Artificial Intelligence Might Help Eradicate Fake Cryptocurrency NewsBy Oct 20, 2019 2 Min Read
You may have heard about deepfakes, procedures that utilize machine learning in the generation of fake videos and images. As a result, they can be manipulated in such a way that anyone can seem to say anything.
You might, however, not be aware that similar technological advancements are being used in written text. This has proven detrimental because the production of wholly fabricated written pieces, such as fake quotes, fake cryptocurrency news, and propaganda, has become inevitable.
Deepfakes may jeopardize the future because they might make fake news to blend seamlessly into our daily lives. As a result, people’s actions and viewpoints might be substantially influenced, especially in the crypto space.
Nevertheless, artificial intelligence (AI) can be instrumental in averting this crisis by fighting off fake cryptocurrency news and propaganda.
AI’s proficiency in tackling fake cryptocurrency news
Differentiating real and fake things may prove cumbersome, especially for the untrained eyes. Moreover, we exist in a world where people often believe whatever they read. As a result, fake news may have dire consequences of distorting people’s mindsets.
Imagine how fake crypto news can cause panic selling to the extent that the entire market is affected or how an imposter can pretend to be the anonymous Satoshi Nakamoto, Bitcoin’s developer.
In the past, fake news has affected the price action of Bitcoin and other cryptocurrencies. As a result, new investors have been convinced to take the wrong action making failure unavoidable.
AI has started being used to address this challenge. For instance, the MIT-IBM Watson AI Lab and Harvard NLP recently availed a tool called the “Giant Language model Test Room’ or GLTR. Expressly, it utilizes forensic capabilities in detecting automatically generated text.
Conversely, the Allen Institute for Artificial Intelligence released a similar tool that was able to distinguish fake news with an accuracy of more than 92%.
AI has proven to be instrumental in the crypto space as it seeks to eliminate fake news, and this is laudable.
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