This chapter has highlighted the role of AI in cryptocurrencies and their emerging economies. Starting with the key differentiation between fiat and cryptocurrencies, we have introduced you to various practices in the cryptocurrency market such as trading, prediction, arbitrage, and market making. We have not only introduced you to the basic concepts but also identified the key issues faced by traders in the industry. Finally, we have introduced some approaches to solving the problems using AI and aiming for better, more efficient, and higher-profit-making models using several AI techniques such as ARIMA, LSTM, and so on.
We hope this chapter enabled you to identify the key white spaces of applying AI techniques into the crypto markets by analyzing some of the common approaches practiced today. In the next chapter, we will understand the formal software development life cycle required to build and deploy such applications.
