Money20/20: The intersection of generative AI and blockchain

FinTech Magazine catches up with Worldpay’s Head of Crypto/Web3 Nabil Manji, on the future relationship he foresees between generative AI and blockchain technology. 

As Manji explains: “The quality of generative AI products and services are going to be determined by two things. One is the access to data these products and services have, the second is the quality of the large language model (LLM), or tech, itself.

“One of the Achilles heels of the modern financial services and fintech ecosystem is that data is still very siloed, fragmented, and inconsistent across currencies, geographies and payment methods.  

“So, you can have the best LLM as a generative AI provider, but if the data is not readily available, this stops you from having a good product or service.

“Where things get interesting comes with the introduction of blockchain. For better or worse, most of the digital assets in blockchain are public, on a single ledger, and therefore, a single pool of data.

“Hypothetically, you would think that the more fintech services built on publicly available ledgers could then be leveraged with generative AI tools to deliver new AI-based solutions for businesses and financial institutions.”

For more from Manji, you can watch the video above or on the FinTech Magazine LinkedIn page.