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 <p>Investors in the United States are willing to follow AI advice when making financial decisions. A recent survey conducted by the Certified Financial Planner Board of Standards pointed out that 31% of investors were ready to follow what AI advises without cross-checking it. Specifically, the report’s findings noted,</p> 
 <p><strong>“1 in 3 investors report feeling comfortable implementing financial planning advice from a generative AI-powered tool without verifying it with another source.”</strong></p> 
 <p>The comfort level increased from 31% to 52% after AI prompts were verified by financial advisors. On both fronts, the trust that users had with respect to AI investment advice was greater than the advice received from social media.</p> 
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   <img decoding="async" src="https://cdn.thebittimes.com/images/2023/08/25/b5301f9a313bbf38c40089ca6fb81e1d.webp" alt="" class="wp-image-108765" style="width: 100%;height:220px" width="418" height="220" srcset="https://cdn.thebittimes.com/images/2023/08/25/b5301f9a313bbf38c40089ca6fb81e1d.webp 587w, https://cdn.thebittimes.com/images/2023/08/25/b5301f9a313bbf38c40089ca6fb81e1d.webp 300w, https://cdn.thebittimes.com/images/2023/08/25/b5301f9a313bbf38c40089ca6fb81e1d.webp 380w, https://cdn.thebittimes.com/images/2023/08/25/b5301f9a313bbf38c40089ca6fb81e1d.webp 550w" sizes="(max-width: 418px) 100vw, 418px"> 
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     Source: CFP Board 
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 <p><strong>Also Read: Banks Raise Nvidia Target Upto $1100: AI Crypto, Mining Stocks Rally</strong></p> 
 <h3 class="wp-block-heading" id="h-ai-and-crypto">AI and Crypto</h3> 
 <p>The CFP Board’s survey and its results were pertinent to the broader investment spectrum. Nevertheless, when it comes to crypto as well, AI has already started influencing traders and investors.</p> 
 <p>Investment data analytics firm Chain of Demand recently built a tool to analyze Bitcoin price fluctuations that leverages ChatGPT’s technology. Parallelly, crypto exchange ByBit also integrated Open AI’s chatbot to help traders by automating market data analysis. Even Crypto.com recently unveiled its AI-powered initiative to help users familiarize themselves with and learn about the crypto industry.</p> 
 <p>Another exchange, OKX is guiding users about the 9 best <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> trading <a rel="noopener noreferrer nofollow" title="bots" href="https://thebittimes.com/tag/bots.html">bots</a> that they can use. In a recently published guide, it expl<a rel="noopener noreferrer nofollow" title="AI" href="https://thebittimes.com/tag/ai.html">AI</a>ned to users about dollar cost averaging <a rel="noopener noreferrer nofollow" title="bots" href="https://thebittimes.com/tag/bots.html">bots</a>, hodl <a rel="noopener noreferrer nofollow" title="bots" href="https://thebittimes.com/tag/bots.html">bots</a>, and options <a rel="noopener noreferrer nofollow" title="bots" href="https://thebittimes.com/tag/bots.html">bots</a>. Shedding light on the legality, OKX noted,</p> 
 <p>”<strong>Yes, AI trading bots are legal to use. They are considered trading tools. Most of the top, highly-reputable bots do work, and quite well.</strong>”</p> 
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 <p>Timing plays a pivotal role when it comes to crypto trading and investing. However, identifying tops, bottoms, accumulation, and selling zones requires some level of expertise and familiarity with the market dynamics. Daisy, a crypto education influencer, more commonly known as&nbsp;‘Crypto Empress,’ recently contended that “a lot of us have a problem with knowing when to sell.” The educator works with two AI trading projects, ‘Otto Bought’ and&nbsp;‘DeFi Trading Club.’ These platforms assist in technical, and fundamental analyses. She said,</p> 
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 <p><strong>“This is going to change how people take profits. Now people don’t have to be stuck at computers. <a rel="noopener noreferrer nofollow" title="AI" href="https://thebittimes.com/tag/ai.html">AI</a> <a rel="noopener noreferrer nofollow" title="bots" href="https://thebittimes.com/tag/bots.html">bots</a> are going to do it for you. All you have to do is cash out your money and do real-life things.”&nbsp;</strong></p> 
 <p>Sheraz Ahmed, Managing Partner at blockchain consultancy Storm was on the same page. He recently asserted that if traders do not use AI, and instead do everything manually, they will be ”left behind.” </p> 
 <p><strong>Also Read: Crypto SIM Swap Scams Fetch Hackers $13 Million in 4 Months</strong></p> 
 <h3 class="wp-block-heading" id="h-be-on-guard-though">Be On Guard, Though</h3> 
 <p>Taking nothing away from AI and revolutionary abilities, market participants should also bear in mind that sketchy ads like ”This Crypto AI Trading Bot makes $100 A Day” keep doing the rounds on social media. Thus, it is quite crucial to remain vigilant and not fall for such scams. In fact, OKX pointed out that some bots are either ”fake or inefficient’ as well. Warning investors, Christopher Inks, Founder of trading group TexasWest Capital said,</p> 
 <p><strong>“Everybody and their grandmother swears that their bot has a 90% win-rate strategy… They don’t.”</strong></p> 
 <p>Thus, even with the advent of AI, the golden rule of doing your own research, or DYOR, should not take a backseat. </p> 
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    <p lang="en" dir="ltr">This Crypto Ai Trading Bot makes $100 A Day!<br>👇https://t.co/rlyLIIIxUb pic.twitter.com/sP866WJmGC</p>— Mister Crypto (@misterrcrypto) June 13, 2023 
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 <p><strong>Also Read: Canada: Coinbase is ‘Closely’ Working With Tier 1 Banks to Back Crypto</strong></p> 
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<div class="cs-entry__tags"> 
 <ul> 
  <li>AI</li> 
  <li>bots</li> 
  <li>crypto</li> 
  <li>Investing</li> 
 </ul> 
</div>

Crypto: 31% Investors Willing to Follow AI Advice Without Verifying

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