ChatGPT Fails; How To Avoid Them!
OpenAI’s latest top-notch development ChatGPT, an Artificial Intelligence tool, has eventuated the war on Artificial Intelligence. However, its capacity to transform the future and economies across the globe is certainly bringing forth a typhoon in this dynamic world.
After clearing the MBA exam devised by a Wharton professor from the University of Pennsylvania, the AI chatbot has become among the world’s most enticing topics. Moreover, established a spellbinding benchmark spawning a debate among intellectuals across the globe.
Additionally, the complexity of AI algorithms and programming is so great that it is beyond a layman’s comprehension. These countless technical layers enable us to ask the tool to correct our code, tell us tales, or explain difficult concepts in numerous use cases. However, does ChatGPT, the AI chatbot, function similarly while analyzing the cryptocurrency market and enabling investment decisions?
Let’s consider the scenario wherein the seemingly game-changing AI chatbot fails to answer crucial investment-related questions!
When I Asked Chatgpt About Bitcoin Price Prediction:
With this, we can confidently state that ChatGPT gives answers based on the stiff fundamentals and investment-related factors divulged by the economists and investment advisors. For instance, the AI chatbot was very careful while mentioning, “several factors can influence cryptocurrencies.”
It does assert factors like “global economic conditions, regulatory changes, technological progress and advancements, and investors’ sentiment towards an asset class.” Many people consider Bitcoin a safer crypto asset due to its highest market capitalization, the first cryptocurrency that led to the introduction of blockchain technology.
The shortcomings of the AI tool are pretty obvious, as it doesn’t appear to include the most recent information on each project due to the lack of a dataset after 2021. This is a significant weakness in an extremely volatile market even a single news break can lead to a venture’s success or failure in minutes.
Moreover, even if ChatGPT manages to collect up-to-the-date information, it is almost impossible for the AI tool to study an asset class which moves every second!
When I Asked Chatgpt “ Cryptos To Buy:”
The list of cryptos that ChatGPT suggests purchasing is quite intriguing. When I asked it to briefly describe its process, I was startled to learn that the tool weighs its judgments using qualitative and quantitative data.
Interestingly, ChatGPT’s first method of recommendation was quantitative chart analysis, a technique widely favoured by crypto enthusiasts:
“The top cryptocurrencies with the biggest market capitalizations—generally regarded as the most well-established and commonly used cryptocurrencies on the market—were the ones I chose. I then took a look at how they had performed in the past, looking at things like price trends, trading volume, and market share to see which cryptocurrencies had shown a lot of promise for long-term growth.”
Moreover, a thought-provoking thing we noticed while evaluating ChatGPT when listing the cryptocurrencies to buy was how meticulously the AI chatbot was probing the statements after each crypto. If you discern closely, you will soon conclude that the AI tool was merely introducing every cryptocurrency. Rather, elucidating the quantitative metrics. Hence, this markedly depicts the limited capacity of OpenAI’s ChatGPT to predict profitable investments!
When I Asked Chatgpt About The Future Of Cryptocurrencies:
Undoubtedly, ChatGPT has a substantial collection of cryptocurrency-related data. Additionally, it can choose from this collection of facts to offer some perceptive commentary on particular initiatives. Therefore, we decided to listen to the AI’s forecasts about the future of major cryptocurrencies such as ETH and ADA coins before logging out to make space for other enquiring users.
The model presupposes the crypto market will have a favorable outlook in 2023. It foresees an overall favourable trajectory for the sector, mainly due to institutions’ growing use of cryptocurrency and blockchain technology. It states;
“We have seen more and more companies and financial institutions embrace cryptocurrencies as a legitimate asset class, and this trend is expected to continue.”
How Can A Novice Crypto Investor Avoid These:
The most top-notch innovation from OpenAI, ChatGPT, offers much to be excited about. Nonetheless, specific significant issues are worth comprehending beyond their immediate usefulness.
OpenAI acknowledges that ChatGPT can provide inaccurate and biased results in addition to having the capacity to blend fact with fiction. It’s challenging to foresee what further issues will emerge with a technology that’s so fresh. But until then, use caution about what you decide to believe.