Prove AI, a provider of AI governance solutions, has announced a strategic shift to develop its flagship product exclusively on the Hedera network. This transition aims to enhance the governance of AI by ensuring the secure and transparent management of AI training data.
As the use of AI continues to grow, there is an increasing emphasis on compliance and governance. Prove AI's platform will equip organizations with the tools to automate compliance, administer multi-party access to AI training data, and maintain an auditable, tamper-proof data store.
Transition from Casper to Hedera
Previously developed on the Casper blockchain network, Prove AI chose to relocate to Hedera due to its enterprise-grade blockchain solution and decentralized governance. Hedera is governed by a council of up to 39 prominent institutions, including Fortune 500 corporations, universities, and non-profits.
Prove AI's CEO, Mrinal Manohar, emphasized the need for organizations to have increased visibility and control over the data fed into their AI systems. He stated that Hedera's commitment to establishing a reliable, blockchain-based network for enterprises aligns with Prove AI's vision.
Guaranteeing Adherence to AI Regulations
In response to the growing global regulatory scrutiny of artificial intelligence, businesses are seeking solutions that ensure compliance with emerging standards like the EU AI Act and ISO 42-1. Prove AI's platform will automate critical compliance checks, including monitoring whether AI systems expose users to high or impermissible levels of risk.
By leveraging Hedera's public-permissioned blockchain model, Prove AI offers transparent governance of AI datasets and real-time data auditing. Organizations implementing Prove AI will be able to securely manage and revoke access to AI training data while maintaining an immutable record of all modifications. This ensures accountability for regulators and fosters trust among end users.
Hedera's Contribution to AI Governance
Hedera's decentralized governance and low transaction fees make it a suitable option for the governance of enterprise-level AI solutions. Charles Adkins, President of Hedera, welcomed Prove AI into the ecosystem, emphasizing the importance of risk management in the context of growing AI adoption.
Future Outlook
Prove AI plans to further advance its AI governance platform on Hedera, assisting companies in providing traceability of AI training data and promoting the responsible use of AI in business operations.
Impact on Hedera Token
Following Prove AI's announcement, Hedera's native token, HBAR, experienced a minor decline of 2.14%. However, the recent launch of the first HBAR trust in the United States by Canary Capital has generated speculation regarding the potential for a Hedera ETF, which could further solidify Hedera's market position.
October 2024, Cryptoniteuae