Crypto Firm Uses ChatGPT AI Integration to Boost Fraud Detection

Elliptic, a leading crypto asset risk management firm, has integrated ChatGPT, an AI chatbot, in its off-chain intelligence and research gathering efforts to improve operational efficiency. The company aims to enhance data organization and boost intelligence synthesis on new risk factors using the chatbot. ChatGPT is an artificial intelligence chatbot developed by OpenAI, that can scrutinize emails for suspect language, detect anomalies and prevent fraud. Its analytical and automation capabilities could even transform the crypto market and drive the growth and adoption of Web3 and blockchain technology. By integrating ChatGPT, crypto exchanges and platforms can improve their security mechanism, verify investor identities and prevent hacking attempts. Various reports suggest that the chatbot can be integrated into blockchain-based platforms and DApps to create a business-friendly user experience that can drive growth. The move by Elliptic to integrate the AI chatbot comes after multiple crypto firms reported mixed results following their adoption of ChatGPT.