On Oct. 22, Chainling announced the results of its industry-wide corporate actions initiative involving major financial players such as Euroclear, Swift, UBS, Franklin Templeton, and Sygnum Bank. Blockchain ecosystem partners included Avalanche, ZKsync, and Hyperledger Besu networks.

The oracle provider successfully demonstrated how artificial intelligence, oracles, and blockchains “can solve a decades-long unstructured data challenge in finance.”

Automating Corporate Actions

The research found that “corporate actions” processing is one of the most complex areas of post-trade operations, with current inefficient processes costing regional businesses $3 to $5 million annually.

Corporate actions are significant events or changes related to securities, such as stocks and bonds, that affect investors. However, automating and standardizing this data could help significantly reduce operational inefficiencies due to errors and manual data processing.

We’re excited to announce the results of an industry-wide corporate actions initiative between Chainlink, Euroclear, Swift, & 6 financial institutions.

We successfully demonstrated how AI, oracles & blockchains can solve a decades-long unstructured data challenge in finance⬇️ pic.twitter.com/4YOT5tX2sr

— Chainlink (@chainlink) October 21, 2024

Chainlink proposed a technical solution that combined three technologies: AI large language models (LLMs), its own decentralized oracle networks (DONs), and multiple blockchains. The AI models it used were OpenAI’s ChatGPT 4, Google Gemini 1.5 Pro, and Anthropic’s Claude 3.5 Sonnet.

It created “unified golden records,” which were verifiable, persistent, and had updatable data containers a