As the world of crypto keeps evolving and the industry continues to rise, so does the demand for resources and tools that could help users stay ahead of the game. This is where Crypto.com comes in, with its new chatbot that aims to help users expand their understanding of crypto by offering information. The crypto exchange has announced its new generative AI user assistant to inform users about industry insights, including historical events, projects and real-time token prices.
On May 2nd 2023, at the ask-me-anything (AMA) discussion, Crypto.com announced Amy as its new AI companion. Amy is built to inform users about the crypto industry by offering real-time token prices, projects, historical events, and more on industry developments. According to the exchange, Amy is well-versed in all aspects of the crypto landscape and resourceful to anyone seeking to expand their knowledge in this field.
The Executive Vice President of Production at Crypto.com, Abhi Bisarya, said, “As with other businesses and sectors, we see incredible potential and opportunity in the convergence of AI with the crypto industry and our platform specifically. We are excited to be testing this emerging technology through our Amy pilot project. We are bullish on the innovation of AI in crypto, and we look forward to continuing to enhance the utility of Amy and deploy additional Ai-powered capabilities.” According to a Crypto.com Spokesperson, even though the project is still in its pilot stage, AI can have massive positive implications for several industries if done responsibly. The Spokesperson noted, “This is particularly the case for crypto when it comes to helping educate users about the underlying technology and financial services more broadly.”
Amy is built on OpenAI’s ChatGPT and is tailored specifically for blockchain and cryptocurrency information. It is designed to give users insights into historical events that have shaped the crypto industry and provide them with various information on blockchain technology and price listings. Amy is presently launched as a pilot in its beta phase and is available to select users with a Crypto.com or price account. The company noted, “Crypto.com will also introduce Amy to additional Crypto.com experiences over time, including within the Crypto.com App.” During the announcement, Crypto.com emphasised that “Amy does not provide financial or investment advice; learning from this pilot will be applied to Amy’s continued rollout as well as future AI-powered projects from Crypto.com.”
The exchange specifically trained Amy on a crypto-related case, which is a positive sign as it suggests that the chatbot will be able to provide users with more accurate and relevant information. This is because AI-powered assistants’ effectiveness mainly depends on the quality of the data they have been trained on, which is a crucial consideration.
Crypto.com is not the only digital currency firm to venture into AI products. It joins the ranks of other wallets and cryptocurrency exchanges by integrating AI features into its platform. On March 31st 2023, OKX, a cryptocurrency exchange and Web3 technology company launched an AI integration to monitor market volatility through advanced AI algorithms. The platform was aimed at analysing data and trading opportunities, according to developers of Crypto Minded. OKX posted an AI-generated poem from ChatGPT-4 regarding the firm’s wallet captioned, “The amazing features of #OKXWallet presented as Sea Shanty by #ChatGPT. What a time to be alive.”
On April 26th 2023, Solana Labs announced that users could interact through an open-source plugin enabled in the AI chatbot. The plugin will allow ChatGPT to check wallet balances, transfer Solana-native tokens and purchase NFTs when OpenAI makes plugins widely available. Solana Labs posted, “Solana Labs has created an open-source reference implementation for a ChatGPT plugin that lets users interact with the @solana network directly from ChatGPT. Users will be able to check wallet balances, transfer tokens, and purchase NFTs once ChatGPT plugins are available”.
On April 24th 2023, Binance unveiled its new AI-driven tool, Binance Sensei chatbot, which generates answers from its education platform, Binance Academy, to assist users in various topics about Web3. The exchange noted “Introducing #Binance Sensitive, your personal crypto assistant powered by AI. Learn all there’s to know about crypto and Web3 with our new AI chatbot, trained to educate you on more than 1,000 articles and courses available on @BinanceAcademy”. Moreover, other companies in the industry are also jumping on the AI trend. Only some are satisfied with AI, however, as Italy became the first European country to ban ChatGPT until it complies with the EU’s user privacy rules.
Crypto.com CEO Kris Marszalek noted, “Building the ecosystem has been a priority focus for Crypto.com from the start. We double down on our commitments to building and responsible innovation and Amy is the last example of our incredible momentum”. The new Amy chatbot aims to assist users in expanding their understanding of the crypto space by offering information. As the world experiences the boom in AI software, Crypto.com also secured its spot by venturing into AI products.