Bitget Exec Reveals AI Optimization of Cryptocurrency Exchange Operations

Source: AdobeStock / Rafael Henrique

cryptocurrency exchange bitget is using artificial intelligence (AI) in various ways to provide better services to users and stay ahead.

During the Ethereum community conference in Paris, Grace ChenBitget’s managing director revealed that the exchange is using artificial intelligence tools to streamline processes and improve features.

One area where AI has proven particularly beneficial for Bitget is in its translation team, Chen said.

By leveraging AI, the exchange can handle translations for its multi-language services more efficiently.

In addition, the customer service department uses AI to provide faster responses to inquiries, including personalized information and business data.

Bitget is also working on an AI-powered chatbot, inspired by OpenAI ChatGPTto assist users in their business activities.

“Users can talk to the bot to get faster responses for certain queries, including personalized information and business data,” he said.

Additionally, Bitget has introduced AI-powered features to its grid trading strategies, which allow users to automate trades using trading algorithms.

This is expected to simplify the complexity of network trading, as users only need to enter the desired strategy and investment amount. The AI-powered bot then generates various trading strategies based on the provided parameters.

Network trading, a popular strategy in the cryptocurrency market, involves buying and selling within specific price ranges and time intervals.

Bitget is exploring the use of AI in all departments

Chen mentioned that Bitget is considering implementing AI in all Bitget departments.

“I would say all departments are experimenting with some kind of application through AI,” he said, adding that the goal is to improve efficiency and provide a better user experience.

In addition to AI, Chen highlighted the potential of zero-knowledge-proof (ZK-proof) technology to improve cryptocurrency exchanges.

ZK’s proof technology ensures privacy and data protection, preventing mishandling of user funds and data.

Chen said that Bitget is experimenting with the use of ZK-rollups to protect user information and prevent internal systems from accessing certain data for confidentiality reasons.

Zero-knowledge proofs also have the potential to enable user self-custody, removing the need for centralized exchanges to custodial user funds.

“ZK is very helpful in protecting user data. There are a few things we’ve been experimenting with. One of them is to have our users’ information protected through ZK-rollups”.

Bitget’s embrace of AI comes as there are increasing discussions about the integration of this nascent technology and cryptography.

During Coinbase Summit last week, Union Square Venturesfred wilson such data ownership is applicable not only in Web3 but also in AI, arguing that in the future users employing AI tools will want to control their own data.

“Users are going to need agency over the data and increasingly how they want it shared across assets,” Wilson said.

adam hitfounder and managing partner of Struck Crypto, also mentioned that AI could open up additional opportunities for the blockchain industry, saying:

“You can actually see a situation where AI is kind of a catalyst to quickly come back to the blockchain.”