At Binance, AI is going from being an option to being a must as Richard Teng, the CEO, has made obvious in his latest post. The essence of the message is that every organization needs to use AI to operate faster and more efficiently.
For Binance, that means putting artificial intelligence at the center of how it builds products, supports customers, runs internal operations and handles compliance.
The black-and-yellow crypto behemoth is already putting this into action, especially when it comes to security. As reported in 2024, Binance's threat monitoring system uses a smart risk engine with AI and manual reviews to scan for suspicious activity in real time.
It is designed to safeguard users across the board, whether it is P2P trading, payments or crypto withdrawals, by identifying and halting any unusual activity before any harm can occur.
Binance's focus on AI has gotten a lot of support already, with a $2 billion investment from MGX AI, a company based in Abu Dhabi that invested in artificial intelligence and advanced technologies earlier in March.
The goal is to encourage new ideas where AI, blockchain and finance meet, and Binance is a key player in this.
Binance cannot afford not to use AI as scammers are already using the technology to replicate people's faces from public photos and videos to bypass facial recognition and steal crypto. The exchange's research team has identified this as an increasing threat and are encouraging users to avoid posting ID images and to keep their devices secure.
Teng's message is clear: AI is not just nice to have; it is a critical tool for staying ahead.
Vladislav Sopov