Elliptic Has Integrated ChatGPT To Bolster Its Crypto Risk Detection

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Elliptic

Elliptic, a cryptocurrency risk management firm, has recently integrated ChatGPT in order to ramp up its efficiency in detecting multiple crypto-threats, which comes as most of the other firms have reported mixed results.

This risk management firm does provide a risk assessment to crypto users regarding their transactions, exchanges, and wallets. These are also conducted by its team of human researchers that have been utilizing a proprietary data set with decades worth of data. In order to improve the speed and accuracy of identifying new risks, the company has also implemented ChatGPT into its off-chain research and intelligence operations, according to a statement made on 1st June. 

Elliptic Is Going To Use ChatGPT To Detect Crypto Risks

Elliptic noted that ChatGPT allowed the researchers and investigators to tackle new risk factors in far higher volumes and at a far quicker speed than ever before. Jackson Hull, the chief technology officer of the company, also suggested the implementation has the full potential of detecting risks that other human researchers could have failed in recognizing.

There are several other crypto firms that have implemented ChatGPT recently into their operations, which has yielded mixed results. On 3rd May, Crypto.com, a cryptocurrency exchange, went on to launch a ChatGPT-based artificial intelligence user assistant, Amy, that would help inform the users about the industry with real-time token prices, historical events, or projects. 

Apart from Elliptic, another cryptocurrency derivatives exchange, Bitget, cracks have already started being identified in the accuracy of the responses provided by ChatGPT. On 1st June, Gracy Chen, the managing director of Bitget, informed Cointelegraph that while Bitget had been impressed initially by ChatGPT, there were errors that cropped up.