ChainLink (Link) revealed a new initiative aimed at transforming the corporate procedure process, and cooperating with 24 of the world's largest organizations in the wider financial sector.
This partnership, which was announced on Monday, seeks to benefit Artificial Intelligence (AI) To simplify the exhausting and often expensive operations associated with corporate procedures.
ChainLink partners with financial giants to provide billions
According to press releaseChainlink energy -powered solution will allow financial institutions to receive data from organized companies and verify their health in multiple languages directly in their systems within minutes, instead of the days currently required.
It is expected that this global financial industry will provide billions of dollars annually by reducing treatment disorders, reducing settlement errors, speedy reconciliation, and reducing the operational risks facing financial institutions.
Among the main participants in this main initiative Infrastructure for the financial market Such as Swift, DePository Trust & Clearing Corporation (DTCC), Euroclear and Six, along with asset managers and banks such as UBS, DBS Bank and BNP Paribas.
The cost of processing companies at the present time costs the financial industry an estimated $ 58 billion every year, with costs increased by 10 % annually and automated operating rates fails for 40 %.
The most prominent recent report issued by CITI that the average company's work event includes more than 110,000 company interaction and costs about 34 million dollars for treatment, with a large part of the market participants continues to continue Verify manual data.
Future plans
In the first phase of the initiative, ChainLink, Swift, EuroClear, Tude Two Town Naves Chaps Baidens (LLMS) – including GPT from Openai and Google's Gemini – effectively extracting organized data from the work of unorganized corporate work ads.
The second phase presented a new publication, which enhances the speed of corporate procedures data. Through the SAINLONK (CRE) operating environment, multiple Artificial intelligence model outputs It was validated and converted into messages compatible with ISO 20022, which was then published via the fast network.
In addition, the CCIP has enabled the distribution of these records across both the BLOCKCHAIN system from DTCC and the various public and private Blockchain platforms.
This initiative has not achieved almost about 100 % of the consensus of data between artificial intelligence models that were evaluated, but also showed multi -language processing capabilities, and absorbing disclosures in languages such as Spanish and Chinese.
Looking at the future, the team plans to expand this workflow to accommodate the procedures of the most complex companies, such as stock splits, while increasing global coverage through additional states and currencies.
Privacy controls and enhanced governance will be provided to meet operational needs and compliance with financial institutions all over the world. Sergey Nazarov, co -founder of ChainLink, mentioned:
Treating data validation challenges from corporate procedures through AI Oracle Networks is a significant progress, indicating that multiple AIS can unanimously achieve important information within an ollage network.
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