MarginFi Unveils Tailored ChatGPT Model for Cryptocurrency
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MarginFi Unveils Tailored ChatGPT Model for Cryptocurrency

As opposed to other chatbots that can address general tasks, Omni is trained to respond to specific requests.
Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our website policy prior to making financial decisions.

The recent mania around generative artificial intelligence (AI) is expanding into crypto. Today, decentralized finance (DeFi) lending protocol marginFi introduced a ChatGPT-like chatbot called Omni, trained to respond to crypto-related prompts and integrate with crypto wallets.

Omni Can Offer Real-Time Data and Take On-Chain Actions

Decentralized margin protocol MarginFi announced on Tuesday the launch of a crypto AI chatbot, “Omni.” According to MarginFi, Omni was developed to help users better understand and interact with Web3 by providing answers to crypto-related questions and even taking on-chain actions on behalf of the users via simple text prompts.

“Omni can answer questions about specific protocols or general crypto topics. Whether you’re curious about marginFi, the Bitcoin whitepaper, or just trying to better understand web3, Omni can make that journey easier.”

– said marginFi in the announcement on Medium.

According to marginFi, Omni is a “one-stop-shop for Web3 knowledge.” The chatbot reportedly has deep knowledge about the Solana ecosystem and has received training on full documentation for several DeFi projects, including Kamino, Meteora, Jupiter, Mango Markets, Tensor, and more.

In addition, through Pyth Network, Omni can provide users with real-time crypto prices and rates, and can even engage in on-chain activities per users’ requests. For example, the bot can withdraw crypto funds on behalf of the user.

MarginFi says Omni stands out from other chatbots because it can address specific tasks.

“As AI develops, specialized versions of ChatGPT will pop up. Crypto is an incredibly strong use case for this. Crypto is HARD for people to deal with, but much much easier for AI machines.”

– marginFi wrote in the Twitter thread.

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The AI Chatbot Craze

Omni’s launch comes amid the latest AI boom triggered by the introduction of ChatGPT – a large language model developed by AI research laboratory OpenAI. The chatbot uses GPT architecture to generate human-like responses to natural language prompts.

ChatGPT’s unprecedented growth has left many in the tech and crypto industries scrambling to develop their own AI chatbots and solutions, including Microsoft and China-based Baidu, among others. Microsoft’s search engine Bing has become the most serious threat to Google’s dominance in the search market after recently implementing the same technology ChatGPT uses.

Meanwhile, it remains to be seen how useful such technology can become for crypto and DeFi projects. Earlier this month, AI-focused layer 2 CryptoGPT was valued at $250 million after raising $10 million in new funding.

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Do you think crypto will have strong use cases for generative AI in the future? Let us know in the comments below.