Latest news with #BrianPrince
Yahoo
25-04-2025
- Business
- Yahoo
3 Mistakes To Avoid When Using AI To Invest in Crypto
Thanks to the quick evolution of artificial intelligence (AI), many aspects of life are being streamlined — including investing. However, you should always double-check the work of robots, and never lose sight of your own critical thinking skills. While the technology can be extremely helpful when it comes to investing in crypto specifically, experts say there are some common pitfalls to avoid. Find Out: For You: 'AI excels in a variety of areas when it comes to crypto investing. It can analyze market sentiment faster and with greater accuracy than a human investor,' said Brian Prince, co-founder and CMO of XCoins and founder and CEO of He explained that AI can spot trends faster and apply them to real-time scenarios. For instance, it can be used in robo-advising, allowing you to take a hands-off approach to crypto investing. 'But there are some pitfalls to watch out for,' he added. Here are three mistakes to avoid when utilizing AI to invest in crypto. According to Prince, crypto investing, like other forms of investing, should be approached with a long-term view. Yet, because AI investment platforms make it easy to perform high-frequency trades, it can be easy to try to 'play the market,' he added. 'I prefer Warren Buffett's philosophical approach to investing — whether it's stocks or crypto. Never buy an investment for a minute that you wouldn't want to hold for 10 years,' he said, noting that it's important to keep an eye on long-term gains. 'Just because you can try and time the market and buy and sell frequently through AI, this may not be the best strategy, depending on your risk tolerance and financial situation,' Prince added. Prince also noted that while some short-term, higher-risk investments can help you grow your money faster, crypto is highly speculative and volatile. As such, never invest more than you can afford to lose, especially if you are looking for short-term gains by timing the market with the help of AI. Up Next: Vijay Marolia, founder and chief investment officer of Regal Point Capital Solutions, recommended not trusting AI for advice. Instead, he suggested using it for research, data entry and/or analysis. 'Don't forget to double-check anything that sounds crazy or unreasonable,' said Marolia. 'AI uses LLMs [large language models] that have the tendency to make up information — these are known as hallucinations within the world of AI.' John Patrick Mullin, CEO and co-founder of MANTRA Chain, echoed the sentiment, saying that while integrating AI into your investment strategy could prove helpful, 'AI is not a crystal ball.' 'Investors should first test out the theory,' said Mullin. 'Most times, what sets a clear distinction between wins and losses in crypto is proper research. Smart investors will leverage AI insights as a starting point for further research and due diligence before making any investments.' In turn, John Matze, co-founder of the social network Hedgehog, said that it's really important to approach trading and investing the old-fashioned way — that is, to do as much research as possible before making any financial decisions. 'AI platforms like ChatGPT and Gemini should be thought of as a tool to assist with your work, not necessarily something to rely on,' he added. According to Prince, AI can also make it tempting to neglect your investments. To avoid this pitfall, he said that you must regularly track your investments to gauge their performance and make adjustments as needed. Along the same lines, neglecting the help and assistance of human advisors is another habit to avoid. 'It's important to recognize when you may have a complex financial situation that requires professional guidance from a human,' he said. He added that crypto investing is especially fraught with ever-evolving tax ramifications that may require advice from experts. Caitlyn Moorhead contributed to the reporting for this article. More From GOBankingRates 6 Used Luxury SUVs That Are a Good Investment for Retirees 7 Tax Loopholes the Rich Use To Pay Less and Build More Wealth 7 Overpriced Grocery Items Frugal People Should Quit Buying in 2025 How Much Money Is Needed To Be Considered Middle Class in Every State? This article originally appeared on 3 Mistakes To Avoid When Using AI To Invest in Crypto
Yahoo
29-01-2025
- Politics
- Yahoo
Georgia lawmakers focus on regional budget goals
ATLANTA (WJBF) – With more than 200 lawmakers under the gold dome, Georgia state senators and representatives are prioritizing regional improvements in the state. On Thursday, Governor Brian Kemp will roll out his statewide detailed tort reform legislation plan to help small business owners. The state has a $14 billion dollar surplus so over the next 33 legislative days. Lawmakers will look at ways to help Augusta, Columbus, Savannah, Macon and rural parts of Georgia. For Augusta, there's a push to get more funds to help Hurricane Helene relief, locally approve the hotel motel tax and fund the state prison to get more money for prison employees. 'We are going to look at the Richmond County Correctional Institute that houses state inmates and see if we can up what the state provides,' said State Representative Brian Prince. 'Right now it's $25, but most other counties get more so we are going to see if we can raise that as well.' In Columbus, priorities include maternal mortality rates, and help Georgians live, learn and earn, and help the 12 percent of Georgians who are uninsured to have healthcare access. 'Maternal mortality we are at the bottom and as it relates to women of color. African American women have the greatest risk,' said State Representative Caroline Hugley. 'My son and daughter are in the child bearing age. I want them to be able to bring forth little girls that look like me safely.' In the city of Savannah, lawmakers want to mandate kindergarten as a required grade for all Georgia students, fund mental health care initiatives and affordable housing. 'I will be authoring legislation for our local school boards to be able to police within so many miles of a school,' said State Senator Derek Mallow. 'We know we have sworn police officers but cannot respond to an emergency if it is off campus. Taxpayers already pay for those so legislation 1-3 miles around campus is not going to hurt anybody.' The state capitol also invites local delegation to pitch their budget priorities from the local city council, school board, chamber of commerce to talk to lawmakers. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
