Binance partners with AWS to improve user experience with generative AI
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Binance has partnered with Amazon Web Services to integrate generative AI for an improved user experience. The AI-powered KYC process has greatly improved authentication levels and operational efficiency.
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Binance has partnered with Amazon Web Services (AWS) to enhance user onboarding, streamline customer support and streamline internal investigations with generative AI technology.
The crypto exchange, which serves more than 237 million registered users, has integrated several AWS services, including Amazon Bedrock for AI capabilities and Amazon ECS for container service deployment.
The new AI-powered know-your-customer (KYC) process has improved user data identification speed by 95%, reduced fingerprint detection costs by 80%, and increased address verification approval rates by 6% in 107 countries.
The system reduced manual World-Check case review time by 30 percent.
“By integrating AWS' cloud technology suite, including generative AI capabilities, we are streamlining our operations and setting new standards for efficiency and reliability in the crypto industry,” said Rohit Wade, Binance's chief technology officer.
Amazon Bedrock's implementation in Binance's AI-powered chatbot resulted in a 5% improvement in Bot First Call Resolution across all user scenarios using AI-powered applications.
“We are excited to support Binance's mission to drive innovation and reliability in the digital asset space,” said Arnie Ragvender, director of cloud and AI innovation at AWS.
Binance plans to expand its use of AWS's proprietary AI technologies and cloud services into additional areas, including customer service, compliance and risk management.
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