EU Allot Massive Fund for Blockchain Technology & AI Development


The European Union has recently announced a fund size of 110 million euro to aid the research and development of artificial intelligence and blockchain at a time when issues like privacy, security and artificial intelligence are the focus of the government and of their general public. Blockchain technology has the potential to change the way the world operate, how industry look and handle data and even change the way artificial intelligence deal with the data to operate and makes automation  a much easier and a fast approaching revolution. It has the potential to create a world and build an ecosystem where the benefit of data and AI is distributed broadly across various stakeholders including the professionals who generate those data. But there are still some problems like the technical difficulties to be solved in order to manifest this potential as well as a lot of large scale software engineering. Blockchain is the technology that has been the important factor but the question remains as is the funding is enough or not.

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The artificial industry in the West has been in the nascent stage and is dominated by relatively small number of large players who are mostly based out of United States. The organizations have been providing the AI services to their customers with free or discounted services in exchange for relatively unfettered use of their data. By using the data the organization has been able to build an effective advertising machines which helps in influencing the decisions to about purchasing, political campaign and anything else.

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These large corporations have numerous collaborations initiatives with the government some of which are very private and are confidential. The pact between Google and NSA is an example of such confidentiality agreement and another such hush hush deal that was revealed and disclosed last year was between Facebook and Cambridge Analytica.

Source: Coin Telegraph

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