{"id":38538,"date":"2023-07-21T03:42:13","date_gmt":"2023-07-21T07:42:13","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/bitget-executive-reveals-ais-optimization-of-crypto-exchange-operations\/"},"modified":"2023-07-21T03:42:14","modified_gmt":"2023-07-21T07:42:14","slug":"bitget-executive-reveals-ais-optimization-of-crypto-exchange-operations","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=38538","title":{"rendered":"Bitget Executive Reveals AI&#8217;s Optimization of Crypto Exchange Operations"},"content":{"rendered":"<div>\n<p>Cryptocurrency exchange\u00a0<strong>Bitget<\/strong>\u00a0is using\u00a0<strong>artificial intelligence (AI)<\/strong>\u00a0in a number of ways to provide better services for users and stay ahead of the curve.\u00a0<\/p>\n<p>During the\u00a0Ethereum Community Conference in Paris,\u00a0<strong>Gracy Chen<\/strong>, the managing director of Bitget, revealed that the exchange is utilizing AI tools to streamline processes and enhance functions.\u00a0<\/p>\n<p>One area where AI has proved particularly beneficial for Bitget is in its translation team, Chen said.\u00a0<\/p>\n<p>By leveraging AI, the exchange is able to handle translations for its multi-language services more efficiently.\u00a0<\/p>\n<p>Additionally, the customer service department utilizes AI to provide faster responses to queries, including customized information and trading data.\u00a0<\/p>\n<p>Bitget is also working on an AI-powered chatbot, inspired by\u00a0<strong>OpenAI&#8217;s ChatGPT<\/strong>, to assist users in their trading activities.<\/p>\n<p>\u201cUsers can talk to the bot to get faster responses for certain queries, including tailored information and trading data,&#8221; she said.\u00a0<\/p>\n<p>Furthermore, Bitget has introduced AI-powered features for its grid trading strategies, which enable users to automate transactions using trading algorithms.\u00a0<\/p>\n<p>This is expected to simplify the complexity of grid trading, as users only need to input their desired strategy and investment amount. The AI-powered bot then generates various trading strategies based on the provided parameters.\u00a0<\/p>\n<p>Grid trading, a popular strategy in the cryptocurrency market, involves buying and selling within specific price ranges and time intervals.<\/p>\n<h2>Bitget is Exploring the Use of AI in All Departments<\/h2>\n<p>Chen mentioned that Bitget is considering implementing AI in all departments at Bitget.\u00a0<\/p>\n<p>\u201cI would say every department is experimenting with some sort of application through AI,&#8221; she said, adding that the goal is to enhance efficiency and provide a better user experience.<\/p>\n<p>In addition to AI, Chen highlighted the potential of zero-knowledge proof (ZK-proof) technology to enhance cryptocurrency exchanges.\u00a0<\/p>\n<p>ZK-proof technology ensures privacy and data protection, preventing mishandling of user funds and data.\u00a0<\/p>\n<p>Chen said that Bitget is experimenting with using ZK-rollups to protect users&#8217; information and prevent internal systems from accessing certain data for confidentiality reasons.\u00a0<\/p>\n<p>Zero-knowledge proofs also have the potential to enable self-custody for users, eliminating the need for centralized exchanges to hold custody of user funds.<\/p>\n<p>\u201cZK is very useful for protecting users\u2019 data. There are a few things we\u2019ve been experimenting with. One of them is to have our users\u2019 information protected through ZK-rollups.\u201d<\/p>\n<p>Bitget&#8217;s embrace of AI comes as there are\u00a0increasing discussions about the integration\u00a0of this nascent technology and crypto.\u00a0<\/p>\n<p>During\u00a0Coinbase\u2019s Summit\u00a0last week,\u00a0<strong>Union Square Ventures<\/strong>\u2019\u00a0<strong>Fred Wilson<\/strong>\u00a0said data ownership is applicable not only in Web3 but in AI, as well, arguing that in the future users who employ\u00a0AI tools\u00a0will want to control their own data.\u00a0<\/p>\n<p>\u201cUsers are going to need agency over data and increasingly the way they want it shared across assets,&#8221; Wilson said.\u00a0<\/p>\n<p><strong>Adam Struck<\/strong>, founder and managing partner of Struck Crypto, also mentioned AI could open up additional opportunities to the\u00a0blockchain industry, saying:<\/p>\n<blockquote>\n<p>\u201cYou may actually see a situation where AI is sort of a catalyst to rush back to the blockchain.\u201d\u00a0<\/p>\n<\/blockquote><\/div>\n<p>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/bitget-executive-reveals-ais-optimization-of-crypto-exchange-operations.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cryptocurrency exchange\u00a0Bitget\u00a0is using\u00a0artificial intelligence (AI)\u00a0in a number of ways to provide better services for users and stay ahead of the curve.\u00a0 During the\u00a0Ethereum Community Conference in Paris,\u00a0Gracy Chen, the managing director of Bitget, revealed that the exchange is utilizing AI tools to streamline processes and enhance functions.\u00a0 One area where AI has proved particularly beneficial [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":38539,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-38538","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitget Executive Reveals AI&#039;s Optimization of Crypto Exchange Operations | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Cryptocurrency exchange\u00a0Bitget\u00a0is using\u00a0artificial intelligence (AI)\u00a0in a number of ways to provide better services for users and stay ahead of the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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