tl;dr
Binance CEO Richard Teng emphasizes that AI is essential for organizations to operate faster and more efficiently. Binance integrates AI into product development, customer support, operations, and compliance, particularly enhancing security through a smart risk engine that monitors suspicious activi...
Binance CEO Richard Teng underscores AI as indispensable for organizations striving to operate faster and more efficiently. The company integrates AI comprehensively across product development, customer support, internal operations, and compliance to enhance overall performance.
In particular, Binance leverages an AI-powered threat monitoring system equipped with a smart risk engine and manual reviews to detect suspicious activities in real time. This robust security measure protects users in P2P trading, payments, and cryptocurrency withdrawals by halting unusual actions before damage occurs.
Supporting innovation at the crossroads of AI, blockchain, and finance, Binance secured a notable $2 billion investment from MGX AI, further fueling advancements in these cutting-edge domains.
Binance warns of a growing menace: AI-powered scams utilizing facial replication technology to circumvent biometric security. The exchange advises users to safeguard personal information, refrain from sharing ID images publicly, and maintain device security to mitigate these risks.
Richard Teng’s message is unequivocal—AI is not merely an option but a critical tool enabling Binance to maintain a competitive edge and protect users amid rapidly evolving technological threats. At Binance, AI has transitioned from a strategic advantage to an operational necessity.