Integrating OpenAI’s chatGPT to improve efficiency in the complexly evolving Web3 and cryptocurrency industry
pafin Inc. (Co-CEOs Amin Azmoudeh and Gaku Saito, hereinafter "pafin") has developed pafinGPT using OpenAI's ChatGPT and has started using it in services related to cryptocurrencies such as cryptact – the automated profit and loss calculation service for cryptocurrencies – and defitact – “Your Web3 Sidekick”.
By utilizing advanced AI technology, we will build a framework to provide users with speedy and accurate information, further enhancing support for the complex and rapidly changing cryptocurrency space.
Development background of pafinGPT
The AI market is growing rapidly worldwide, with the compound annual growth rate (CAGR) predicted to be 16.8% from 2021 to 2027, reaching 156 billion USD in 2027(*1). One of the main factors driving this growth is the increasing demand for customer support. In recent years, many companies have been striving to improve customer experience and engagement by using conversational AI instead of email or phone calls.
Our main service provides profit and loss calculation services for tax purposes, detailed asset management, and transaction activity tracking for Web3 activities that include cryptocurrency-related transactions. However, efficiently grasping this complex Web3 and cryptocurrency industry is a very challenging management issue. In particular for customer support, we are responding daily to various inquiries from customers about numerous Web3 activities. To deal with a variety of cases, an efficient system is essential for the team. In the ever-changing cryptocurrency environment, we will continue to promote business efficiency using OpenAI.
(*1) Source: Global Information, Inc. "World Market for Conversational AI"
About pafinGPT
ChatGPT, developed by OpenAI using over 100 million parameters, is an outstanding AI chat that can accurately predict the similarity and implication of relationships between different sentences. We began to utilize this system immediately after the release of ChatGPT in November 2022 and proceeded with the development of pafinGPT with our unique technology and insights. We started to use it as a trial in our engineering tasks from March 2023 and proceeded with its development focusing on training of support agents in the customer support field.
With the introduction of pafinGPT, we have been able to provide the latest and accurate information by analyzing the vast amount of data available on the web about cryptocurrencies, which evolve at an accelerating pace, in response to user inquiries. At the same time, by also using it as data science tool, we can aggregate and analyze the content of inquiries. This has allowed us to develop system strategies that meet customer needs speedily and efficiently.
In the future, we aim to continue providing optimal operations in various business environments by expanding the use of pafinGPT not only in the construction of a customer support system but also in the collection and analysis of financial information, and discovery of noteworthy news.
Current and Future Use Cases of pafinGPT
● Customer support: generating optimal responses
●Sorting and categorizing customer requests
●Generating summaries of daily financial news
Contact for public relations and media/press coverage-related inquiries
pr@pafin.com