ChatGPT: Can it Pave the Way for a Crypto ETF Creation?
Texas-based ChatGPT, an artificial intelligence platform, rose to prominence for its ability to respond to queries quickly and accurately. The ability of the AI to construct complete sentences out of facts has astounded people, and this particular application stands out from the rest.
The number of users of ChatGPT, a large language model created by OpenAI, has surpassed 1 million in a span of five days. This accomplishment serves as proof of the rising popularity of conversational AI and the vital role it is playing in transforming human communication.
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Users have been utilizing automated trading tools for quite some time. But can ChatGPT have what it takes to become a successful cryptocurrency ETF? Let us find out.
Can AI create a perfect cryptocurrency ETF
AI-powered ETF AIEQ exceeded the market return by generating higher returns in 2023. However, a closer look at a longer time frame shows that it has underperformed the S&P 500.
One other factor is that asset allocation requires decision-making and a great deal of judgment. It is a fact that ChatGPT is able to respond to the questions on the basis of the information that has been provided to it. Even though AI can make good predictions, it is not guaranteed that they will be accurate.
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Another key factor is that AI bots, including ChatGPT, don’t have the rational thinking ability to identify bad players in the market. This is a crucial downfall that makes it fall behind. Even though ChatGPT is making heads turn in other industries, AI has a long way to go before it can create or develop an ETF.
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