Crypto risk management firm Elliptic has integrated an artificial intelligence chatbot, ChatGPT, to increase the accuracy and scalability of identifying crypto threats, among other crypto firms reporting mixed results of 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 use ChatGPT in its off-chain intelligence and research operations to explore new risk factors in a “completely new way.”
We are very pleased to announce the integration of ChatGPT with our off-chain intelligence and research gathering efforts.
Read the full press release here https://t.co/YV5BYPCjW2#sayud #ChatGPT #blockchain
– Elliptic (@elliptic) June 2, 2023
Accuracy and scalability are the main reasons that Elliptic is integrating ChapGPT, saying that its researchers and investigators will be able to deal with these new risk factors “at a higher in greater numbers and at a faster pace than ever before.”
Jackson Hull, Elliptic’s CTO, noted that its implementation helps uncover unseen risks:
“Our customers come to us to know exactly what their risk exposure is. The integration with ChatGPT allows us to expand our intelligence, giving our customers a view of risk that they wouldn’t otherwise have. where.
Many crypto companies have implemented ChatGPT in their operations in recent times, giving mixed results.
Cryptocurrency exchange Crypto.com launched 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 events. in history.
While a Crypto.com spokesperson told Cointelegraph that AI has the potential for “huge potential implications” in the crypto industry, they expect more feedback from the AI pilot, which will be “integrated into future iterations.” upgrade.”
However, cryptocurrency derivatives exchange Bitget has already found “cracks” after implementing ChatGPT.
Gracy Chen, managing director of crypto derivatives exchange Bitget, previously reported to Cointelegraph on June 1 that while Bitget was initially impressed with ChatGPT’s handling of routine customer inquiries, errors were found when given “more complex questions.”
“Despite being trained on extensive data, ChatGPT sometimes offers misleading, biased or incomplete information, as a recent internal test reminds us” said Chen.
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Meanwhile, Solana Labs announced on April 26 that Solana (SOL) users will soon be able to interact with the Solana network directly from ChatGPT – enabling them to check wallet balances, transfer tokens and buy NFTs – through an open-source plugin made for ChatGPT.
Cointelegraph has reached out to Elliptic for comment.
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