As Crypto Embraces AI, Major Exchange Drops ChatGPT Integration Because It’s Highly Dangerous

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As artificial intelligence eclipses crypto as the next big thing, digital asset-focused companies such as venture capital firm Paradigm are scrambling to capitalize on the wave of hype.

Some issue warnings about emerging technology. Bitget, the Seychelles-based crypto exchange, has killed its integration of ChatGPT, the generative AI tool created by Sam Altmans OpenAI in its customer service products, citing misinformation and falsification of facts.

If you [base] your AI-only decision making is very dangerous right now, said Gracy Chen, CEO of Bitgets. When AI is too embedded here, people get too lazy and don’t do their own research and make those decisions.

Bitget is a leading derivatives exchange, meaning it provides advanced financial products based on the value of underlying assets such as Bitcoin and Ether, rather than the spot price of cryptocurrencies. It also offers a popular product called trade copy, where users can imitate other traders’ strategies.

Chen said Bitget has been experimenting with implementing AI in its core platform, such as training AI models with the history of its existing successful traders and using the exit to help others. . Like other crypto companies, Chen said Bitget has invested in AI technology through its venture capital arm, Foresight Ventures, including $10 million in training service Web3 Fetch. have.

At the beginning of April, Bitget also launched a test to assess the potential of ChatGPT, integrating the tool to manage its customers’ requests via automated responses. The Bitgets team quickly realized the limitations of the product, especially because so much of its data is pulled from before September 2021.

ChatGPT started offering misleading or incomplete responses to customer queries. When a user asked for examples of potential cryptocurrencies to consider, ChatGPT included the failing coin Luna in their recommended list.

When Fortune asked the same question on May 30, ChatGPT no longer included Luna, although he replied that Luna had also gained attention for his innovative approach to blockchain technology and his focus on driving adoption. in real cases when asked if it was a trusted crypto project.

Another example shows the limitations of the ChatGPTs dataset. When a user asks, is FTX a trusted crypto exchange, ChatGPT replies that FTX is generally considered a trustworthy and trustworthy cryptocurrency exchange, a query replicated by Fortune.

According to Bitget, 80% of crypto traders who used the ChatGPT implementation reported a negative experience. The exchange suspended the experiment after two weeks.

While the limitations of ChatGPT’s knowledge shutdown in September 2021 were clear, Chen attributed the decision to information gaps in a large organization like ours.

When we implemented ChatGPT in customer interaction, it was more of a decision made by customer service, she told Fortune. The research team and I might have more thoughts and ideas on the limits of AI

Despite the failed integration, Chen said Bitget will continue to experiment with AI, including through its new investment, Fetch.ai. She speculated that the broader technology could have as big of an impact on crypto as the rise of DeFi in the summer of 2020.

This is a new criterion or sector of crypto that may have significant applications that will shape how this industry operates, she told Fortune.

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