Crypto exchange network Crypto.com recently introduced its AI-focused companion, Amy, a user companion within the network developed to help users get almost real-time information on projects and tokens, provide details such as price listings and historical events, and function as a crypto expert resource for new users. This move comes as Binance, another exchange platform, appears to be distancing itself from AI technology.
Kris Marszalek, Crypto.com CEO, first announced Amy’s launch during an AMA session. Based on OpenAI’s ChatGPT technology, Crypto.com claims to have trained Amy with the exchange’s data to provide maximum benefits to users. The tool is currently in beta and only accessible to a select few individuals. Crypto.com plans to gather learnings during this beta period, eventually expanding access to other tools within the network, including the Crypto.com app.
Amy’s key focus is to assist new users and help them spot opportunities within the industry. As Abhi Bisarya, EVP of product at Crypto.com, explains, “We are excited to be testing this emerging technology through our Amy pilot project. We are bullish… look forward to continuing to enhance the utility of Amy and deploy additional AI-powered capabilities.” However, Crypto.com also stresses that Amy will not offer investment advice.
While Crypto.com embraces AI technology and seeks to reach 250 million users, Binance appears to be taking a different stance. On May 2, Binance reported that bad actors were using ChatGPT-3.5 to spread fake news and create fear, uncertainty, and doubt (FUD) about the crypto exchange. The AI provided links connecting Binance’s CEO Changpeng Zhao to the Chinese Communist Party and a state-owned petroleum company. Notably, the other two GPT versions gave accurate answers.
Despite Binance’s recent experiences with AI, the company was previously researching AI applications to improve education about the web3 landscape. While Crypto.com advances its AI initiatives with Amy, the contrast between the exchange networks’ approaches towards AI technology raises questions about the potential risks and benefits this technology could bring to the crypto space.