Blockchain has disrupted almost all the business niches and have opened the gateway for the promotion of business ideas by providing a safe and secure platform which ensures data security. It is not the only Blockchain that has created a digital revolution, Artificial Intelligence, Machine Learning, and Big Data are some other popular developments in the filed. Well, if you do a bit of sleuthing on all these technologies, then one factor that is common is DATA. All these technologies rely on data and its interpretation. In this blog, I will be analyzing the synergies between AI and Blockchain.
What Is Blockchain?
It’s a DLT or Distributed Ledger Technology which allows storage of data in chronology. Time-stamping ensures that once the data enter the ledger, it is impossible to delete. Although we cannot completely accept the fact that Blockchain is completely safe and secure, there is a slight possibility of the same. Hence, a continuous transformation is taking place in Blockchain technology that can make it hack-free. For now, let us focus on some of the key features which Blockchain has to offer which makes it establish a synergy with AI.
This is one of the most important features of Blockchain. It means that the data is not stored in a central location, rather its spread across the network. One can easily access the data anytime, anywhere.
This feature of Blockchain makes data tamper-free. It means once the data gets entered in the ledger it is difficult to delete it. Thus making data safe and secured.
Another factor that will make Blockahin contribute to AI is the traceability of data. It means that one can easily trace the data.
It is also important that the platform must be transparent; it means establishing trust between two parties.
How Will Blockchain Be Helpful For AI?
As mentioned above, almost all the new technologies are based on data, and the same goes with AI. We all know that AI is being used to create machines and system perform after interpreting and analyzing the data fed into it. But an important question that arises here is, what is the guarantee that the data that is being fed into the system is trustworthy. Well, this question haunts most of the developers. So, what is the answer for the same? Is Blockchain a solution to this? Let us find it out.
As mentioned above Blockchain allows data exchange while ensuring its safety, security, and transparency. We all know that for efficient working of Artificial Intelligence aided machineries, it is imperative to have data which is true. The problem of data integrity is the biggest apprehension surrounding AI is the integrity of data, and it means whether or not the data that is fed into the system true, unaltered and untampered.
With the integration of Blockchain, we can expect some positive news on this end. Blockchain guarantees that a data which once find an entry in the ledger remain secured. There can be no change and alteration in the same. It will eventually help in feeding a fullproof data into AI aided systems thus producing results which are more authentic and close to reality.
The use of AI is slowly transforming the industry, it is helping in creating systems which can help human in various aspects of life; it can range from personal to professional, thus helping human life.
In the times to come, we will see many such transformations and AI taking over our lives, and to ensure that the new developments are safe and also helpful it will important to have the right data fed into the system which Blockchain guarantees.
Quick Summary On How Blockchain Will Help in AI:
- Better data models
- Smarter financial system
- Intelligent retail
- Digital IP rights
- Innovate audits and compliance systems
- Global verification system
- Mithril – It’s a social media app that allows content creation and engagement on social media worthwhile for users. It is done in the form of crypto. It enables social mining in which the content creator gets the reward for the influence their content crates on social media. It also makes use of AI for its overall functioning.
- Bubblo – This is an AI-based discovery app which makes use of Blockchain and VR to develop a marketplace where users can monetize their personal information for rewards.
The crux of the matter is that Blockchain is not only technology in itself; rather, it also influences other industries. Its integration with AI is just one of the aspects. Studies on Blockchain integration with Big Data and Machine Learning is another aspect which the developers are studying. It all boils down to one fact, the tech world is aiming to create a system which is safe, efficient and transparent, all this will aid in developing solutions that will help in forming a better future, and Blockchain is going to play an integral role in it.