Bybit's CEO details comprehensive AI integration plan for client and internal operations utilization
Revised Article:
BytheLooks, AI Enhances Trading at Bybit
Hear directly from the horse's mouth - Bybit CEO Ben Zhou on how AI tools are amplifying user experience and internal operations at the major crypto exchange.
In an exclusive chat on April 23, Zhou shared insights into Bybit's AI-powered offerings for its users and employees alike.
For the traders, Bybit presents CryptoLens and TradeGPT, AI platforms offering in-depth analysis of any crypto project, irrespective of its listing on Bybit. CryptoLens provides insights on project fundamentals, tokenomics, community engagement, and social trends, while TradeGPT offers quick access to context-specific insights and technical analysis for tokens.
AI and the Human Touch
AI might not be able to replace human interaction entirely in customer support, says Zhou, but it can surely handle approximately 80% of user inquiries. He emphasized that the key to smarter AI agents lies in equipping them with the right access and security verification tools to address as many questions as possible. However, there will always be instances where human intervention is required, particularly when handling complaints.
Bybit's AI Inside Job
Beyond customer assistance, AI helps Bybit in a multitude of internal functions. AI is utilized for development, feature testing, translation, project management, and legal support. For instance, AI translates communications into more than 20 supported languages daily, while the internal tool AiLegal helps draft contract templates and other documentation. Like most tech companies, Bybit also harnesses AI to streamline new feature developments.
The Untraceable Remnants
Remember the Bybit hack? A staggering 27.6% of the stolen funds remain untraceable - an unsettling revelation from Zhou.
Are AI-Driven Crypto Bots Worthy of Trust?
Trading bots infused with AI can offer a level of automation and efficiency unmatched by humans. Here are some of the bots dominating the market, along with their merits and potential drawbacks:
- Cryptohopper: A cloud-based solution supporting 100+ tokens across 15 exchanges. Known for compatibility and customization options, it offers robust customer support.
- 3Commas: Intuitive automation and options trading on over 17 exchanges.
- Coinrule: No-code trading rules with integration into more than 10 exchanges.
- Pionex: Offers 16 free built-in trading bots, though it charges a small transaction fee per trade.
- HaasOnline: Advanced features suited for day traders, including edge computing, backtesting, and HaasScript.
- TradeSanta: User-friendly setup and strong customer support, making it perfect for new traders.
- Shrimpy: A focus on portfolio management and rebalancing across multiple exchanges, with social trading features.
The Pillars of Reliability
Factors such as customization options, integration with reputable exchanges, user support, and strong security measures contribute to the reliability of AI-driven trading bots. Evaluate these factors depending on your specific trading goals and risk tolerance. Always remember: while AI-powered bots can offer stellar efficiency, they're only as robust and trustworthy as the foundational elements upon which they're built.
- Bybit, the major crypto exchange, uses artificial intelligence (AI) to empower traders with CryptoLens and TradeGPT, AI platforms providing in-depth analysis of various crypto projects, including XRP token and tokenomics.
- According to Bybit's CEO Ben Zhou, AI can handle around 80% of user inquiries in customer support, relying on the right access and security verification tools for a smarter operation.
- Beyond customer support, Bybit employs AI in various internal tasks like development, feature testing, translation, project management, and legal support; for example, AI is used to translate daily communications into over 20 supported languages.
- Regrettably, 27.6% of the stolen funds from the Bybit hack remain untraceable, as admitted by Zhou.
- AI-driven trading bots, such as Cryptohopper, 3Commas, Coinrule, Pionex, HaasOnline, TradeSanta, and Shrimpy, offer automation and efficiency, though their reliability depends on factors like customization options, integration with reputable exchanges, user support, and strong security measures.
- Despite leveraging technology like artificial intelligence, the fundamentals of any AI-powered tool, be it a trading bot or a customer service tool, should never be overlooked, as they largely determine the tool's robustness and trustworthiness.
