Future of AI Tied to the Future of Blockchain

By CIOReview | Wednesday, July 24, 2019

Blockchain and AI, when merged, can do wonders in a business ecosystem. Integration of these technologies will pace up the way industries have been working.   

FREMONT, CA: AI is the new buzzword in today's world. Cutting-edge technologies aiming to make advanced and reliable machine-level cognition, a reality include artificial neural networks, machine learning, and deep learning. Blockchain, in the meantime, has emerged as primarily, a new filing system for digital information, which stores data in an encrypted, distributed ledger format. As data is encrypted and distributed across many different computers, it enables the creation of tamper-proof, highly robust databases which can be read and updated only by those with permission. There are a few factors that prove that AI and blockchain are made for each other.

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• AI and encryption work well together

Data included in the blockchain is by nature, profoundly secure as cryptography-inherent in its filing system. Blockchains are perfect for storing the highly sensitive, private data which, when smartly concocted, can unlock value and convenience. Healthcare systems make an accurate diagnosis based on medical scans and records. The data which is stuffed into these systems is highly personal. Blockchain databases contain their information in an encrypted state. AI builds algorithms capable of working with data while it is still in an encrypted state

• Blockchain tracks and explains decisions made by AI

Choices made by AIs can sometimes be difficult for humans to understand. This is because they are proficient of assessing a large number of variables independent of each other and learning, which are necessary to the overall task it is trying to accomplish. AI algorithms are required to increasingly be used in making choices about whether financial transactions are deceitful, and should be blocked.

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• AI-Blockchain Efficiency

AI is an effort to move towards a smart and intuitive approach to supervise tasks in a more intelligent, and responsive manner. A machine learning-powered mining algorithm would similarly tackle its job. Rather than having to take a lifespan to become a specialist, it could sharpen its skills if fed the right training data.

Blockchain and AI are technological trends which will ground-break in their rights. They have the potential to become even more revolutionary when put together. These technologies serve to enhance business capabilities while also offering opportunities for better oversight and accountability.