A recent study by researchers at the Blockchain Research Lab in Hamburg, Germany has shown that the launch of OpenAI’s ChatGPT marks an ongoing tide in the field of crypto-assets related to intelligence. artificial intelligence (AI).
ChatGPT was launched in November 2022 and quickly became one of the fastest growing web platforms in history. In just five days, it surpassed the 1 million daily user mark and in January 2023, reached 100 million monthly users. Currently, there is no official word on the app’s monthly user count as of June 2023, as OpenAI has not revealed any official user statistics yet. However, some reports suggest that this number could be as high as 1 billion users.
The popularity of this application has impacted every aspect of artificial intelligence, and cryptocurrencies are no exception. According to the researchers, the launch of ChatGPT has made a profound impact on the field of cryptocurrency and AI.
In this study, 10.7% and 35.5% represent a one- and two-month price increase, respectively, while the limited increase is 15.6% and 41.3%, respectively.
The study cited media and marketing hype as well as public sentiment as value-adding factors. The study concluded that “investors view crypto assets related to artificial intelligence as having the potential to acquire high value after their launch”.
According to the study, these factors may have contributed to institutional investors shifting capital to larger artificial intelligence technology projects. The researchers suggest that this shift could lead to retail investors pursuing and investing in cryptocurrencies related to the artificial intelligence space, both directly and indirectly.
The study also hypothesized that ChatGPT’s ability as an educational tool could “boost the contagion effect in the cryptocurrency market by equipping retail investors with the ability to filter information.” technical and complex, thereby facilitating smarter investment decisions”.
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