30s Summary

Cryptocurrency exchange Woo X has partnered with Kaito to create a machine learning-powered search engine to measure crypto sentiment. The engine, “George AI”, allows Woo X users to emulate its trading strategies. To test effectiveness, Woo X has initiated weekly trading competitions between George AI and human traders. Kaito believes previous attempts at such strategies failed due to ‘background noise’ in data, a problem they claim to have solved through extensive indexing and AI.

Full Article

Woo X, a cryptocurrency exchange, has partnered with Kaito, a company run by ex-Citadel technicians. They have developed a machine learning powered search engine to gauge cryptocurrency sentiment across different platforms such as X and Discord. In a new feature, Woo X users can copy the trading strategies of a machine learning crypto sentiment program, referred to as “George AI”.

Why stop there? Woo X are pitting human traders against the AI in weekly copy trading competitions to see who comes out on top. It’s a traditional man versus machine standoff that’s reminiscent of famous battles like chess grandmaster Garry Kasparov’s clash with the computer Deep Blue. The company are already asking the question: are human traders becoming obsolete?

According to Kaito’s CEO, Yu Hu, no one has been able to deploy a strategy quantitatively before due to the amount of background noise in data. They believe they have solved this issue by indexing many information sources and using AI to understand sentiment and predict future trends on a tweet-by-tweet basis. Their aim is to democratise advanced AI and make it accessible to average traders.

We’ll have to wait and see how the weekly trading battles play out and if the AI or humans are more successful in their trading strategies. Seems like exciting times ahead for the trading platform and its users!