- The crypto exchange OKX has unveiled a new integration using cutting-edge AI algorithms to enable users to watch real-time market volatility.
- Italy’s authority for data protection has briefly blocked the artificial intelligence chatbot ChatGPT.
The renowned artificial intelligence (AI) chatbot ChatGPT-4’s most recent update has made the technology a hot topic inside and outside the cryptocurrency industry. Although there are differing views on the technology, businesses keep incorporating AI to improve their customer experience.
On March 31, the Web3 technology firm OKX, a cryptocurrency exchange, announced that it would introduce a new integration from EndoTech.io that uses AI algorithms to capture cryptocurrency market volatility.
In an attempt to perform real-time analyses of data and trading opportunities, the algorithms combine machine learning with “other advanced techniques.” Understanding market volatility is necessary for profitable trading in the cryptocurrency sector, according to Dmitry Gooshchin, chief operating officer of EndoTech.io.
On March 30, OKX joined the AI bandwagon by publishing an AI-generated sonnet from ChatGPT-4 about the business’s wallet. The company only recently disclosed its intentions to expand to Australia while beginning to wind down its previous operations in Canada, so it hasn’t been long since they were made public.
In cryptocurrency, AI is discovering applications beyond detecting in-the-moment market volatility. Additionally, it’s used to monitor blockchain transactions, implement intelligent trading robots, and more. Nowadays, it’s used in daily living for things like social media, customer service needs, and personal assistant-like tasks.
While some view the use of AI technology in contexts like the metaverse more favorably than others, a letter recently published by 2,600 researchers and fintech industry executives called for a halt to AI development.
The main worry the group of industry experts expressed was that, among other things, the human-competitive intellect might present significant threats to the community and humanity.
The latest development by OKX comes amid Italy’s authority for data protection briefly blocking the artificial intelligence chatbot ChatGPT. Italian authorities have also launched an inquiry into possible violations of data privacy laws. The Italian data authority also claimed that users are not given enough information about the data that OpenAI collects.
The agency also noted that there may be inaccuracy in the processing of personal data after noting that the information provided by the AI chatbot doesn’t always correspond to actual data.
In addition, the Italian data watchdog called attention to a possible violation of ChatGPT’s data security policies. Even though ChatGPT restricts users to those over the age of 13, the agency claims no filter within the program confirms a user’s age. This implies that minors might be subjected to inappropriate information for their developing brains.