- Elliptic integrates ChatGPT to enhance crypto threat detection & improve efficiency in risk identification.
- Cryptocurrency firms report mixed outcomes after implementing ChatGPT in their operations.
- Solana Labs plans to enable direct interaction with the Solana network using ChatGPT.
In an effort to enhance its capability of detecting cryptocurrency threats, Elliptic, a firm specializing in risk management for cryptocurrencies, has incorporated ChatGPT into its intelligence and research operations, as stated in a press release on June 1st.
By integrating ChatGPT, Elliptic aims to improve the efficiency and accuracy of its researchers and investigators in identifying new risk factors. This implementation will enable them to handle larger volumes of risks and do so at a faster pace than previously possible.
According to Jackson Hull, the Chief Technology Officer of Elliptic, the integration of ChatGPT has the potential to identify risks that may have gone unnoticed by human researchers.
Our customers come to us to know exactly their risk exposure. Integrating ChatGPT allows us to scale up our intelligence, giving our customers a view on risk they can’t get anywhere else.
In recent times, various cryptocurrency firms have integrated ChatGPT into their operations, resulting in a combination of positive and negative outcomes.
One such instance is cryptocurrency exchange Crypto.com, which introduced an AI user assistant named Amy, powered by ChatGPT, on May 3. Amy assists users by providing real-time information on token prices, industry projects, and historical events.
Although a spokesperson from Crypto.com acknowledged the substantial potential impact of AI in the crypto industry, they also anticipated receiving extensive feedback during the initial stages. This feedback will be crucial in incorporating improvements and enhancements into future updates.
Despite initial positive impressions, Bitget, a cryptocurrency derivatives exchange, has encountered issues with the accuracy of ChatGPT’s responses.
Gracy Chen, the managing director of Bitget, highlighted on June 1 that while ChatGPT performed well in handling routine customer inquiries, it exhibited errors when faced with more complex queries. Chen emphasized that despite being trained on a vast amount of data, ChatGPT occasionally provided misleading, biased, or incomplete information, as evidenced by an internal test conducted recently.
Meanwhile, Solana Labs has announced that users of Solana (SOL) will soon have the capability to interact with the Solana network directly through ChatGPT. An open-source plugin will enable users to check wallet balances, transfer tokens, and purchase NFTs.
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