Once again, banks are getting involved in the crypto market. This time, in a way that seems to mirror stock trading.
The bank in question: Capital One. They are now working on software that can generate crypto trading advisement. It’s more than that though—it’s an AI that’s managing an intense task, and by doing so opens many potential similar technologies, should it work as advertised.
This is because the software is made to scour any videos, articles, news updates, etc. coming out around the internet that pertains to crypto. If something is reported, somewhere, that the software interprets as likely to affect the price of a cryptocurrency, it may advise its user.
This is similar, somewhat, to what’s called an EA or “expert advisor.” An automation software used for stock trading. And that alone, that being made for crypto, is significant, especially with a major bank backing the creation of it.
But also, it’s relevant as a technology. Software that can accurately gauge the content of that many videos and articles is impressive. Doing this rapidly, constantly, and without a human reviewing them is no small feat. It’s a technology that can only become more applicable as the media world ever expands. It may be used for crypto now—but like a lot of inventions for the currency, it’s likely to bleed into other aspects of the world.