EU Advised on Blockchain and AI Convergence
Based on advices from the European Union’s Blockchain Observatory and Forum’s reports (EUBOF), it is recommended for the EU to start getting ready for the merging of blockchain and artificial intelligence technologies.
The report from EUBOF stresses blockchain’s possibility to work with other technologies and be an engine of innovation is
EUBOF identifies a significant trend in which blockchain and AI are merging, specifically indicating the secure storage of AI datasets within sectors such as health and finance as one area where it adds value.
Furthermore, decentralized AI networks are considered as an alternative to prevent data monopolization and encourage collaborative AI development in society.
READ MORE: The Ex-CFTC Chair Sees Elizabeth Warren’s Anti-Crypto Stance Losing Ground
Meanwhile, the capacity of AI to enrich smart contracts across industries is also noted in this document. In addition, EUBOF is looking forward to the continuous growth of decentralized finance (DeFi), signaling how important it is for blockchain’s interconnectivity, durability, and power effectiveness.
As the EU announces its plans to revise the rules concerning the Joint European High Performance Computing Initiative (EuroHPC), there is a strong emphasis on enhancing AI development using supercomputers.
The changes being suggested are designed to increase AI effectiveness, and at the same time offer some financial backing to the hosting entities by the EU.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
