Capital One Files Patent for AI That Would Slice, Dice Social Media to Find Crypto Trading Picks
“It would be impossible for human traders to track” crypto's 24/7 informational onslaught on their own, Capital One said.
Aug 17, 2020 at 8:27 p.m. UTCUpdated Aug 19, 2021 at 3:45 a.m. UTC
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Capital One has moved to patent an artificial intelligence platform capable of turning the internet’s 24/7 cryptocurrency informational overload into actionable trading recommendations.
- Capital One’s “credibility analysis engine” would sort through and analyze price speculations from Telegram, Twitter and Reddit crypto influencers; hacking news; regulatory headlines; YouTube videos; protocol blog posts and more, according to the Aug. 13 patent application.
- This AI-backed engine would then weigh these signals against historical trends and source track-records to generate a “market trend prediction” for the cryptocurrencies, the filing said.
- The result: a “personalized trading decision” for cryptocurrencies that users could opt to execute on the platform, according to the application.
- “It would be impossible for human traders to track,” digest, decipher and trade on the entire breadth of cryptocurrencies intelligence alone, Capital One said in the application.
- Capital One did not immediately respond to CoinDesk questions on what it plans to do with its AI credibility engine or if the platform is already in use.
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