Blockchain and AI: A Perfect Match?

Blockchain and AI: A Perfect Match?

By CFO Tech Outlook | Monday, June 10, 2019

FREMONT, CA: Blockchain and (AI)Artificial intelligence  are two buzzwords that seem to arouse great interest in the technological community today. Whilst both technologies are considered to be futuristic and cutting-edge, there appears to be little in familiar between the two. Today, AI is being sieved through the market chain and has become a consumer product in the shape of virtual assistants. In spite of the great awareness in the field, AI is still lagging behind in the process of amalgamating with other technologies over the decades. There is only one thing that binds both of Blockchain and AI together―data. AI performs by consuming Big Data for training, while Blockchain operates by storing the ingested information.

Integrating AI into Blockchain:

Blockchain technology, being decentralized, performs by creating nodes (separate systems) on a network. Nevertheless, if each node has admittance to data, the security and privacy of the whole data might get in jeopardy. To deal with the security issue, Blockchain encrypts the data before amassing it in the nodes. This works perfect for safety but lays a great obstacle on accessibility. AI works as the faultless solution to this hindrance. Since AI is inanimate, having it obtain the encrypted data does not create a privacy risk. AI can also supply a great interface that decrypts the accessible data in the backdrop while simultaneously providing users with the desired results.

However, there are multiple situations where AI benefits Blockchain. The entire Blockchain arrangement works on gigantic and intricate instruction sets that choose what happens across the nodes. At present, the process of generating and performing these instruction sets is monotonous. However, AI can be taught to carry out these instruction sets with optimal efficiency, thus enhancing the functioning of Blockchain to a certain degree.

Assimilating Blockchain into AI:

AI models go through extensive training procedures to generate the right answers. But little is known about how exactly the transition took place. Blockchain can immensely aid in that regard. Since Blockchain spread across networks, there is no actual limit to how much data it can store. When Blockchain is incorporated into AI, it can stockpile the information of each training process, including details. This databank can actually become a hit in demystifying AI and constructing vast developments in the creation of intelligent machines.

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