Odaily Planet Daily News Data provider Chainlink (LINK) announced on Monday the launch of an initiative with major financial market participants like Euroclear, Swift, and Franklin Templeton to leverage artificial intelligence and blockchain technology to make corporate action data more accessible and standardized. The project aims to address long-standing challenges in the financial sector, as reported by Chainlink, due to the lack of standardized and real-time data on corporate actions, such as mergers, dividends, and stock splits, which are highly fragmented in markets like Europe. Automating and standardizing this information can significantly help reduce inefficiencies, with current operational inefficiencies caused by errors and manual data processing costing companies millions of dollars annually, as investors typically rely on this data. The first phase of the plan focuses on corporate action data for stocks and fixed income securities in six European countries. Chainlink connects its decentralized oracle to large language models (LLMs) such as OpenAI's ChatGPT, Google's Gemini, and Anthropic's Claude to extract corporate action data from various sources and convert it into a structured format called 'Golden Records' that complies with global financial standards like ISO 20022 and Securities Market Practice Group, then uses Chainlink's Cross-Chain Interoperability Protocol (CCIP) to publish and distribute data across different blockchains. (CoinDesk)