EY has unveiled new artificial intelligence capacities (AI) for its Analyzer blockchain: smart contract and token review (SC & TR) Tool, considerably improving the efficiency and precision of intelligent contract tests. The updated tool, designed to rationalize the contract review process and strengthen vulnerability detection, should Cut revision times for EY teams by more than 50%.
The SC & TR tool uses AI to automate the complex process of intelligent contract tests, meeting an increasing need for improved safety on the rapidly expanding blockchain market. The tool will be available for customer use in the first quarter of 2025.
The improved SC & TR tool aims to alleviate these risks by improving the depth and precision of contractual tests. Its integrated AI capacities allow greater code coverage, which reduces the chances that vulnerabilities are not detected during manual examinations. The tool automates the key aspects of the examination process, including sandbox simulations and the creation of tests, eliminating manual errors and accelerating the calendar of the deployment of the contract.
“To capitalize on the true value that intelligent contracts can provide, companies must first delete several of the manual processes which are very prolonged and can easily ignore vulnerabilities in the test process. Our Ey Blockchain Analyzer: SC & TR tool testifies to how blockchain and AI can complement each other to automate and improve processes, leading – in this case – more effective intelligent contracts, “said Paul Brody, chief of the overall blockchain EY.
Secure contracts with the blockchain
The integration of AI into the SC & TR tool represents a significant front step for the safety of intelligent contracts. By improving automation and increasing test coverage, EY aims to help customers deploy contracts with greater confidence and greater efficiency in an increasingly complex blockchain environment.
The new AI functionality allows users to simulate and test contracts using Invites in natural language and the advanced tool test. Trained on a large library of existing tests and simulations, the AI -focused system more effectively identifies vulnerabilities, improving the overall results of tests while reducing resource requests. This ensures that customers can achieve Higher precision and faster turnaround time without increasing costs.
One of the main advantages of the SC & TR tool is its ability to automate the identification of the potential weaknesses of intelligent contracts before deployment. Traditional manual journals are often long and subject to human error, but the system powered by AI minimizes these risks by performing Continuous and automated tests In various simulated conditions.
As the adoption of blockchain accelerates in all industries, the need for a deployment of secure and reliable intelligent contracts has never been greater. Intelligent contracts, which are self-executing agreements stored on a blockchain, are increasingly used in Finance, supply chain and decentralized applications (DAPP). A single vulnerability in an intelligent contract can cause significant financial loss and reputation damage.
Understand emerging technologies
Blockchain technology considerably improves security by providing a decentralized framework, resistant to sabores and transparents for the recording and verification of transactions. Unlike traditional centralized systems, where data is stored on a single vulnerable server to hacking, blockchain distributes data on a network of nodes. This decentralization makes a single failure to compromise the system difficult.
Intelligent contracts – Self -executive agreements coded in the blockchain – security by ensuring that the conditions of the contract are automatically applied without the need for intermediaries, which reduces the risk of fraud and human error. In addition, the blockchain transparency Ensures that all transactions are traceable and verifiable
The SC & TR tool allows companies to strengthen their intelligent contractual security posture, improving the probability of successful and secure contractual deployments. By combining the analytical capacities of AI with EY’s expertise in blockchain safety, the SC & TR tool establishes a new standard for intelligent contract tests.
With automation reducing the revision times by half and improving the detection of vulnerability, the SC & TR tool fed by EY is positioned as a vital resource for companies sailing in the growing blockchain landscape. While the smart contract market continues to develop, EY’s strategic investment in AI highlights its commitment to provide innovative solutions that meet the evolution of the digital economy.
What it means for Sapinsiders
Prepare for growth and its associated challenges According to allied market studies, the smart contract market is expected to reach $ 2.5 billion by 2032 at an annual growth rate (TCAC) from 29.6% from 2023 to 2032. This rapid growth includes increased risks, as hidden vulnerabilities in smart contracts can cause significant security and financial loss. Companies will need advanced tools to keep pace and reduce risks.
Adapt to the rise of the blockchain. About 45% of organizations were implementing blockchain technology for a secure exchange of information, highlighting its important role in improving security measures. In addition, an survey said that 42% of companies using blockchain benefit from its security capacities. In addition, 81% of the 100 best public companies in the world have adopted blockchain technology, highlighting its growing acceptance in the business sector. Organizations should prepare for the increase in this technology.
Blockchain and AI – Better together. The decentralized and unchanging nature of the blockchain ensures that the data on which the AI is based is secure and infiltrated. AI models depend on large data sets to improve precision, but poor quality or manipulation of data can distort the results. The blockchain provides a reliable and verifiable data source, guaranteeing the integrity of AI inputs. Technologies such as EY (SC & TR) tool) help meet an increasing need for improved safety on the rapidly expanding blockchain market.
