Blockchain Analytics, Elliptic, Deploys ChatGPT to Watch Over Crypto

Artificial Intelligence (AI) has knocked on the door in a more developed form than ever. No wonder many companies are now seeking to leverage the cutting edge technology to enhance their operations. Recently, crypto risk management company, Elliptic, reported to integrate OpenAI created AI chatbot, ChatGPT, in its systems. The company intends to bolster its efficiency in the tasks it is known for.

Elliptic announced the integration of ChatGPT, a large language model (LLM), on Friday, June 2 over Twitter. It noted the integration would work along with the “off-chain intelligence and research gathering efforts.”

In a blog post, the company noted that researchers and investigators at Elliptic will use ChatGPT for synthesizing and organizing intelligence which would be efficient in analyzing new risk factors in a large number, and with more speed. After adding the technology to organize the data, it will help in making the efforts of the team accurate and scalable.

Artificial Intelligence to Bring Realism in Crypto Research

Elliptic is counted within the leading blockchain analytics firms across the industry. The company, founded in 2013, works towards providing blockchain analytics research to different entities and regulators. Their data helps these entities for better tracking of cybercrimes and assures regulatory compliance within the crypto market.

Recently, a report from Elliptic about Chinese companies involved in fentanyl precursors taking crypto payments made commotion all over. It noted drug lords starting to accept payments in Bitcoin (BTC)-like cryptocurrencies and expanding their business through crypto.

The United States Senator, Elizabeth Warren, cited the report while hearing and reiterated the need for strict regulations of crypto payments.

Chief Executive Officer, Simone Maini, stated, “We pride ourselves in being on the forefront of blockchain innovation, and incorporating cutting-edge technologies to enhance how we work without compromising the high standards for which we are known is part of our DNA.”

Multiple entities in the crypto community are reportedly looking for using the constantly growing AI technology. Similarly, Crypto exchange, Crypto.com, announced an artificial intelligence (AI) user assistance based on ChatGPT dubbed Amy in early May. The feature would let users know 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 directly interact 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 Bitcoin GPT, dubbed Talk2Satoshi, was released. The project intends to act as Bitcoin creator Satoshi Nakamoto and answer the queries as if they are directly coming from him.