Tuesday, March 19, 2024

Elliptic, a prominent blockchain analytics company, has unveiled its plans to leverage OpenAI’s ChatGPT for bolstering its intelligence gathering and research capabilities. By incorporating this AI-powered language model, Elliptic aims to accelerate and broaden its analysis of emerging risks associated with cryptocurrency assets.

Blockchain Forensics Firm Elliptic Employs ChatGPT

Elliptic, headquartered in London, renowned for its blockchain analysis and crypto-asset risk management expertise, has announced the integration of ChatGPT chatbot into its off-chain intelligence and research operations.

In a press release, the company highlighted the effectiveness of its proprietary dataset, encompassing over a decade’s worth of data, which covers more than 97% of crypto transactions by trading volume, along with the largest collection of crypto exchange risk profiles.

By incorporating artificial intelligence (AI) technology into Elliptic’s toolkit, the company’s specialists can focus on accuracy and scalability, while the vast language model (VLM) will be utilized for data organization. The firm explained:

“With ChatGPT, Elliptic’s researchers and investigators will be able to synthesize and organize intelligence on new risk factors in larger quantities and at an accelerated pace.”

Simone Maini, CEO of Elliptic, expressed pride in their commitment to being at the forefront of blockchain innovation and integrating cutting-edge technologies to enhance their operations. Jackson Hull, Chief Technology Officer, added, “Integrating ChatGPT allows us to expand our intelligence capabilities.”

Elliptic specializes in blockchain analysis and risk assessment of crypto transactions, providing intelligence services to financial firms, crypto businesses, governments, and law enforcement agencies. Notable investors supporting the company include J.P. Morgan and Wells Fargo Strategic Capital.

ChatGPT, developed by OpenAI, a Microsoft-funded AI research laboratory, has been gaining traction in the crypto industry. In March, leading U.S. digital asset exchange Coinbase announced its testing of the product as a token verification tool.

What are your thoughts on the growing applications of ChatGPT in the crypto industry? Share your expectations in the comments section below.

Frequently Asked Questions (FAQs) about blockchain analytics

What is Elliptic?

Elliptic is a blockchain analytics company specializing in blockchain analysis and crypto-asset risk management.

What is ChatGPT?

ChatGPT is an AI-based language model developed by OpenAI. It is a chatbot that utilizes natural language processing to engage in conversations and provide intelligent responses.

How will Elliptic use ChatGPT?

Elliptic plans to integrate ChatGPT into their off-chain intelligence and research gathering efforts. This will enable their experts to analyze and synthesize intelligence on new risk factors related to crypto assets more quickly and at a larger scale.

What advantages does ChatGPT offer to Elliptic?

By incorporating ChatGPT, Elliptic’s researchers and investigators can focus on accuracy and scalability, while the language model organizes the data. This allows them to handle higher volumes of information and accelerate the analysis of emerging risks associated with crypto assets.

Who are the investors backing Elliptic?

Elliptic is backed by notable investors such as J.P. Morgan and Wells Fargo Strategic Capital.

Is ChatGPT being used in other areas of the crypto industry?

Yes, ChatGPT is making its way into the crypto industry. For example, Coinbase, a leading U.S. digital asset exchange, has tested ChatGPT as a token verification tool.

Will the use of ChatGPT in the crypto industry continue to grow?

It is likely that the applications for ChatGPT in the crypto industry will continue to expand as more companies recognize the benefits of AI-powered language models for intelligence gathering, risk assessment, and research purposes.

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5 comments

CryptoEnthusiast123 June 5, 2023 - 4:39 am

Wow, Elliptic is taking it up a notch by utilizing ChatGPT for their intelligence gathering. That’s some serious next-level stuff!

Reply
BlockchainGeek June 5, 2023 - 4:39 am

Elliptic integrating Chatgpt is a gamechanger for their research and risk management in crypto. Can’t wait to see how it scales up their operations!

Reply
TechWizard99 June 5, 2023 - 4:39 am

Elliptic, the blockchain analysis company, now has Openai’s Chatgpt on their team. It’s gonna help ’em analyze crypto risks faster than ever before. Impressive move!

Reply
CryptoWatcher23 June 5, 2023 - 4:39 am

Elliptic is really staying ahead of the curve with this integration. Chatgpt is a powerful tool that’ll boost their intelligence capabilities. Exciting times for the crypto industry!

Reply
CryptoInsider007 June 5, 2023 - 4:39 am

With Elliptic using Chatgpt, their researchers and investigators can handle more data on crypto risks. It’s all about accuracy and scalability. Smart move, Elliptic!

Reply

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