By
Bhushan Akolkar
May 7th, 2024
Polkadot has launched a free AI chatbot called Polkabot, to provide users and the general public with information about the DOT ecosystem.
The Polkadot network protocol has unveiled a new artificial intelligence (AI) tool it calls PolkaBot.AI. The new tool is Polkadot’s attempt to offer users an AI chatbot that can rival popular options like OpenAI’s ChatGPT and Google’s Bard.
An X post from Polkadot describes Polkabot.ai as AI-powered education for the DOT ecosystem. The AI chatbot uses models from NeuroWebAI and OriginTrail, and helps users create a better understanding and awareness of the Polkadot ecosystem. All interested users can now access the Polkabot.ai website for free.
Polkabot Joins List of AI Chatbots
The Polkabot tool is another one of a growing number of AI-powered chatbots. Last November, Samsung Electronics launched an AI tool called Samsung Gauss. The AI tool combines three components: Samsung Gauss Language, Samsung Gauss Code, and Samsung Gauss Image. While Language is a text-generative component designed to aid work efficiency, Code is a tool that assists software developers with coding. Lastly, Samsung Gauss Image helps users generate and edit images and convert low-quality photos to high-resolution images. Not long after Samsung announced Gauss, Amazon launched its own AI chatbot dubbed Amazon Q.
Elon Musk’s xAI also launched the Grok AI chatbot, while UberEats announced plans to integrate an AI assistant with its app. UberEats’ chatbot is designed to help users find restaurant deals and reorder their favorite meals.
Polkadot’s DOT token is currently trading at $7.71, after rising more than 7% in the last seven days. Despite the relatively healthy trade and the network’s long-term plans, including Polkabot, DOT’s charts show some bearish signs. According to an X post from crypto analyst Tony Bitcoin, a bearish ascending wedge pattern has appeared. The analyst says that the price of DOT will fall if the ascending wedge is confirmed and will only cancel out if the price reaches the top of the wedge. While the analyst did not specify a timeline, it is interesting to note that DOT has lost nearly 3% over the last hour.
Poladot Token Trajectory
Polkadot started the year quite shaky, initially trading around $8.2 and then falling. Much of the asset’s loss was from continuous liquidations as investors tried to capitalize on gains they had made from the previous quarter. However, the approval of spot Bitcoin (BTC) exchange-traded funds (ETFs) by the United States Securities and Exchange Commission (SEC) was bullish for the entire sector, with several tokens rising. DOT also enjoyed the activity, rising to $9.35. However, the flurry of excitement did not last for long as DOT eventually ended January around $6.
Polkadot’s involvements in the NFT space are enough reason to be bullish on the coin. Last month, a partnership was confirmed between Polkadot Assurance Legion and Code4rena to enhance traditional security audit processes. Also, the network minted an average of 4,930 NFTs per minute on February 6, more than faster platforms like Polygon and Solana.
Polkadot could leverage these achievements and attract more developers and investors, consequently taking the price over $8. However, if the market’s problems are stronger than DOT’s resilience, the price could fall back to $4.