Using AI and blockchain to make lives better, not as a buzzword: Ana Gallacher

Artificial intelligence (AI) and blockchain are powerful technologies that must be used to make lives better, not as buzzwords to attract investors, says Ana Gallacher.

Gallacher is the founder of BabyReady Finance, a financial platform that helps parents plan ahead for their children’s future by offering rewards, savings plans, and more. On the sidelines of the AI Forge’ Intro to AI and blockchain masterclass,’ CoinGeek Backstage reporter Becky Liggero caught up with Gallacher to talk about how she’s leveraging AI in her startup.

“We help new parents to understand their finances and start saving for their children,” she said.

While not a native AI platform, BabyReady is leveraging the technology to enhance its users’ experiences and offer new products. One application is in financial advising.

“What is amazing about AI is that it helps you to democratize wealth management,” Gallacher told CoinGeek Backstage. She noted that last year, only 5% of U.K. residents had access to a financial advisor, leaving a huge gap.

BabyReady is targeting this market, leveraging AI to “give customers insight about their finances as much as their financial advisor, and allowing them to make smarter financial decisions.”

The masterclass was steered by Nav Kumar from Astroware AI and Richard Boase from BSV Mint, two experts in their respective fields. They delved into the intersection of the two technologies and some areas they could impact the most.

On her takeaways from the masterclass, Gallacher says that she learned it’s important not to rush into either technology.

Integrating AI or blockchain should be from the customers’ perspective, and founders must ensure that the integration benefits the users.

“It’s not just a hype word for your investors,” she said.

She also learned that AI relies on data, and with blockchain, this data can be securely collected and stored, making the two a perfect match.

In order for artificial intelligence (AI) to work right within the law and thrive in the face of growing challenges, it needs to integrate an enterprise blockchain system that ensures data input quality and ownership—allowing it to keep data safe while also guaranteeing the immutability of data. Check out CoinGeek’s coverage on this emerging tech to learn more why Enterprise blockchain will be the backbone of AI.

Watch: AI Forge masterclass—Why AI & blockchain are powerhouses of technology