Coinbase Global Inc. (NASDAQ: COIN) CEO Brian Armstrong has announced that the American crypto exchange’s design team has begun exploring the use of artificial intelligence (AI) in its activities. The cryptocurrency boss’s announcement indicates that Coinbase is getting comfortable with leveraging AI in its operations despite its initial warnings about the emerging technology.
According to Armstrong, the crypto exchange’s design team is using AI for a myriad of reasons, including the testing of a certain AI design generator. For instance, Armstrong explained on social media platform X, using a simple text prompt to generate a Figma mockup that can act as a design starting point. He added that the artificial intelligence-powered tool can then convert the Figma design into front-end code, allowing design team members to generate front-end code that is in line with Coinbase’s design system.
The team can also train the codes to enhance the experience of users who interact with the cryptocurrency exchange’s user interfaces.
Coinbase was late to the artificial intelligence party, especially in the cryptocurrency space, and initially claimed that the emergence of several AI crypto projects was just hype that would have no actual utility. Despite its initial reluctance to adopt AI technology, Coinbase seems to be joining the growing group of digital-asset service providers that are interested in AI or already using the novel technology in a myriad of ways.
Many digital-asset service providers are particularly interested in integrating the Blockchain with artificial intelligence to provide their users with more secure and sophisticated services.
Neura, a recently unveiled AI project from blockchain infrastructure provider Ankr can mitigate some of the foundational challenges that AI startups face. Proper Neura functionality will require the integration of decentralized GPU resources, on-chain AI operations and cryptocurrency-based crowdfunding.
Flare Network has also hinted that it may be interested in leveraging a new AI-based approach that combines the security and safety of both the blockchain and artificial intelligence. Ripple has also revealed that it is currently developing an AI model called Consensus Learning (CL) that will support collaborative cross-application AI.
Continued advancements in AI have made the technology a potentially disruptive tool with numerous applications across most industries. In the asset-management field, managers are getting increasingly interested in AI because it can help them eliminate the drudgery that is often associated with striving for tangible results.
Asset management company Ark Invest has reportedly invested nearly 4% of its Asset Under Management (AUM) in AI giant OpenAI while JPMorgan Chase CEO Jamie Dimon says AI technology has huge economic potential in all aspects of society.
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