Quick take:
- Bybit has launched TradeGPT, an AI-powered trading assistant and education tool.
- Bybit users can access real-time market analysis and answers to their questions in multiple languages.
- TradeGPT is part of ToolsGPT, a tool that leverages ChatGPT and sophisticated market data from the Bybit platform.
Bybit has joined the generative AI bandwagon with an AI-powered education tool. The crypto exchange platform on Monday launched TradeGPT as part of its ToolsGPT offerings, enabling Bybit users to access real-time market analysis and get answers to their questions in multiple languages.
ToolsGPT leverages Bybit’s market data, trading analytics, and technical analysis tools in combination with ChatGPT’s AI model to provide mentorship and guidance on the rapidly expanding world of Web3.
According to Bybit, its AI-powered education tool supersedes what popular generative AI tools like ChatGPT offer for financial markets by leveraging real-time data.
“The normal ChatGPT can’t offer content based on the latest market trends and movements as it doesn’t have real-time data and was last updated in September 2021. However, ToolsGPT has access to Bybit’s market data, trading analytics, and technical analysis tools, combining the power of the AI model with the sophisticated data of Bybit’s platform,” the company wrote in a press release.
One of the more exciting features of TradeGPT is its ability to offer market strategies their chances of success, whilst also recommending the right products for various strategies presented.
According to Vivien Fang, head of financial products at Bybit, TradeGPT is specifically created for the “hyper-financialised world” to offer the financial education and mentorship that is needed.
“Essentially, we built the tool that we all wished we had when we began our careers in financial engineering and trading. We’re proud to offer this for free as part of our mission to become the world’s Crypto Ark,” added Fang.
But does someone own the trademark for TradeGPT?
Based on a USPTO trademark filed by Sampat, Naresh Vasantlal on May 26, 2023, it looks like Bybit could yet be forced to rebrand or part with some fee for intellectual property rights. That is if the TradeGPT trademark under serial number 98015207 is approved by the USPTO. Currently, the status says the application is still being processed as it awaits examination.
According to the filing, the TradeGPT patent relates to three primary use cases, including advertising and business, as well as, insurance and financial (financial affairs, monetary affairs, and real estate affairs), among others.
We reached out to Bybit for more clarification on TradeGPT but did not immediately receive a response.
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