Amalgamation of AI and Blockchain | The Next Big Deal

AI involves both the practice and the theory of building a machine that can perform operations that will need intelligence. Researchers work every day on the latest technology and innovation based on AI, artificial neural networks, and machine learning.

Blockchain adds a security layer to the computer system. You can get the opportunity to store data in encrypted form. Those data can be read and can only be updated with permission.

Researchers have written much about the theory of the AI. However, they spend very few words on the AI-based real-world applications. Hope this situation will improve in the mere future.

AI and blockchain are co-related with each other. This article will show you the relation between AI and blockchain in details.

AI and Blockchain

All You Need To Know About AI and Encryption

Blockchain has an in-built cryptography feature which ensures safety and security of data that it holds. So, blockchain is an ideal platform for storing highly sensitive data. For example, Amazon or Netflix using the blockchain simplifies the recommendation engine. Thus they can know what we like to buy. Also, smart healthcare systems with help of blockchain can make accurate scans and diagnosis.

Companies, first of all, collect data from us. Then they optimize those according to their needs. Also, there is a chance of data breach. Hackers can steal all the personal data and can use them to perform illegal deeds.

All the data are stored in the blockchain database in encrypted form.  Now here AI needs to do the hard work. Though blockchain offers high-level security to the data still hackers can evade through certain loopholes. Effective AI algorithms can help to secure data from all angles.

AI Helps in Decision-Making, Blockchain Helps in Tracking and Explaining Decisions Made by AI

AIs are capable of making decisions which even humans fail to interpret. AIs can assess a large number of variables which are independent of one other and can set priority for all those variables.

AI algorithms are even smarter to detect any fraudulent financial transactions. based on that you can block those websites with the aid of AI algorithms.

If you want, you can record the decisions on a datapoint-on-datapoint basis on the blockchain, it becomes quite easy to audit. In the meanwhile, you will have to make sure that the record is not tempered.

AI and blockchains have so many to offer. But can blockchain and AI be trustworthy? Record the decision-making process and closely monitor whether the solutions you receive achieve the level of transparency or not.

AI is Smarter Than Humans

Traditional computers are super fast but not super smart. You will have to input instructions for the computers to work on. However, if you use all these computers for blockchain operations, those operations will consume a lot of processing power. You will have to try out several combinations of characters until you find out the one which fits your transaction.

AI can assist you to get rid of the brute force approach. It lets you think in a more intelligent way.

Both AI and the blockchain are the latest technology trends. Researchers must amalgamate both the two for the betterment of our society, culture, and environment.

That is pretty much about the AI and blockchain. Hope the article helps you to understand the potential benefit of them.