Home Blockchain Blockchain Analytics Firm Elliptic Integrates ChatGPT to Boost Efficiency

Blockchain Analytics Firm Elliptic Integrates ChatGPT to Boost Efficiency

  • The company has integrated ChatGPT into off-chain intelligence and research activities. 
  • CTO Hull thinks using it might help find vulnerabilities that humans have overlooked.

Despite other crypto companies having mixed results in its deployment. Elliptic, a cryptocurrency risk management business, has incorporated ChatGPT to increase its efficiency in spotting crypto risks.

Elliptic offers crypto customers risk ratings for their purchases, wallets, and exchanges. Human researchers work with a private dataset including “over a decade’s worth of data” to perform these analyses.

Identifying New Hazards

According to a statement released by Elliptic on June 1st. The company has integrated ChatGPT into its off-chain intelligence. And research activities in an attempt to increase the precision and velocity with which new hazards are identified.

It was said that ChatGPT will enable its researchers and investigators to take on novel risk variables “in higher volumes and at a quicker speed than ever before.” Elliptic’s chief technology officer, Jackson Hull, has hypothesized that using it might help find vulnerabilities that humans have overlooked.

Moreover, in recent months, a number of cryptocurrency companies have integrated ChatGPT into their workflows, with varying degrees of success.

On May 3, Crypto.com introduced Amy, a ChatGPT-based AI user assistant. In order to help educate users about the sector. By providing them with information on token values, projects, and historical events in real-time.

Despite the “massive potential implications” that AI might have in the cryptocurrency sector, Crypto.com expects to get a lot of input in the beginning that will be “integrated into future upgrades.” Bitget, an exchange for crypto derivatives, however, has found “cracks” in the reliability of ChatGPT’s answers.

Bitget’s managing director Gracy Chen told that the company was originally pleased with ChatGPT’s ability to handle regular client requests, but that mistakes were discovered when the program was presented with “more complex queries.”

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