The European Commission urges preparation for the integration of blockchain and artificial intelligence

ChainCatcher news, the European Blockchain Observatory and Forum (EUBOF) is an initiative launched by the European Commission that monitors and analyzes the development of blockchain across various regions in Europe, and released a conclusion report on May 24. The report, written by the Directorate-General for Communications Networks, Content and Technology, emphasizes the potential of blockchain to combine with other technologies and drive innovation.

EUBOF identified a strong trend related to the ongoing integration of blockchain and artificial intelligence. Sensitive AI datasets can be securely stored on the blockchain, which, according to EUBOF, is particularly useful in "healthcare and finance, where data security is crucial." Furthermore, the integration of the two technologies can enable decentralized AI networks. The report adds, "This can reduce the risk of data monopolies and promote collaborative development of AI." EUBOF also concluded that AI can enhance the functionality of smart contracts, applicable across various industries.