Prove AI Launches On Hedera To Offer Secure AI Training Data Solutions

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As a seasoned researcher with a keen interest in emerging technologies and their potential impact on society, I find the strategic shift of Prove AI to Hedera network quite intriguing. Coming from a background where data security and compliance have always been paramount, this move by Prove AI seems like a logical step towards addressing the growing need for secure handling of training data in AI systems.

AI AG, a company specializing in artificial intelligence (AI) governance solutions, has declared a strategic move to develop their primary product solely on the Hedera network. This transition aims to enhance AI governance by ensuring reliable, secure management of AI training data. The decision stems from the growing use of AI, which heightens the significance of compliance and governance matters.

The system offers organizations essential tools for handling multiple parties’ access to AI training data, automating compliance checks, and ensuring a secure, verifiable, and unalterable data repository.

Prove AI Launches On Hedera To Offer Secure AI Training Data

It’s been established that AI, originally known as Casper Labs, developed a platform on the Casper blockchain network. Nevertheless, they decided to migrate to the Hedera network, citing their preference for a robust enterprise-level blockchain solution and a decentralized governance model.

The Hedera network is overseen by a governing body consisting of as many as 39 prominent entities, such as Fortune 500 companies, academic institutions, and non-governmental organizations.

In the opinion of Mrinal Manohar, CEO of Prove AI, businesses need greater insight and oversight into the data utilized by their artificial intelligence systems. Manohar stated that Hedera’s proven commitment to delivering a dependable, blockchain-based network for enterprises corresponds with Prove AI’s vision. He also mentioned that Prove AI can now utilize Hedera’s features to generate unalterable credentials and automate compliance for AI applications.

Ensuring Compliance with AI Regulations

As international regulations on artificial intelligence become stricter, companies are looking for ways to adhere to the latest standards, like the EU AI Act and ISO 42-1. Our AI platform will automate essential compliance checks, specifically focusing on detecting if AI systems pose high or unacceptable risk to users.

Utilizing Hedera’s hybrid public-private blockchain system, Prove AI offers instant data verification and clear administration for AI datasets, ensuring transparency in their management.

By employing Prove AI, organizations can safely control and rescind access to training data for AI, all while preserving a permanent log of all modifications. This feature fosters transparency with regulators and builds trust among users. The platform’s robust security, facilitated by Hedera’s technology, will assist businesses in sidestepping potential compliance issues and growing their AI operations in a responsible manner.

Hedera’s Role in Artificial Intelligence Governance

Hedera has distributed its decision-making processes and this, combined with its affordable transaction costs, makes it a potential fit for managing enterprise-level Artificial Intelligence applications. Charles Adkins, Hedera’s President, extended a cordial invitation to Prove AI to join the Hedera network, highlighting the importance of risk management as AI adoption expands.

As a researcher, I would express it like this: “I affirm that by establishing an unalterable database within our AI systems, we’re fostering trust and ensuring security – a crucial aspect in our commitment to create a robust and reliable base for businesses.

Moving forward, as Prove AI advances with their AI governance system on Hedera, they aim to add value to businesses by providing transparency for AI training data, thereby encouraging ethical and appropriate application of AI within corporate functions.

After Prove AI’s recent announcement, Hedera’s native token, HBAR, experienced a minor decrease of 2.14%. The token is currently trading at $0.052193 with a 24-hour trading volume of $47 million. Earlier this month, Canary Capital introduced the first U.S.-based HBAR investment trust, fueling discussions about the potential creation of a Hedera ETF. This action could entice institutional investors, potentially bolstering Hedera’s market standing.

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2024-10-23 02:10