Bird Leveraging OpenAI to Enhance its Bird Risk Engine

The Bird Nest has a suite of risk mitigating tools in its sight

Published in

Bird

3 min readMar 9

In a recent post, the Bird Nest announced the tightening of its focus on creating the best-in-class predictive analytics tools for on-chain identity. After the recent realignment in leadership at Bird, the team is eager to reward the Flock’s loyalty to the Bird brand by taking the most expedient go-to-market route with this choice.

OpenAI for a Better Risk Engine

The Bird Nest is leveraging OpenAI, the widely viral and one of the most cutting-edge artificial intelligence tools currently available to help take its Bird Risk Engine to another level. Of keen interest to the Nest is leveraging OpenAI’s tools use of natural language processing and machine learning to enable us to predict the likelihood of fraudulent activity in digital asset transactions.

We’re currently exploring the possibility of building a one-stop shop tool that can cater to individuals, businesses, and government entities all at the same time.

For the Individual

The recent crash of FTX, the world’s second-largest exchange, makes it critical for individual crypto holders and traders to have more information that helps them make educated decisions on the virtual asset service provider to trust. Trust must go beyond the noise of social media and the hyper-marketing activities of these providers.

We envision a future where anyone can get an up-to-date risk profile analysis of any virtual asset service provider, red flag alerts on new on-chain activities, and warnings on the flow of illicit assets that could expose them to judicial jeopardy.

For Businesses

Tracing the originating source of crypto assets that businesses accept in exchange for goods and services will continue to be extremely important and Bird wants to create accessible tools to help businesses do that. If virtual assets have a shady past or are proceeds of criminal activities such as the hack of exchanges or personal wallets, business owners will have this information at hand. This will help them keep their businesses and their customer lists clean and free from potential liabilities of interacting with fraudulent or nefariously obtained funds.

For Governments

The growing adoption of cryptocurrencies as the choice mode of frictionless international transactions poses a challenge for law enforcement bodies that keep tabs on money laundering and other nefarious activities. The Bird Nest wants to develop cutting-edge multi-chain and multi-asset tools that monitor, review, and alert law enforcement on suspicious transactions.

We’ll continue to keep you in the loop of our thoughts and ongoing developments behind the curtains; we wanted to share this with our esteemed Flock. The Nest takes this opportunity to reiterate its commitment to Bird’s technology, the project and promise that several market-ready products are in the works.