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.
Updated Sep 14, 2021 at 9:44 a.m. UTC
!["Unlike many other markets, cryptocurrencies trade 24/7, thereby requiring traders to make decisions at all times throughout the day," Capital One wrote in its filing. (Shutterstock)](https://www.coindesk.com/resizer/aaiEdBjcolR6PtA1l5J1okWbhlE=/567x382/filters:quality(80):format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/VE4J5BDDPJFPLLMMSGTLR5W4CY.jpg)
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.