Elliptic integrates ChatGPT to bolster crypto risk detection
Crypto risk management firm Elliptic has integrated ChatGPT to ramp up its accuracy and speed in detecting crypto threats – a move which comes amid other crypto firms reporting mixed results in its implementation.
Elliptic provides blockchain analytics for crypto asset compliance and assesses risks associated with crypto wallets, virtual asset service providers and crypto transactions.
According to a June 1 statement, Elliptic will be utilizing ChatGPT in its off-chain intelligence and research operations to explore new risk factors in an “entirely new way.”
We’re very pleased to announce the integration of ChatGPT into our off-chain intelligence and research gathering efforts. Read the full press release herehttps://t.co/YV5BYPCjW2#knowexactly #ChatGPT #blockchain
It was noted that the primary reasons for integrating ChatGPT was to improve accuracy and scalability. Elliptic believes it will allow researchers and investigators to tackle these new risk factors “in higher volumes and at a quicker speed than ever before.”
Jackson Hull, the CTO of Elliptic, stated that its implementation will assist in exposing unseen risks:
Several crypto firms have implemented ChatGPT into its operations in recent times, yielding mixed results.
Cryptocurrency exchange Crypto.com launched a ChatGPT-based AI user assistant, Amy, on May 3, in an effort to help inform users about the industry, including real-time token prices, projects, and historical events.
While a Crypto.com spokesperson told Cointelegraph that AI has the potential for “massive potential implications” in the crypto industry, they expect a lot of feedback from this AI pilot, which will be “integrated into future upgrades.”
However, cryptocurrency derivatives exchange Bitget has
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