The True Evolution of Digital Assets: AI Brings Dignity And Agency | Vivien Lin | ETHWarsaw [4]

Uh hello everyone. I'm Vivian Ling, the chief product officer at BingX and head of BX Labs. Uh this is my second time to be in this fantastic city and uh last time was in March. At that time I still spent some time to introduce who is being X what we are providing. But today I think we can move on into a more in-depth topic about AI.

AI bringing uh AI bring dignity and agency not just uh technology. Well, that's a huge topic. Well uh just start with uh who is being X just one word is we funded in 2018 and uh um after like so many years development and partnership with different um like uh uh projects and uh technology providers. We now serve 20 million users worldwide and in terms of deriv derivative trading volume we rank top five uh globally on uh derivative exchange space. Um those milestone like this remind us not only how fast this space is evolving but also how important it is to keep innovating.

So what is the um next in the crypto uh industry or digital asset industry? Um as far as we can see from the technology advancements recently we believe that AI will stay at a core for next chapter in digital asset no matter it's utility development or just simple as simple as trading since the first version of tragt launch um we actually already start to look for solutions for those longlasting challenges existing there in this industry for a very long time. For example, how to gather information, how to help user to understand what the functionality of a tool or what is the background information and research the uh fundamentals of a projects. Those are the barriers that most users in this industry are facing every day. And we believe AI probably the thing that can help to solve that problem.

So we invest actually a lot of money and resource and of course our engineer into that space. Now we deployed our own AI agent AI server to handle all those status from public market and um internally. So how what our goal is to provide a true financial dignity that is u terminology quite philosophic. So uh it described the willingness and the demand for uh fair access to the market uh and fair access to information that people have the full understanding of what they are doing and have the ability to make informed uh informed decision based on the information they have. But looking at the crypto industry like many users feel overwhelmed by those jarens uh the noise the fragmented informations because like for so many times like myself as well I have to go to Twitter to find what K is talking about and go to Discord and Telegram to find what community cares about and also looking for those um project timelines from like different very fragmented resources And also maybe come to the forum, come to the um like uh uh offline gatherings to figure out what exactly the product uh the project is doing for those informations that you have you have to know where is the access to get not alone uh that how to process them correctly.

So this uh information gap um really scare away uh people who have uh maybe relatively limited uh technology access, technology knowledge and project access and this results in lower in their confidence to make in uh make a informed decision and all those complexity uh like embed embedded in the nature of the industry really creates exclusion not empowerment. So after we observe the um what AI can do right AI AI can handle a large data set. We believe AI is a key to break those barriers. Um AI can turn raw data into real time actionable insight. You don't need to go to different website um to interact with um like a real person or to like talk to in in your group to get those informations.

um AI can gather all those informations for you and give you a rough summary about what you should care about in the market and it can reduce the noise simplify complexity. Uh as I just described the technology technology work is quite comp complicated especially for newcomers or who have um a weak background in technology and AI can enhance decision making with machine precision. um like some of the user or some of the trader they are more risk averse some of them are more risk-taking but uh without someone that very neutral and very uh rational sometimes we as a trader when we make decision we unavoidably to influence by by our feeling about the market that day sometimes we see it's a very emotional trader but if we're looking back those emotional sometimes sometimes help sometimes doesn't help. So with AI it become a very reliable and very uh kind of like neutral and reasonable helper assistant beside you to give you the machine precision to help you to make a decision and of course the AI can observe the behaviors. Um it can be just like someone really observe uh your style your investment preference based on the historical data historical uh transactions your your trading log and um uh importantly turn a user from a passive user to active trader and eventually turn them into a intentional trader.

The difference between passive passive user and active participant is that um like for example we we we see a lot in the market that someone is trading so you say okay I'm so formal so I have to follow the trend that is pretty much passive because you react only when the thing happen and active participant is like hey I I feel the market uh is maybe going up so uh I I observe a p a active I a positive news coming up. So I reactive upon the news I receiving but intentional trader is that I plan everything um like before beforehand. I know when this kind of information pop up I should buy or or that kind of information pop up I should sell. So you become more a planner of your own investment and these things can be all can be done with the help of AI. and come to the pain points in adopting AI at this moment.

