Artificial Intelligence Finance Fintech News

Prove AI Launches on the Hedera Network, Bringing New Standard in AI Governance

Prove AI Launches on the Hedera Network, Bringing New Standard in AI Governance

Company formerly known as Casper Labs brings its signature AI governance solution to Hedera under “Prove AI AG”

Prove AI AG, creators of the Prove AI AI governance solution, today announced a strategic shift to build its flagship product exclusively on Hedera. Recognizing Hedera as the ideal distributed ledger technology (DLT) platform for developing and scaling AI governance solutions, Prove AI is focused on enabling enterprises to responsibly and compliantly scale AI technologies by maintaining visibility into and control over the data that trains AI systems. Hedera will support Prove AI’s go-to-market effort via ongoing strategic support.

“Prove AI was built to serve the growing number of organizations that require greater insights into the data that’s training their AI systems – and, critically, the ability to set and enforce permissions to comply with relevant regulations in a way that enables rather than stymies innovation,” said Mrinal Manohar, CEO at Prove AI. “It also provides these organizations with an unprecedented ability to fully audit and provide tamper-proof certifications for AI systems, which increase trust with end customers and regulators. Hedera’s proven commitment to delivering a truly enterprise-grade blockchain environment mirrors our own, which makes them a natural partner as we introduce Prove AI to the broader marketplace.”

Read MoreAP Automation Adoption: The Productivity Paradox

Prove AI offers a powerful suite of functionalities that help businesses safeguard user data while navigating complex regulatory frameworks. By harnessing the security, transparency, and scalability of Hedera, Prove AI enables organizations to:

  • Govern multi-party access to AI training data: Prove AI’s unique account management functionality makes it easy to securely grant and revoke access to all or limited portions of a given event set, all while maintaining the data in a tamper-proof, digital record that logs any changes or attempted changes. This is a critical functionality that increases accountability for both regulators who may need to audit a company’s AI system as well as end customers who need to ensure the integrity of a given dataset(s).
  • Maintain a tamper-proof data store: Thanks to the tamper-proof nature of the Hedera blockchain — coupled with the high degree of serialization for each data point — organizations can efficiently store comprehensive and fully auditable logs of AI training data, with a clear record of ownership and liability, clearly defining who accessed what, and when.
  • Automate compliance: As responsible AI standards continue to be codified by frameworks like ISO 42-1, along with emerging regulations and guidelines, including the EU AI Act and NIST, it’s paramount that organizations are able to gauge their risk levels, and ensure they can check off key compliance mandates, like whether an AI system is exposed to an application with a high or unacceptable level of risk, as defined by third-party legislation.

The Hedera network is governed by a decentralized council of up to 39 organizations, including large enterprises, banks, universities, and nonprofits, ensuring balanced oversight and decision-making. It offers robust infrastructure for AI governance through its public-permissioned model, which offers unmatched transparency, real-time data auditing, and low, USD-fixed transaction fees — all essential for the secure and scalable deployment of AI systems.

“We’re excited to welcome Prove AI to the Hedera ecosystem,” said Charles Adkins, President at Hedera. “While the recent surge in AI adoption brings significant improvements in efficiencies, it also presents inherent risks. Prove AI, as an immutable, tamper-proof database, brings a level of trust to risk management in AI systems, which aligns perfectly with our mission to provide a secure, scalable foundation for builders and enterprises alike.”

The Casper Association recently brought the remainder of Casper core protocol engineering under its direct management and announced new leadership that will spearhead Casper’s transition to a community-led blockchain. This underscores Casper Network’s commitment to protocol innovation, decentralization and mass-market use cases that go well beyond an enterprise software focus. Prove AI AG, formerly known as Casper Labs and initially built on the Casper Network, made the strategic decision to move to Hedera to focus exclusively on the development and enterprise-oriented go-to market strategy for Prove AI.

Read More : Global Fintech Series Interview with Deepak Gupta, EVP of Demand Fulfillment and US Faster Payments Council Board Member at Volante

[To share your insights with us, please write to psen@itechseries.com ]

Related posts

B2BinPay v20 Increases Functionality with TRX Staking and Broader Blockchain Support

Business Wire

Highland Capital Brokerage Acquires Hallett Financial Group And Quotacy

Fintech News Desk

Visa and Marqeta Offer Fintechs a Path to Growth in the World’s Fastest Growing Digital Payments Landscape

Fintech News Desk
1