Blockchain In Artificial Intelligence

Blockchain In AI

We all are hoping for the next generation of technology, and we are having more expectations on the world's digital transformation which is gonna be the fourth industrial revolution. Digital transformation in the sense, making everything digital, automatic, and hence systematic too. To empower this future technologcial changes and evolutions, blockchain has become the only hope for everyone. Blockchain revamps industries, blockchain revamps businesses, and now blockchain revamps the technologies too. 

The most promising technologies that are expected to lead the world’s fourth industrial transformation are Artificial intelligence, big data, IoT, Deep Learning, AR and VR. This power of this technology avengers has been swelled and spiraled into multiple branches with the arrival of Blockchain. 

We already have discussed how artificial intelligence is working in bitcoin and blockchain technology, check it out here. 

Now it's time for us to examine what is the use case of blockchain in AI? And How blockchain can revamp the AI.

How Blockchain Can be Used in AI

Introduction to AI

We can identify the evolution of artificial intelligence as like this. 

Manpower, Machines, and now artificial intelligence. 

Before the artificial intelligence arrives, we all had a strong belief in manpower, so everywhere and everything has been done manually. The fast-growing nature of the world, didn't give us time to accomplish millions of works, only by believing in the power of humans. The population has grown drastically, works to be done by industries has grown dramatically, so to complete everything on time, it was not a perfect choice to believe only human power. Hence we have pushed into the obvious situation, to automate everything with machines. 

When we try to automate everything, there should be proper communication passed inside the network to plan and execute the works. It is clearly, indicates that to complete a task perfectly, quickly and on time, the transformation of data should be clear, fast and on time too. To lift and to power up this concept, Artificial intelligence has come with a bang, and have created a huge influence on industries. AI can streamline the industrial processes, with proper automation, 

AI has already gained a mammoth growth with speech recognition, facial recognition, humanoid robots, self-driving cars and much more. But, still, the data transfer in AI has to be streamlined and to be tightened with more security. 

Hence blockchain becomes the hope for artificial intelligence. As blockchain and AI are working on the same principle of analyzing data, we believe this pair could revoke the tribulations of AI. AI-powered with blockchain technology can lift it to the more technology revivals. Let’s check it out below

Tech bits: 30 Percent of Jobs will be automated by 2030. 44 percent of people who have low education will be undetermined about their job security.

Blockchain Use Cases in AI

Every top brands and business are started to use AI accompanied by data science to improve their customer experience. Like Google, Amazon, Facebook, and Apple are already using AI for the betterment of their business, and to suggest products by understanding customer behaviors with deep learning. Apart from this let us check how blockchain is favoring the AI with immense use cases.

Source: cointelegraph

According to Paul Lee, the CEO of Mind AI, Blockchain plays an essential role in making data management a completely decentralized one. 

Why we have denoted the above statement of paul lee is, 90% of use case in the blockchain completely relies on the data management. 

• Decentralization

The use of centralized cloud storage can be demolished by the blockchains decentralization concept. So there is no central authority can control your data while those are stored in the blockchain. Since blockchain is distributed and decentralized copy of processed data will be distributed to all the nodes of the network. So, if any of the nodes is compromised there is no possibility to hack the entire data. Blockchain neglects the use of centralized cloud storage.

• Increases Tracking Power

In general, AI is a machine intelligence requires human intelligence-powered computer systems. Decisions taken by AI Bots are difficult to be understood by humans, but with the help of blockchain, we can track the thinking process and can help us to understand the decision made on processed data. 

• Improves the Computing

Though AI Bots are powered by machine intelligence they can’t execute a task without actually getting explicit instructions from outside.

• Security & Privacy

Blockchain with AI can improve security in storing and retrieving the data. AI Is not revamping only one sector, but revamp many industries including health sectors. An AI-powered company DeepMind, already using blockchain to improve the security level of user data. 

• Scalability

Blockchain with AI can use federated learning a new type of decentralized learning model to increase the data storage and keep secure the entire system an efficient one.

 

Reference : 

1. Convergence Of AI And Blockchain
2. The Future of AI tied to the Future Of Blockchain

Likewise, we can list up to N number of use cases while interpreting blockchain with AI. Blockchain and AI can power up each while connecting them for industrial usage. Each gets the positivity from the other side, hence the system that powered with blockchain and AI becomes more robust. 

AI and Blockchain-Powered Current Applications

1. SingularityNET - Decentralized Marketplace For AI Algorithms
2. DeepBrain Chain - Non-Profit Distributed AI Platform
3. Peculium - Investment Management 

Conclusion 

As a leading AI Development Company, we help industries to shine with blockchain & AI technology, and most especially we undergo for the deployment of blockchain in various technologies. We at bitdeal - a blockchain development company, having a team of blockchain developers who can help you to fulfill all your requirements in developing and deployment of private blockchain implementation.

 

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