Crypto exchanges are continually seeking ways to streamline operations and increase user convenience. A forefront leader in this innovative stride is BitGet, as emphasized by its managing director, Gracy Chen in a recent interview. According to Chen, artificial intelligence (AI) has made significant contributions to this progress as it efficiently solves varied functions within the major crypto exchanges.
For instance, AI continually proves instrumental in BitGet’s translation team. By deploying AI, the team effortlessly handles translation for multi-language services and runs its customer service department. This thus allows for a smoother interaction with users of various backgrounds and promotes better overall customer experience. Similarly, alongside a third-party company, a “customizable, crypto version of ChatGPT” is being developed. This will enable users to communicate swiftly with a bot to gather personalized data and trade insights, enhancing user trading activity.
BitGet’s efforts in integrating AI don’t end here. It recently introduced an AI-powered feature for grid trading strategies, fuelling user experience with automated transactions. By optimizing the “buy low, sell high” strategy, users only need to input their preferred strategy and investment amount; the bot then formulates a multitude of trading strategies for the specified trade pair. This aids users in simplifying the complexity of grid trading, and enhancing the efficiency of their trading.
However, alongside these technologically powered advancements, the importance of user privacy and data protection cannot be overlooked. Recognizing this, Chen brought attention to Zero-knowledge proof (ZK-proof) technology as an effective solution. The technology’s privacy-enhancing features ensure user funds and data are kept confidential and safeguarded against mishandling. In addition, ZK-proofs also prohibit internal systems from accessing certain data, reinforcing user confidentiality while allowing for self-custody through zk-rollups.
Positively, the ongoing improvisations and advancements in crypto exchanges, with a keen eye on data protection, helps to consistently reshape the way transactions are performed. However, it comes with its challenges such as, increasing reliance on AI can mean less human interaction, which some users may prefer. Moreover, as technology advances, so does the risk of cyber threats. The risk of sophisticated attacks on these AI systems can mean significant losses for exchanges and users alike. So, while AI is the future of crypto exchanges, its full potential can only be unleashed with the development of sound security infrastructure.
Source: Cointelegraph
