Binance Integrates Amazon’s AI Technology

Binance is set to incorporate Amazon Web Services’ (AWS) generative artificial intelligence into its products, as stated in the company’s blog.

AWS will assist in enhancing user experience, customer support operations, automated diagnostics of internal systems, and troubleshooting.

The AI application is focused on two key areas:

• streamlining KYC processes;
• resolving user issues.

A more advanced KYC automatically populates user information, checks the quality of documents with address verification, and accelerates the analysis of World-Check.

During system tests, the user information recognition rate increased to 95%, document approval speed improved, and the procedure time was reduced.

Amazon Bedrock within Binance’s chatbot showed “promising” initial results, refining user queries and generating “high-quality responses” during customer interactions.

In August, Binance reported using AI to combat fraud, preventing the theft of over $2.4 billion in user funds.