TL;DR

Binance partners with Amazon Web Services (AWS) to improve user experience through generative artificial intelligence.
The collaboration focuses on optimizing identity verification and customer service processes.
AWS offers advanced tools like Amazon Bedrock and Amazon ECS to power the Binance platform.

Binance, in its continuous effort to improve user experience and optimize its platform, has taken a significant step by partnering with Amazon Web Services (AWS) to implement generative artificial intelligence solutions.

Through this collaboration, Binance aims to simplify the registration process for new users and offer more intuitive and automated customer service.

The cryptocurrency exchange platform, which hosts over 237 million registered users worldwide, faces the challenge of providing a seamless user experience, especially in areas such as identity verification (KYC) and support for common issues.

The source of this information, Binance, highlights how this alliance with AWS will allow the integration of advanced artificial intelligence and cloud computing tools into its ecosystem.

These tools include Amazon Bedrock and Amazon Elastic Container Service (ECS), which will serve as the foundation for deploying generative artificial intelligence applications.

These technologies enable Binance to run AI applications in a scalable and efficient manner, optimizing both the user experience and internal support and verification processes.

By implementing automated KYC solutions, Binance has managed to increase the user information recognition rate to 95%, in addition to reducing optical character recognition (OCR) costs by 80%.

The solution has also increased the pass rate for address tests in 107 countries and decreased manual case review time in World-Check by 30%, demonstrating the effectiveness of AWS tools in high-demand environments.

Innovation and Efficiency in the Crypto Sector

Binance’s approach to customer service optimization includes the use of a generative AI- powered chatbot, developed with Amazon Bedrock, which has shown improvements in first-contact query resolution by 5%.

This development underscores Binance’s commitment to delivering high-quality and reliable service, reducing wait times and improving user satisfaction in critical interactions.

Rohit Wad, CTO of Binance, said that the integration of AWS technologies supports Binance’s mission of maintaining operational excellence.

The partnership will not only enable more agile operations, but will also set new standards of efficiency and reliability in the blockchain and cryptocurrency sector.

With these tools, Binance is preparing to expand the use of generative artificial intelligence to other areas, including risk management and regulatory compliance, which represents an important step forward for the company in terms of technological innovation.

Arni Raghvender, Director of Cloud and AI Innovation at AWS, highlighted the transformative potential of this collaboration, which integrates services such as Amazon CloudWatch and AWS Lambda.

According to Raghvender, the synergy between generative AI and AWS cloud services enables Binance to not only optimize internal systems but also establish pioneering approaches in automated problem resolution, significantly improving the overall experience of its user base.

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Filed under: News - @ October 31, 2024 3:25 pm