Modulus, a US-based developer of ultra-high-performance trading and surveillance technology that powers global equities, derivatives, and digital asset exchanges, today announced the launch of its AI conversational assistant, especially designed for use within digital asset exchanges. The assistant allows users to ask for and receive instantaneous help with trades, their order status, and their account history, among other functionalities.

“This development is not only a game-changer for exchanges across the globe, but for the digital assets industry, as well,” said Modulus CEO Richard Gardner. “We’ve got exchanges on six continents signed up to roll out our new assistant, and it really is going to change the way they do business. From Asia to Africa, from London to San Francisco, digital assets are about to see a significant shift.”

“A lot of people think this is a matter of eliminating customer service manhours, but it goes far beyond cost reduction. This isn’t designed to take over customer service. It is designed to revolutionize it completely, helping customers with routine inquiries while routing the most important, urgent queries to the human who is best qualified to answer them,” said Gardner.

“Cryptocurrency is known for its technical nature. One of the greatest barriers to entry is that retail investors simply don’t feel confident enough in their ability to navigate crypto. This is a gamechanger, as it will allow exchanges the ability to customize responses to investor queries. As time goes on and the system learns, it will be able to adjust to specific investors and their questions, as part of human-in-the-loop technology,” said Gardner.

Modulus has led the way on exchange innovation in the cryptocurrency industry for years. In 2018, the company launched a market surveillance and risk management solution, which targets abuse within cryptocurrency markets and helps exchange operators identify risks of money laundering.

“As more and more exchanges adopt this patent-pending technology, they’re going to be able to expand the demographic groups they look at as potential customers. There are two ways to increase revenue. Take a bigger slice of the pie. Or make the pie bigger. This technology will allow exchanges to do the latter, tapping into new markets and making digital assets more accessible to a wider investor audience,” said Gardner.