Blockchain analytics company Elliptic said it’s going to use Openai’s Chatgpt to support its intelligence gathering and research. The AI-based language model will allow its experts to speed up and expand the analysis of new risks related to crypto assets.

Blockchain Forensics Firm Elliptic to Employ Chatgpt

London-headquartered Elliptic, a leader in blockchain analysis and crypto-asset risk management, announced the integration of the Chatgpt chatbot into its team’s off-chain intelligence and research gathering efforts.

The company pointed out in a press release that the solutions it has developed leverage a proprietary dataset consisting of more than a decade’s worth of data, “encompassing over 97% of crypto transactions by trading volume, and the largest collection of crypto exchange risk profiles.”

Adding the technology based on artificial intelligence (AI) to Elliptic’s tool set will allow its specialists to concentrate on accuracy and scalability while the large language model (LLM) will be used to organize the data, the firm noted, stating:

With Chatgpt, Elliptic’s researchers and investigators will be able to synthesize and organize intelligence on new risk factors in higher volumes and at a quicker speed than ever before.

“We pride ourselves in being on the forefront of blockchain innovation, and incorporating cutting-edge technologies to enhance how we work,” said Elliptic CEO Simone Maini. “Integrating Chatgpt allows us to scale up our intelligence,” Chief Technology Officer Jackson Hull added.

Elliptic specializes in blockchain analysis and risk assessment on crypto transactions, providing intelligence services to financial firms, crypto businesses, governments and law enforcement agencies. It is backed by investors such as J.P. Morgan and Wells Fargo Strategic Capital.

Developed by the Microsoft-funded AI research laboratory Openai, Chatgpt has been making its way into the crypto space. In March, leading U.S. digital asset exchange Coinbase announced it’s testing the product as a token verification tool.

Do you think applications for Chatgpt in the crypto industry will continue to grow in number? Share your expectations in the comments section below.