Researchers from the European Union (EU) have identified a promising trend: the convergence of blockchain technology and artificial intelligence (AI).
Benefits of the Blockchain-AI Combo
According to the EU’s Blockchain Observatory and Forum (EUBOF), blockchain and AI can complement each other in several ways:
- Secure and Transparent Data for AI: Blockchain can safeguard AI data, ensuring its integrity and privacy. This is crucial in fields like healthcare and finance, where data security is essential.
- Decentralized AI Networks: Blockchain can enable AI models and data to be distributed across a network, reducing the risk of data monopolies and fostering collaboration.
- Smart Contracts Enhanced by AI: AI can make smart contracts more sophisticated and adaptive, leading to more efficient and automated processes in various industries.
Other Emerging Trends
In addition to the blockchain-AI convergence, EUBOF predicts other trends in the digital asset space:
- Growth of Decentralized Finance (DeFi): DeFi platforms will continue to expand, offering financial services without intermediaries.
- Interoperable Blockchains: More blockchains will adopt interoperability features, allowing seamless asset transfers between different networks.
- Sustainable Blockchain Solutions: There will be an increasing focus on developing blockchain solutions that are environmentally friendly.
