SHA256X2 on Nostr: MIT's Weber counters that money laundering investigators have always used algorithms ...
MIT's Weber counters that money laundering investigators have always used algorithms to flag potentially suspicious behavior. AI-based tools, he argues, just mean those algorithms will be more efficient and have fewer false positives that waste investigators' time and incriminate the wrong suspects. “This isn't about automation,” Weber says. “This is a needle-in-a-haystack problem, and we're saying let's use metal detectors instead of chopsticks.”
As for the research impact that Savage expects, he argues that even beyond blockchain analysis, Elliptic's training data is so voluminous and detailed that it may even help with other kinds of AI research into analogous problems like health care and recommendation systems. But he says the researchers do also intend their work to have a practical effect, enabling a new and very real way to hunt for patterns that reveal financial crime.
“We're hopeful that this is much more than an academic exercise,” Weber says, “that people in this domain can actually take this and run with it.”
https://www.wired.com/story/ai-crypto-tracing-model-money-laundering/
As for the research impact that Savage expects, he argues that even beyond blockchain analysis, Elliptic's training data is so voluminous and detailed that it may even help with other kinds of AI research into analogous problems like health care and recommendation systems. But he says the researchers do also intend their work to have a practical effect, enabling a new and very real way to hunt for patterns that reveal financial crime.
“We're hopeful that this is much more than an academic exercise,” Weber says, “that people in this domain can actually take this and run with it.”
https://www.wired.com/story/ai-crypto-tracing-model-money-laundering/