Coinbase Global Inc. (NASDAQ:COIN) CEO Brian Armstrong announced on Wednesday an ambitious plan to expand the percentage of AI-generated code at the company to more than 50% within the next month.
COIN is biding its time at current levels. Track the latest developments here.
AI To Eclipse Human-Written Code?
Armstrong stated in an X post that AI generates approximately 40% of daily code at Coinbase and aims to boost this to 50% by October.
“Obviously it needs to be reviewed and understood, and not all areas of the business can use AI-generated code. But we should be using it responsibly as much as we possibly can,” he added.
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Coinbase’s AI Ambition
The cryptocurrency behemoth aims to expand use and familiarity with large language models, AI systems that process and generate human-like content.
“In looking across the company, we find that teams that adopt LLMs at a faster rate are building frontend UI features, working with less-sensitive data backends, and quickly expanding their unit testing suites,” Coinbase said in a blog post.
Coinbase revealed that its AI adoption has “rapidly increased” since it started using Cursor, a popular AI-powered code editor. The company was confident that AI would boost productivity “tremendously” in the long run.
A Heavy-Handed Approach?
The ambitious AI push comes after Armstrong admitted to firing engineers who failed to adopt AI tools. He acknowledged his approach was "heavy-handed" but stressed the necessity of AI integration.
Coinbase’s aim to boost AI adoption was consistent with broader industry trends, in which the technology is increasingly viewed as a key tool for productivity and creativity.
Earlier this year, Jensen Huang, CEO of Nvidia Corp. (NASDAQ:NVDA), said that AI will replace mundane tasks, warning that those who ignore AI advancements risk being left behind.
Tech giants like Amazon.com Inc. (NASDAQ:AMZN) and Microsoft Corp. (NASDAQ:MSFT) have also expedited AI integration into their workflows, encouraging engineers to employ AI tools to achieve higher output objectives.
Price Action: Coinbase shares were down 0.25% in pre-market trading after closing 0.41% lower at $302.31 during Wednesday’s regular trading session, according to data from Benzinga Pro.
As of this writing, COIN ranked high on Growth and Momentum metrics. Visit Benzinga Edge Stock Rankings to compare it to the "Mag 7" tech giants.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
