Kraken CTO outlines AI benefits for the crypto market

The new chief technology officer of the Kraken cryptocurrency exchange Vishnu Patankar считает that the growing popularity of artificial intelligence (AI) and language models will have a significant impact on the digital assets industry.

In his view, the NFT generative art, fraud prevention and cybersecurity are “symbiotic areas” between the crypto market and AI.

“It’s hard to ignore the power of large language models in AI. However, it will be interesting to see which business models withstand the initial hype cycle and the path to market, revenue and profitability,” he added.

Another common trait between digital assets and AI, Patankar said, is the processing of large volumes of data by enormous computing power.

He believes that, thanks to the symbiosis, the technologies can be used to mutual advantage, including in customer service.

In the role of the new CTO, Patankar plans to scale the platform, taking into account ‘the most promising aspects Web3‘, while keeping a focus on security and service.

He has more than 20 years of experience in tech companies, including Microsoft, Amazon, Intel and Groupon. Before joining Kraken, Patankar worked with StockX, helping to develop NFT.

According to a KuCoin exchange study, 59% of crypto users positively perceive the integration of AI with blockchain technologies.

Earlier, 61% of Americans called artificial intelligence a threat to humanity.