Blockchain Analytics, Elliptic, deploys ChatGPT to oversee crypto
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Artificial intelligence (AI) has knocked on the door in a more advanced form than ever. No wonder that many companies are now seeking to take advantage of the cutting-edge technology to improve their operations. Recently, crypto risk management company, Elliptic, reported integrating OpenAI created AI chatbot, ChatGPT, into its systems. The company intends to strengthen its efficiency in the tasks it is known for.
Elliptic announced the integration of ChatGPT, a large language model (LLM), on Friday 2 June via Twitter. It noted that the integration would work alongside “off-chain intelligence and research gathering efforts.”
In a blog post, the company noted that scientists and investigators at Elliptic will use ChatGPT to synthesize and organize intelligence that would be effective in analyzing new risk factors in large numbers, and at greater speed. Adding the technology to organize the data will help make the efforts of the team accurate and scalable.
Artificial intelligence to bring realism to crypto research
Elliptic is considered among the leading blockchain analytics firms in the industry. The company, founded in 2013, works to provide blockchain analytics research to various entities and regulators. Their data helps these entities better track cybercrime and ensure compliance with regulatory requirements within the crypto market.
Recently, a report by Elliptic about Chinese companies involved in fentanyl precursors taking crypto payments caused an uproar all over the place. It noted that drug lords began accepting payments in Bitcoin (BTC)-like cryptocurrencies and are expanding their operations through crypto.
United States Senator Elizabeth Warren cited the report during the hearing and reiterated the need for strict regulations on crypto payments.
CEO, Simone Maini, stated: “We are proud to be at the forefront of blockchain innovation, incorporating cutting-edge technologies to improve how we work without compromising the high standards we are known for are part of our DNA.”
Several entities in the crypto community are reportedly looking to use the ever-growing AI technology. Similarly, Crypto Exchange, Crypto.com, announced an artificial intelligence (AI) helper based on ChatGPT called Amy in early May. The feature will tell users about the industry, real-time crypto asset prices, ongoing and upcoming projects, etc.
In April, Solana Labs announced a feature for Solana network users to interact directly with the network via ChatGPT. However, the launch of the feature is yet to be announced.
Earlier this week, an AI chatbot primarily to act as a Bitcoin GPT, called Talk2Satoshi, was released. The project intends to act as Bitcoin creator Satoshi Nakamoto and answer the questions as if they come directly from him.
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