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Virtual Data Rooms (VDRs) are an indispensable tool for secure document sharing in critical business processes such as due diligence and mergers and acquisitions. With the involvement of AI, machine learning, blockchain, and other technologies, VDRs are undergoing a massive evolution in terms of security and collaboration. AI can be used to automatically tag and categorize documents, read and summarize lengthy documents, and enhance the security of the VDR. Blockchain technology can be integrated to provide enhanced security and transparency, as well as contract automation. Decentralization of data storage and access control will reduce the risk of data breaches and aid digital transformation.