Um like from my own experience is pretty pretty much related to lack of real time contextual AI support and uh current to current tool are quite fragmented. Um since we're doing investment in AI space and web 3 related space we actually see like myself I probably see over 20 um I mean over 30 30 AI assistant or AI agent to help us to uh process and filtering and summarize information uh from different angle using different model. Well, the problem is for example chat GBT. I use chat chat GBT to summarize overnight mark uh market news from mostly the macroeconomy and equity market and fixed income market. But it comes to uh crypto especially the meip token I have to change it to u the uh AI assistant that uh Twitter provide X provides right because they have their own uh local uh deployed AI model and their own uh private information I I feel that is probably a better tool to use.

This is the case that I mean uh the fragmented static use because the exclusion of the data. So I was hoping that maybe if what if there is a tool that can um combine and consolidate the different the the advantage the the the uh strengths of different AI model into one platform one model then my life will be so much easier and of course trust endorse uh trust eros when AI isn't simulous um sometimes when you're using different AI model it give you contradictory logic and contradictory uh result at that moment. Actually like for experienced trader they probably have a better uh master of how they want to process those information but for newcomers or um relatively inexperienced traders they will feel very confused and all those will scale them away from like making timely decision. Yeah. And um that is that is the gap we want to tackle.

That is the the problem we want to address is to we hope that we can provide a tool that consolidates all those strengths uh among different models into one very powerful one. So um now we we're trying to deise a suite of intelligence uh tools and assist and agents to redefine the future of crypto uh trading. Um I think Bing X uh probably the first um crypto exchange in our in our industry as as far as I know to have such a huge commitment and um investment in AI related space and in developing the AI I mean interface for user to use. We use multimodel AI engine and uh use multi-dimensional data from the public and from our own private data. We're trying to revolutionize the crypto trading experience to be make it uh faster, more intelligent, and always there when you need it.

Yeah. Our road map. Um we want to build the future step by step. Now BX AI is live across uh Bing X product offerings. uh we have two million like early adopters globally and we now use our AI assistant to respond over 20 million inquiries.

The average response time is less than 8 seconds. That is quite impressive given the like the volume we have and given uh the aspect the scope we we are we are tackling and uh we are recruiting the top talent from uh different like AI institutions and uh um behavioral finance as well as the web 3 and engineers to build this mission together with us. And on back of all those commitment and those efforts is the uh hardworking from BX labs. Uh BX lab now have a multi-year 300 million commitment for investing in the um ad I mean advan advanced AI technology and applications to combine AI and crypto and also blockchain technology. Those are the areas that we are mainly uh focusing on this moment and we will we will very soon launch our BingX AI institute that is the hub we built to uh help the good projects uh the top talent and all those very innovative ideas emerging I don't know what they are but they are emerging every day different use case uh different uh technology the the tax solutions uh at the backbone of our offerings and AI of course now is at the core of everything um running on Bing X from internal efficiency enhancement to external product user interface and user experience and of course in our risk management system and our um the way how we manage our customer how we manage our u partnership and uh external business uh partnerships.

We committed to the industry collaboration to build the ecosystem together with uh the the digents, the engineers and also the researchers. looking ahead the future of AI and crypto and of course they will be more intelligent, more real time um and user fa first innovation because we will apply AI to all like every step of our business from uh market analysis uh to like users or traders behavior analysis and we will provide a um a map and a picture of what the user looks like from AI perspective. ive what kind of trading style and what kind of risk preference they are to provide a image for them to study their their self. So a interesting thing is that maybe in the future your AI assistant will know you better than yourself. This is also uh take the root for all those products.

our user first innovation here and we were transforming how people trade and interact with the market with all those tools um and those analysis we are providing in the future. Yeah, I think we have a lot to expecting in the future from AI and blockchain. I I still remember a very uh very interesting um topic about two years ago. At that time we will also talk about AI and blockchain sometime there's a one very good friend mentioned to me that AI and blockchain they are force marriage because because blockchain is handled with how people achieve consensus and it's always takes time right and AI consume a large uh data set and uh what they are good uh what they have to do is to consume data consume time so blockchain and AI they are force marriage but coming to Today we when we revisit this topic I feel there's a um quite interesting and very promising application out there one is in the context of what I just said the trading context another is for example payi uh and also the the the border list applications and all those things can be um I I really see there is a real application real use case arising from those areas so I'm pretty much looking forward to um working um I mean to apply AI technology to the crypto uh industry and the blockchain technology we are developing. Okay, I'll stop here.

Thank you very much.