Swift, UBS, Euroclear and Chainlink Partner on Corporate Actions Data Initiative

The announcement says the group is working on a solution aimed at the more than $58 billion annual corporate actions challenge while also seeking to reduce large language model errors in enterprise AI use.

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Summary

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Terms & Concepts
  • Chainlink: A blockchain oracle network that connects smart contracts (self-executing blockchain code) with external data and systems.
  • Corporate actions: Events such as dividends, stock splits, or mergers that require updates to securities data and investor records.
  • Large language model hallucinations: Incorrect or fabricated outputs generated by AI systems when they present inaccurate information as fact.