“Predict cryptocurrency by AI and build a trading ecosystem” by CEO of AIPE
Constructing ‘AI prediction ecosystem’ of price prediction platform, trading bot, and exchange
Naver Cloud Partner has 35 AI specialized computers.
[Seoul Economic Decenter] The AI trading stock bot “Kensho” appeared on Wall Street in 2014, analyzing financial information to be made by a stock trader who has earned several hundred million won in just two or three minutes. The use of AI in the financial sector is now beyond simple analysis, threatening Goldman Sachs analysts’ position.
Blockchain, one of the core technologies that led the era of the fourth industrial revolution, created a new asset called cryptocurrency. There is also an increasing number of investors and traders who are professionally investing in the new asset, Bitcoin (BTC), which boasts a daily trading volume of any stock market. Kensho’s threat works only until 3pm when the stock market closes. However, the cryptocurrency market with 36 trillion won of a daily trading volume and 160 trillion won of a total market capitalization keeps working on a 24/7 basis.
“We would like people to spend more time in other meaningful things by putting AI into their most time-consuming activity, ‘money making,’” said Dan Sun, CEO of AIPE. He added that “As human beings were able to develop their life by using tools, we would like to provide a tool called AI and make people’s trading more comfortable and efficient. “
AIPE made a platform to connect AI and cryptocurrency investors. Currently, AIPE’s platform 3PIKS is in beta service. At 3PIKS, users will be able to predict cryptocurrency price and receive a token as a reward. AIBitBip, a cryptocurrency trading signal service, and AI trading bot service which uses API for exchanges will be launched in April.
Providing AI services to predict cryptocurrency prices was not as easy as making AI of other financial services. Dan said, “The primary use of AI was focused mainly on video, image, and voice recognition, but price prediction service was a new challenge. As it is directly related to assets, it is definitely not easy to enter into this field.”
The lack of information was one of the obstacles. There was not enough information to build an AI model. Since Bitcoin has no book value and it could not be evaluated casually. At the same time, due to its short history of trading, the data accumulated was not long enough. Even with all the price fluctuation data since the beginning of trading Bitcoin, it could be exceptional data like the past 2017 and 2018 when the cryptocurrency market was overheating. For this reason, AIPE predicts cryptocurrency prices by using the market prices of less than one year, the overall market trends, news, and SNS data.
“If an overfit of the data occurs, there will be an inappropriate pattern,” said Dan Sun. He added that “If AI overproduces data, which is unnecessary to predict the price, it will extract an inappropriate pattern. We are currently studying to find an appropriate pattern by designing meaning data as a layer with the most appropriate algorithm.”
Building an AI model requires a lot of storages and computing powers. AIPE has 35 AI specialized computers, and the GPU used to study it is also quite large. That’s why many blockchain start-ups could not produce the appropriate AI price prediction. AIPE was able to use AI specialized computers by collaborating with Naver Cloud and solved the computing power problem.
‘AI Prediction Ecosystem’ of AIPE
AIPE’s ‘AI Prediction Ecosystem’ / Source = AIPE
AIPE intends to build a cryptocurrency trading ecosystem platform ‘AIPE’ (AI PredictionEcosystem) by adding 3PIKS, AIBitBip, and trading bots, which are AI prediction services for cryptocurrency price. Affiliated exchanges will use APIs to activate trading bots, and will improve AI’s efficiency based on data and learning from 3PIKS and AIBitBip users.
Dan Sun (CEO of AIPE) said, “Although the price of the cryptocurrency has risen so much until last year, the market is now looking for stability.” He added that “In the long run, cryptocurrency will have value as a type of assets rather than value as money.”
Original press: https://news.naver.com/main/read.nhn?mode=LSD&mid=sec&oid=011&aid=0003530127&sid1=001
