Artificial Intelligence (AI) technology is revolutionizing the way industries operate and Crypto.com is the latest in the crypto space to adopt it.
On May 2, the cryptocurrency exchange announced the launch of its new generative AI user assistant, Amy. Built with ChatGPT technology, Amy is designed to inform users about the industry, including real-time token prices and projects, historical events, and more.
Abhi Bisarya, the executive vice president of products at Crypto.com, expressed his excitement for the potential of AI in crypto, stating that the convergence of the two fields presents a significant opportunity for their platform.
While Amy is currently in its pilot phase, the company plans to gather learnings to inform future expansion plans.
According to a spokesperson for Crypto.com, the integration of AI into the crypto industry could have massive positive implications if done responsibly.
One potential benefit is the ability to educate users about the underlying technology and financial services more broadly. The spokesperson also expects to receive feedback from the AI pilot, which will be integrated into future upgrades.
Crypto.com joins other cryptocurrency exchanges and wallets that have already integrated AI features into their platforms.
OKX exchange recently launched an AI algorithm to capture crypto market volatility. Solana Labs also announced their ChatGPT-based plugin that uses AI to fetch blockchain data to check wallet balances, transfer tokens, and purchase non-fungible tokens.
Binance, the largest cryptocurrency exchange by trading volume, has also launched an AI chatbot that emphasizes user education as part of its Web3 academy.
Bitget, a digital asset trading platform, has pledged $10 million to develop the Fetch.ai ecosystem by providing consultations on marketing and other services to help Fetch expand its business network.
As AI technology continues to evolve, it is expected that more industries will adopt it to improve their operations. The crypto industry is just one of many that are embracing this transformative technology to enhance user experiences and education.