Cryptocurrency exchanges are increasingly integrating artificial intelligence (AI) tools into their internal operations, aiming to enhance various departments and functions. In a conversation with Cointelegraph editor Zhiyuan Sun at the Ethereum Community Conference in Paris, Bitget managing director Gracy Chen discussed the exchange’s adoption of AI and how it has positively impacted their operations.
Chen emphasized that Bitget actively seeks feedback from its management team regarding the implementation and experimentation of AI tools across different departments. AI has become a significant focus within the technology industry in 2023, notably with the introduction of language learning models such as OpenAI’s ChatGPT chatbot. These tools have promised to revolutionize multiple industries by offering a wide range of use cases.
Bitget has successfully integrated AI tools into its translation team, where AI is utilized to handle translation services for multiple languages, as well as its customer service department. In collaboration with a third-party company, the exchange is currently developing a customizable, crypto-focused version of ChatGPT. This AI-powered bot aims to provide users with faster responses to queries, offering tailored information and trading data.
As previously reported, Bitget launched an AI-powered feature for its grid trading strategies, enabling users to automate transactions using trading algorithms. The bot simplifies the complexity of grid trading by requiring users to input their desired strategy and investment amount. It then generates various trading strategies based on the given parameters, utilizing the “buy low, sell high” principle.
Chen stated that AI applications are being experimented with in every department of the exchange. She also highlighted the potential benefits of zero-knowledge proof (ZK-proof) technology in enhancing cryptocurrency exchanges. ZK-proof technology provides privacy-enhancing features that safeguard user funds and data from mishandling.
According to Chen, ZK-proofs are particularly valuable for protecting users’ data. Bitget has been exploring the implementation of ZK-rollups to ensure the confidentiality of users’ information. This technology would also prevent internal systems from accessing certain user data, offering an additional layer of privacy. Additionally, zero-knowledge proofs have the potential to enable self-custody of user funds, potentially serving as an alternative to centralized exchanges for custody purposes.
The integration of AI tools and ZK-proof technology within Bitget reflects the exchange’s commitment to continuously improve its services and ensure the highest security standards. By leveraging AI and privacy-enhancing technologies, Bitget aims to offer a seamless trading experience while protecting user data and funds.
In conclusion, cryptocurrency exchanges like Bitget understand the value of incorporating AI and privacy-enhancing technologies into their operations. These innovations have allowed Bitget to streamline its processes, enhance customer service, simplify trading strategies, and protect user data. As the industry progresses, it is expected that more exchanges will follow suit and embrace AI and privacy-enhancing technologies to stay ahead in the ever-evolving crypto landscape.