On October 22, Chainlink announced the results of its corporate actions initiative in cooperation with financial players like Euroclear, Swift, UBS, and others. The project demonstrated how AI, oracles, and blockchains can solve a longstanding unstructured data issue in finance.

Automating Corporate Actions

The research found that processing 'corporate actions' is one of the most complex areas of post-trade operations, with inefficient processes costing regional businesses $3 to $5 million annually. Automating and standardizing this data could significantly reduce operational inefficiencies due to errors and manual processing.

Chainlink's AI and Blockchain Synergy

Chainlink proposed a technical solution combining AI, its own decentralized oracle networks, and multiple blockchains. By using AI models like OpenAI’s ChatGPT 4, Google Gemini 1.5 Pro, and Anthropic’s Claude 3.5 Sonnet, it created 'unified golden records' verified through a two-level consensus system.

LINK Token Price Outlook

Chainlink’s native token, LINK, is trading flat at $11.85 following the market retrace on October 21. LINK has changed little over the past month and remains 78% down from its May 2021 all-time high of $52.70. By late September, Chainlink partnered with Australian bank ANZ in a real-world asset tokenization initiative.

Chainlink continues its integration with the ecosystem and traditional financial institutions, which analysts believe could reduce costs and increase market efficiency. However, it is necessary to address standardization and legal liability issues associated with AI use to achieve this.