Bitget Implements Restrictions on AI Tools Following User Concerns

Tanya Sharma
Tanya Sharma
Published on May 24, 2023 07:31 AM

Crypto Exchange Prioritizes Human Expertise Amid Negative Experiences with AI Chatbots

Bitget Implements Restrictions on AI Tools
Source: Unsplash

A well-known cryptocurrency derivatives exchange called Bitget has limited the usage of artificial intelligence (AI) products, including chatbots based on AI like ChatGPT, in reaction to unsettling findings and unfavourable customer experiences. 

Bitget prioritises a blend of human expertise and technical innovation after the exchange's survey revealed that cryptocurrency traders have had negative interactions with AI chatbots.

This action highlights the necessity of using human intuition when assessing subtle market nuances and trends while also acknowledging the complexity of the cryptocurrency world.

Limitations of AI Tools in the Crypto Space

Gracy Chen, managing director of Bitget, emphasised the need for diligence when relying only on AI tools because, if not properly handled, they can produce adverse consequences. 

While AI tools can be robust and resourceful, they lack the human touch necessary for accurately interpreting the intricacies of the crypto market. 

Chen emphasised that using AI tools should not be seen as a replacement for using human discretion, seeking professional financial advice, or conducting independent research. 

The amount and quality of the data that AI tools get and the training algorithms they go through have a significant impact on their efficacy.

Striking a Balance between Technology and Human Insight

Bitget's decision to limit the use of AI tools reflects a growing awareness of the limitations and potential risks associated with relying solely on AI in the financial sector. 

  • The exchange aspires to deliver a more dependable and user-centric trading experience by giving priority to a blend of human expertise and technical innovation.

  • It is necessary to proceed cautiously with the application of artificial intelligence because society's comprehension of the technology is still in its infancy.

  • To successfully traverse the always-changing and complex cryptographic landscape, human judgement and intuition are needed.

Wrapping Up

Although AI techniques have proven useful in a variety of fields, Bitget's recent limitations emphasise the necessity for balance and human engagement in the cryptocurrency business. 

The exchange has prioritised human knowledge with technical improvements in response to the unfavourable user experiences and potential for disinformation brought on by AI chatbots. 

It is crucial to understand that, despite their advantages, AI technologies are not perfect and shouldn't be used in place of critical thinking, expert counsel, or independent research. 

For the purpose of establishing a more informed and trustworthy crypto trading environment, it is essential to strike a balance between human understanding and AI innovation.



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