Can Artificial Intelligence Help People Understand Bitcoin Better?
These days, the topic of artificial intelligence is one of the most trending topics among technology lovers. Many people in different professions use artificial intelligence tools both for research and to make their work easier. Bitcoin is no exception to this rule. The Erzdigital team also published a note earlier and mentioned the questions it asked ChatGPT about Bitcoin and the bot’s answers.
Read more: The definition of Bitcoin from the point of view of ChatGPT, the controversial artificial intelligence these days
Meanwhile, it is still not possible to say with certainty whether the use of artificial intelligence to research various phenomena is correct or not. One of the authors of Bitcoin magazine website named Kroum Kroumov. a note has published on the topic of advantages and disadvantages of using artificial intelligence to research about Bitcoin. In this note, he has reviewed the advantages and limitations of using artificial intelligence when researching Bitcoin and shared his experiences with the reader. The text you are reading is the translation of the same note and from the same author.
Advantages of using artificial intelligence to research Bitcoin
Bitcoin has become like a rolling snowball that gets bigger every day with the release of new projects. We are also happy and excited about these innovations and the expansion of Bitcoin; But it is really hard to keep up with this speed of development and keep up with everything. Besides Bitcoin, other technology sectors are also very attractive; Especially the publication of the ChatGPT artificial intelligence language model, which has completely revolutionized research.
The possibility of Bitcoin being combined with artificial intelligence raises these questions: Is the information provided by artificial intelligence (AI) accurate? Are the sources of this information relevant? Can AI keep up with the speed of development of the Lightning Network?
In this article, I’ll explore the benefits and limitations of using AI to research Bitcoin, and I’ll share my experiences, emphasizing the pros and cons. Here’s what I’ve discovered:
Simplifying research with artificial intelligence
Artificial intelligence has changed the way we do research. This is an exciting event; Because it can give people a lot of information about Bitcoin. AI algorithms sift through masses of data and automatically identify the most useful information and present it to you in plain language. In this case, you no longer need to spend time searching for information sources, and your time and energy will be saved.
We all know how painful, time-consuming and confusing it is to scroll through various blogs and articles. I will never forget how quickly I had to learn about Bitcoin back then, and it was hard work. Why wasn’t there artificial intelligence so that I could simply ask it a few questions and it would summarize the important points for me?
AI can make it easier for us to understand general information about Bitcoin and write to us in any language. You can even ask it to explain more. This makes it easier for many people to understand Bitcoin. As Bitcoin becomes easier to understand, more people will use it.
Organization of information
Artificial intelligence can organize information in seconds. This is an important feature. With the massive amount of data out there about Bitcoin and the Lightning Network, only one tool can be helpful and useful that brings this information together. Now artificial intelligence has become my 24-hour assistant. The artificial intelligence is very smart and fast, and whatever I ask it, it answers immediately.
Artificial intelligence organizes and categorizes information so that you can find the information you want more easily. Meanwhile, it provides the information as the user wants. For example, we can ask artificial intelligence to extract points from a text, create a lesson plan for us, simplify the language of the text, translate it, explain a problem to us, and extract the highlights of an article for us.
Organizing and categorizing information is useful for researchers, investors, entrepreneurs, journalists, students and even those interested in understanding and learning different aspects of Bitcoin and the Lightning Network. For example, we can ask AI to give us a list of resources and prioritize them based on an importance index.
Limitations of artificial intelligence
Despite all the advantages, artificial intelligence also has limitations, some of the most significant of which are as follows:
Not updating artificial intelligence information
One of these limitations is that the information provided by artificial intelligence tools may be less accurate or valid than traditional research methods. The reason for the carelessness of the tools is that ChatGPT has data up to the end of 2021, and what has happened since this date to Bitcoin and the Lightning Network is not there; Especially the lightning network, which has developed significantly along with the rapid changes in technology and available tools.
Just take a look at the recently held Lightning Hackathons. In this case, you will understand very well that this limited time frame of artificial intelligence is one of the points to remember.
Considering events like hackathons, it must be said that the development of Bitcoin and the Lightning network is very fast. Even Bitcoin enthusiasts don’t have the opportunity to fully familiarize themselves with the innovations and new items about these two.
There are many developers working on Bitcoin all over the world and new sources of information are being created every moment. This rapid growth makes artificial intelligence systems unable to synchronize their information sources. This means that if someone is looking for new data, they cannot use these systems and must look elsewhere.
Lack of real-time data
Another problem with artificial intelligence is the lack of real-time data. At this stage, it is not possible to fully and comprehensively understand the network with artificial intelligence. Up-to-date and real-time data is essential for investors and entrepreneurs.
Outside of artificial intelligence models, there are tools and resources that provide live data for research. For example, there are platforms like Lightning Network Browser and Amboss to do live research on the Lightning Network with graphs and maps.
False information in artificial intelligence
From my experience working with AI, I have found that false information is fed into AI tools. This is a serious issue. At first, the content created with artificial intelligence may seem great; But if you look at it from an expert point of view, you will find gaps and gaps in the text in question. For this reason, we need humans to check the input information from artificial intelligence.
For example, when I asked ChatGPT about Lightning resources, it gave me a list; But when I googled, I couldn’t find some of the listed sources. For this reason, I thought that maybe some of these sources do not exist externally at all. We conclude that we still need humans and cannot completely trust artificial intelligence.
The future of artificial intelligence and Bitcoin
Overall, AI can help us understand and research Bitcoin by providing general information and expanding opportunities for learning and translating, explaining, and organizing information. However, its limitations such as few resources, lack of sufficient data on smaller projects, unverified information and inaccurate information sources are obstacles to its widespread use.
In general, it can be said that artificial intelligence is a promising technology; But maybe in the future it can be used to understand Bitcoin. The speed of development of Bitcoin is such that artificial intelligence cannot keep up with its movement and collect information, and it requires further development in this area. Therefore, I suggest that if you use it, you must use other sources to complete your information.