According to a new report published by the European Blockchain Observatory and Forum (EUBOF) on May 24, the convergence between blockchain and AI is becoming a strong trend in Europe.
EUBOF sees great potential in combining these two technologies, especially in the fields of healthcare and finance, where sensitive data can be securely stored on the blockchain. This combination also creates decentralized AI networks, minimizing data monopoly risks and promoting collaboration in AI development.
The report also points out that AI can improve the efficiency of smart contracts, benefiting many industries. EUBOF predicts the growth of the decentralized finance (DeFi) ecosystem and the birth of new protocols and applications.
To support AI development, Europe also announced plans to amend regulations on the Joint European High Performance Computing Project (EuroHPC). This amendment aims to create new "AI factories", using supercomputers to promote AI development. EuroHPC currently manages nine supercomputers across Europe.
New “AI factories” will continue to advance this mission, with Europe providing financial support of up to 50% of the cost of procuring and operating AI supercomputers for organizations. After five years, ownership of these machines can be transferred to the organizational units after acceptance testing.
Vice President of the Wallonia region and Minister of Economy, Research and Innovation Willy Borsus affirmed: “Unity is the strength of Europe, and together we have achieved great goals. We have seen this with the development of world-leading supercomputers, and now we want to enhance the output of these powerful machines through trustworthy AI.”