Combining Blockchain and AI to make Smart Contracts Smarter
Blockchain and Artificial Intelligence (AI) are the new giants in technology and two of the hottest topics at the moment. The two technologies are typically considered for separate applications but there is a link: data.
AI allows processing of big data, whereas Blockchain offers security, immutability and decentralised data storage. It makes sense to combine the two technologies to make "Smart Contracts smarter" and to potentially also be a driver of the fourth industrial revolution: Data owners might be able to control their data again by choosing which AI provider to share their data with. Data marketplaces might also be possible, boosting AI applications when combined with Blockchain technology.
The combination of Blockchain and AI might also shake up the legal tech scene and the way lawyers and other legal professionals will be practising in the future. And there are still tons of questions:
- What is the real pace of adoption of Blockchain and AI in law?
- Is national and international law keeping up with market developments?
- How will the new technologies transform law practice?
- Can Smart Contracts enable automatic transfer of assets?
- What digital skills and qualifications do future lawyers need to bring?
All this will be discussed at the panel "Combining blockchain and AI to make Smart Contracts smarter", which I will be moderating at Mindchain 2019 on 21 February in Cluj-Napoca in Romania.
I'm excited to hear what the panellists Christian Piska, professor at University Vienna; Aviya Arika, chief of blockchain at Aviya; and Michael Huertas, partner at Dentons have to say about this fascinating matter.
Author: Thomas Kulnigg