Elliptic Uses ChatGPT to Track Cybercriminals
The UK-based crypto analytics firm, Elliptic, has announced its integration of artificial intelligence into its operations. Leveraging ChatGPT, the company has expedited its process of identifying risks linked to cybercrime.
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For starters, it's important to note that Elliptic is at the forefront of risk management associated with crypto asset transactions. The company has trailblazed the blockchain analytics industry, amassing an extensive data pool over a decade, which is instrumental in the analysis of potential threats.
This reservoir of knowledge provides Elliptic with an unparalleled breadth of coverage within the industry. The company purports to capture information on 97% of cryptocurrency transactions in terms of monetary value, therefore boasting the largest database of potential risks for crypto exchanges globally. In particular, it's widely believed that Elliptic delivers an all-encompassing perspective on the risks inherent in cross-chain bridges.
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
said the company's CEO, Simone Maini
In a Twitter post, a blogger who goes by Criptonic Daily also expressed excitement over the news:
“Big news! @elliptic is taking its intelligence gathering to the next level with @OpenAI's ChatGPT. As a professional social media marketer, I can't wait to see the incredible insights that will come from this partnership.”
Elliptic's innovation has delighted crypto enthusiasts. Source: Twitter
By implementing ChatGPT, Elliptic's team can significantly expedite their risk information detection, consequently increasing the data volume they process. While human personnel within the company will concentrate on scaling up their analytics, the extensive language model will neatly categorize the data into relevant ‘shelves'.
“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,” says company’s CTO Jackson Hull.
Put differently, Elliptic plans to utilize ChatGPT as an ancillary tool that refines human-led processes. The company has no plans to let AI operate independently, especially due to the issue of ‘hallucinations' or false information that the large language model occasionally mistakes for truth for as-yet-unknown reasons. The company underscores that they have a specific AI use policy and a robust validation system.
As an organization trusted by the world's largest banks, regulators, financial institutions, governments and law enforcement, it is important to keep our information and data secure…That's why we don't use ChatGPT to add or change data, find information, or track transactions
Elliptic stated
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