Convergence of Two Major Potentialities: AI and Blockchain
A blockchain is a decentralized public ledger with a growing list of records, called blocks that are linked and secured using cryptography. Also being transaction agnostic, this decentralized technology is appearing in a variety of commercial applications and growing at a rapid pace. On the other hand, serving the purpose of extracting valuable insights from the huge amount of data is the artificial intelligence (AI) technology. It is widely known that AI and blockchain, both individually are transforming industries in their own ways. But the combination of these two technologies can alter various sectors and fuel the industrial revolution 4.0, by recreating economics and information exchange.
From healthcare to government, industries are achieving technological insights and advancements with the seamless blend of the AI and blockchain. While blockchain enables the system security in the healthcare, AI obtains analytics on medical predictions received from patient profiles. This way both the technologies are pushing the healthcare sector towards the concept of precision medicine. Similarly, when put together, the AI and blockchain technologies can provide a higher degree of security during massive breaches and cyber attacks. Some of the other specific areas of the integrated AI-blockchain implementation are smart energy and buildings, public science, self-driving vehicles, e-governance, digital rights and computational finance.
The integration of AI with blockchain has built leverage over the use of data and models and has an enormous disruptive potential across industries. Further, AI and blockchain are considered as the two extremities of the technology spectrum. As one technology fosters centralized intelligence on close data platforms and the other promotes decentralized applications in an open-data environment, finding an intelligent way of collaborating them would positively amplify the overall externalities.