OpenAI CEO Sam Altman. Wynn McNamee — Getty Images
(Part of Fortune Crypto pricing data provided by Binance.)
As artificial intelligence overtakes cryptocurrencies as the next big thing, companies focused on digital assets like venture capital firm Paradigm are scrambling to ride the hype wave.
Some have warned about this early technology. Seychelles-based cryptocurrency exchange Bitget has stopped integrating ChatGPT, a generative AI tool developed by Sam Altman’s OpenAI, into its customer service product, citing misinformation and falsification of facts. .
“If you [base] Making decisions based solely on AI is very dangerous right now,” said Bitget Managing Director Gracie Cheng. “If AI is too integrated here, people will just be too lazy to do their own research and make decisions.”
Bitget is a leading derivatives exchange, offering sophisticated financial products based on the value of underlying assets such as Bitcoin and Ether, rather than spot prices of cryptocurrencies. They also offer a popular product called copy trading that allows users to imitate other traders’ strategies.
Cheng said Bitget is experimenting with implementing AI on its backend platform, including training an AI model on the history of existing successful traders and using the output to help others. . Cheng said BitGet, like other cryptocurrency companies, has invested in AI technology through its venture arm, Foresight Ventures, including $10 million in Web3 training service Fetch.ai. said to be included.
In early April, Bitget also began testing ChatGPT’s potential, integrating tools to manage customer inquiries through automated responses. Bitget’s team quickly realized the limitations of the product, especially since much of the data was taken from before his September 2021.
ChatGPT began providing misleading or incomplete answers to customer questions. When one user asked for examples of cryptocurrencies to consider, ChatGPT included the failed coin Luna in its recommended list.
when luck When asked the same question on May 30, ChatGPT no longer includes Luna, but Luna said, “It’s also because of its innovative approach to blockchain technology and its focus on driving adoption in real-world cases. We are paying attention,” he replied. Trusted Crypto Project.
Another example shows the dataset limits for ChatGPT. When users ask, “Is FTX a reliable cryptocurrency exchange?” ChatGPT replies, “FTX is generally considered to be a reputable and reliable cryptocurrency exchange.” This query is replicated by ChatGPT. luck.
According to Bitget, 80% of cryptocurrency traders using ChatGPT implementation reported a negative experience. The exchange stopped the experiment after two weeks.
While the limitations of ChatGPT’s September 2021 knowledge cut were clear, Chen attributed the decision to “an information gap in a large organization like ours.”
“When we were introducing ChatGPT into our customer interactions, it was rather a decision made by our customer service department,” she said. luck. “The research team and I may have more thoughts and insights about the limits of AI.”
Despite the unsuccessful integration, Chen said Bitget will continue experimenting with AI, including a new investment, Fetch.ai. She speculated that broader technology could have as big an impact on cryptocurrencies as the rise of DeFi in summer 2020.
“This is a new standard or field in cryptocurrency and could be an important application that will shape how the industry works,” she said. luck.