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Crypto.com launches an AI-focused product in tense market

Cosmos vs Polkadot vs Venom05

Cosmos vs Polkadot vs Venom05

Crypto exchange network Crypto.com recently announced the inception of its AI-focused companion, Amy. This comes as another exchange, Binance, seemingly shuns AI.

AI developed by Crypto.com is called Amy and works like a user companion within the network. Kris Marszalek first mentioned this product in an AMA session.

However, Crypto.com released a press statement detailing the new project only moments later. 

Based on the reports, the new tool is based on OpenAI’s ChatGPT technology. Crypto.com claims to have trained Amy with the network’s data to be more beneficial to its users. 

The Amy tool is available only in beta to a few select individuals.

Crypto.com is soon working on expanding access to its other tools, including the Crypto.com app. During this beta period, Crypto.com’s Amy will gather some learnings before the network chooses to expand further. 

By design, Amy aims to help users in the industry get almost real-time info on projects and tokens. The companion will also help users acquire details like price listings and historical events.

Moreover, Amy will be a crypto expert resource for rookies and new users, mostly focused on providing learning options. Crypto.com notes that rookies can use this platform to spot new opportunities.

“We are excited to be testing this emerging technology through our Amy pilot project. We are bullish… look forward to continuing to enhance the utility of Amy and deploy additional AI-powered capabilities.”

Abhi Bisarya, EVP, product at Crypto.com.

Crypto.com noted that Amy would not offer investment advice. 

While discussing the new AI, Kris highlighted Crypto.com’s ambition to reach 250 million users and launch the only crypto derivatives trading network regulated by CFTC. 

Crypto exchanges vs. AI tech

Crypto.com’s take on AI comes when Binance is seemingly against the new technology. 

Earlier on May 2, Binance reported that bad actors seemingly use ChatGPT-3.5 to spread fake news and FUD about the crypto exchange. This comes as the AI provides links of Changpeng Zhao to the Chinese Communist Party and a state-owned petroleum company.

However, Binance noted that the other two versions of GPT gave correct answers. Recently, Binance was exploring AI tech to help improve education about the web3 landscape. 

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