Crypto derivatives platform Bitget recently announced their decision to limit their usage of artificial intelligence (AI) tools like ChatGPT. This was in response to traders bringing attention to the potential for misinformation stemming from the technology. According to a survey Bitget conducted, 80% of crypto traders had a negative experience with the AI chatbot.
Gracy Chen, a managing director at Bitget, commented that the company is working to combine “human expertise and technological innovation”. With AI still in the development phase and the crypto market being complex and volatile, Chen noted that AI tools lack the “human touch” necessary to accurately interpret trends and market nuances.
This idea was echoed by OpenAI — a research lab that sees enterprise-grade AI as an essential technology for growth. OpenAI introduced ChatGPT in November. Bitget had been using this tool to handle customer inquiries. But soon it was apparent that language models used in ChatGPT are not always up to date; providing false investment advice and unreliable information.
Some other crypto exchanges have also begun to dabble into AI usage. Crypto.com, for instance, created Amy as a pilot AI companion tool. Though based on ChatGPT, it has been tailored to suit customers’ needs. Meanwhile, Bitget is partnering with Fetch.ai, an AI blockchain platform, to invest $10 million into their ecosystem.
Ultimately, Chen believes that AI still has a place in crypto, especially for basic queries or interpreting complex topics. Yet, it should not be viewed as an alternative to financial advice from professionals and research. This is why Bitget has decided to limit its use of AI, and instead focus on a comprehensive and human-driven approach.
