Richard Teng, the CEO of the popular crypto exchange, Binance, revealed the company’s plans to tap into the power of Artificial Intelligence (AI) to transform its compliance and customer engagement functions in a keynote address at Consensus Hong Kong 2025.

He stated, “We are exploring AI in different facades of the organization to make it a very high-performance organization.”

Consensus Hong Kong is a crypto and Web3 event where industry leaders, innovators, and investors meet to network, make deals, and discuss the future of the industry. At the event, Teng highlighted the growing convergence of AI and blockchain technologies, citing the increasing use of AI agents, tokens, and development tools in the industry. 

He also emphasized that this integration will have a profound impact on how companies build products and projects, driving innovation and efficiency.

Speaking about the platform’s 260 million users and 6,000-strong staff, Teng noted about Binance, “6000 plus people is not big, by the way, so we are a very efficient organization. But we are still considering the use of AI to make us even better on their front.”

AI Adoption Across Binance’s Operations

Teng revealed a number of the platform’s features where Binance plans to integrate AI capabilities. For instance, the company is exploring AI applications in its customer service to enhance user experience and reduce response times.

Binance also plans to implement AI into its Know-Your-Customer (KYC), Know-Your-Business (KYB), transaction monitoring, and market surveillance operations to ensure regulatory compliance.

In addition, the platform is considering using AI to streamline operations, reduce costs, and enhance overall performance. The company’s integration plans, headed by its new CEO, Teng, could potentially lead to a downsizing of its workforce, currently numbering over 6,000.

Teng’s Tenure: What’s Next for Binance?

In November 2023, Richard Teng replaced Changpeng ‘CZ’ Zhao as CEO, after he pleaded guilty to criminal charges related to his management of Binance. Since then, there have been several notable updates to the platform.

In a recent development, the crypto exchange quashed rumors of a massive asset sell-off, reassuring users that their funds are secure. 

The rumors stemmed from on-chain data showing an $8 billion drop in Binance’s non-customer reserves between December 2024 and February 2025, which the exchange attributed to internal treasury management strategies.