EU Commission Urged to Prepare for Blockchain and AI Integration
The European Union (EU) is being advised to prepare for the merging of blockchain technology and artificial intelligence (AI). This guidance comes from the European Blockchain Observatory and Forum (EUBOF), an initiative backed by the European Commission. On May 24, EUBOF published a report after monitoring and analyzing blockchain advancements across the continent. This report, crafted by the Directorate-General for Communications Networks, Content and Technology, emphasized blockchain’s ability to merge with other technologies to spur innovation.
One of the key findings from EUBOF’s study is the noticeable trend towards the merging of blockchain and AI. Blockchain’s secure data storage solutions could play a critical role in industries where data security is crucial, such as healthcare and finance. The report noted how AI’s sensitive data sets could benefit from being securely stored on blockchain systems. This merging could also pave the way for decentralized AI networks, which, according to EUBOF, could mitigate data monopolies and foster collaborative AI development.
The report pointed out that AI has the potential to enhance the functionality of smart contracts, making them more applicable across various sectors. The synergy between AI and blockchain could thus revolutionize diverse industries by introducing more efficient and secure automated processes.
The European Commission’s research further acknowledged the there’s been a sustained growth in decentralized finance (DeFi) systems. It foresees the introduction of new protocols and novel applications to support this ecosystem. The report also highlighted that blockchain’s intrinsic features such as interoperability, sustainability, and energy efficiency are likely to be the main drivers behind its widespread adoption.
EUBOF didn’t stop at observing trends but also offered several recommendations. It suggested establishing a global knowledge hub specifically for blockchain. It emphasized the need for Europe to deepen its collaboration with stakeholders and to proactively address challenges that may arise from new technological innovations.
In tandem with EUBOF’s report, the EU unveiled plans to revise the regulations overseeing the European High Performing Computer Joint Undertaking (EuroHPC). This body, responsible for managing a network of nine supercomputers across Europe, focuses on enabling AI development. The planned amendments include the establishment of new AI facilities to enhance this mission.
Willy Borsus, the vice-president of Wallonia and its minister for economy, research, and innovation, lauded the EU’s collaborative efforts. He highlighted Europe’s accomplishments with supercomputers and underscored the intent to further leverage these advanced machines for trusted AI outcomes. Borsus’s comments reiterated that unity is Europe’s strength, driving significant achievements in technological fields.
The proposed changes to EuroHPC’s regulation would also allow hosting entities to receive substantial financial support, covering up to 50% of the acquisition and operational expenses involved in managing AI supercomputers. It would permit these entities to gain ownership of the supercomputers after a five-year period following acceptance testing.
Collectively, these efforts reflect a strategic move by the EU to integrate cutting-edge technologies like blockchain and AI, ensuring the region remains at the forefront of digital innovation. This assimilation aims not only at technological advancement but also at creating a robust framework for ongoing growth and collaboration in these dynamic sectors.
40 thoughts on “EU Commission Urged to Prepare for Blockchain and AI Integration”
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Great to see proactive measures by the EU for tech advancements. Blockchain and AI will reshape the world!
Really skeptical about how secure blockchain will keep AI’s sensitive data. Hacking is just going to get smarter.
EUBOF nailed it with this report! The potential for decentralized AI networks is mind-blowing! 🧠🔐
AI and blockchain merging? Sounds like the future to me! Way to go, EU!
EUBOF’s recommendations are top-notch. A global knowledge hub for blockchain is just what we need!
It’s always the same – big announcements, little to no tangible results. I’m so skeptical about this merge.
Blockchain’s security with AI’s intelligence? A revolution in making! Bravo, EUBOF!
Blockchain and AI are the dynamic duo of the tech world. The EUs efforts will surely pay off!
Future-proofing our data and processes with blockchain and AI. Way to secure the future, EU!
A strategic move by the EU! Blockchain and AI have immense potential together. Can’t wait to see the results!
A fantastic step towards a more secure and innovative future! Kudos to the EU and EUBOF!
Blockchain and AI merging – why does this sound like a dystopian sci-fi plot? We need more practical solutions, not fantasies. 🚫🤡
Amazing advancements coming our way! EU is truly a leader in integrating cutting-edge tech! 🚀🇪🇺
EUBOF’s guidance is a much-needed direction for Europe. Bring on the blockchain and AI revolution!
They’re acting like Europe is just going to magically lead the way in tech because of this. Overly optimistic, if you ask me.
Europe is setting an unmatchable pace in tech innovation. Blockchain and AI are the future! 🚀🌍
Smart contracts powered by AI? This will revolutionize countless industries!
Great, just what we needed. More jargon and hype without any real-world application benefits.🙄
Why is the EU always trying to jump on every tech bandwagon? Just because it’s shiny and new doesn’t mean it’s good! 🤦♂️
The future of secure and efficient processes is here thanks to blockchain and AI! Well done, EU! 🏆💼
Exciting times ahead! EU’s strategic integration steps are commendable!
Brilliant insights from EUBOF! Merging AI and blockchain will change the game in so many fields! 🚀🔍
Incredible report by EUBOF. Blockchain’s secure data storage with AI’s processing power is a match made in tech heaven!
Excellent move by the EU! Integration of blockchain and AI will keep Europe at the forefront of digital innovation!
Sounds like buzzwords to me. Blockchain, AI, synergy… When will they focus on sustainable and realistic goals instead? 🌍
Cheers to a future of secure and intelligent technology! EU’s steps are truly commendable!
Supercomputers and AI facilities? Sounds like we are gearing up for a privacy nightmare.
Smart contracts enhanced by AI? This will make business operations smoother and more secure!
Decentralized AI networks? Sounds good on paper, but in reality, I don’t see it happening anytime soon. Too ambitious!
So excited to see where this leads! Blockchain + AI = Innovation Overdrive! 💡💻
Just because the technology exists doesn’t mean it’s necessary. The EU should not waste resources on unproven tech. 🤦♀️🌐
Applauding EU’s vision for the future. This integration is the stepping stone to global tech leadership! 🎉👑
We’ll probably waste a ton of money on this and get nowhere. The EU should prioritize better things.💸🛑
Who actually thinks the EU can handle something as advanced as AI and blockchain? They’ve messed up simpler tech projects before.
So impressed by the EU’s initiative! Combining blockchain with AI will unlock limitless possibilities!
Kudos to EUBOF and the EU for pioneering blockchain and AI synergy. This is just the beginning!
Exciting prospect of decentralized AI networks! EU setting the gold standard for the world!
More regulations, more complications… Why am I not surprised? Typical EU bureaucracy.
The EUBOF’s insights are spot on! Merging blockchain and AI will revolutionize industries worldwide! 🚀✨
Mixing blockchain and AI sounds like a recipe for disaster. They should focus on fixing current issues before adding more complexity.