European Commission urges preparation for blockchain and AI convergence

The European Blockchain Observatory and Forum (EUBOF) is an initiative launched by the European Commission to monitor and analyze the development of blockchain in various regions of Europe. On May 24th, EUBOF released a conclusion report written by the Directorate-General for Communications Networks, Content and Technology, emphasizing the potential of combining blockchain with other technologies to drive innovation. EUBOF found a strong trend related to the continuous integration of blockchain and artificial intelligence. Sensitive AI datasets can be securely stored on the blockchain, which is "crucial for data security in healthcare and finance," according to EUBOF. In addition, the fusion of the two technologies can achieve a decentralized AI network. The report added: "This can reduce the risk of data monopolies and promote the collaborative development of artificial intelligence." EUBOF also concluded that AI can improve the functionality of smart contracts and can be applied to various industries.