Cryptographic risk management company Elliptic has integrated ChatGPT to increase its accuracy and speed in detecting cryptographic threats — a move that comes amid other crypto companies reporting mixed results with their implementation.
Elliptic provides blockchain analytics for crypto-asset compliance and assesses the risks associated with crypto wallets, virtual asset service providers, and crypto transactions.
According to June 1 statementwill use Elliptic ChatGPT in its off-chain intelligence and research operations to explore new risk factors in a “completely new way”.
We are very excited to announce the incorporation of ChatGPT into our off-chain information gathering and research efforts.
Read the full press release herehttps://t.co/YV5BYPCjW2#You know exactly #chatjtb # Blockchain– elliptical June 2, 2023
It was noted that the main reasons for integrating ChatGPT were to improve accuracy and scalability. Elliptic believes it will allow researchers and investigators to address these new risk factors “in greater volumes and more quickly than ever before.”
Elliptic CTO Elliptic Jackson Hull stated that its implementation will help uncover unseen risks:
Our clients come to us to find out exactly how much they are exposed to. Integrating ChatGPT allows us to increase our level of intelligence, giving our customers an overview of risk they can’t get anywhere else.”
Several crypto companies have implemented ChatGPT in their operations recently, with mixed results.
Cryptocurrency exchange Crypto.com launched ChatGPT-based AI user assistant Amy on May 3, in an effort to help users inform users about the industry, including real-time coin prices, projects, and historical events.
While a Crypto.com spokesperson told Cointelegraph that AI has the potential to have “tremendous potential impacts” on the crypto industry, they expect a lot of feedback from this AI pilot program, which “will be incorporated into future upgrades.”
However, cryptocurrency derivatives exchange Bitget has already identified “cracks” in the accuracy of ChatGPT responses.
Gracie Chen, managing director of cryptocurrency derivatives exchange Bitget, told Cointelegraph on June 1 that while Bitget initially liked ChatGPT for handling routine customer inquiries, errors were spotted when making “more complex inquiries.”
Chen noted, “Although trained on extensive data, ChatGPT sometimes provides misleading, biased, or incomplete information, as reported by a recent internal test.”
Related: OpenAI is committing $1 million to support AI-driven cybersecurity initiatives
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 purchase NFTs — through an open source plugin built for ChatGPT.
Solana Labs has not yet announced when this feature will be available to the public.
Cointelegraph has reached out to Ellipti for comment but had not received a response by the time of publication.
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