AI and blockchain combining forces were destined from the beginning. Although overlap has been minimal, Big Data has since become the joining factor between the two. This makes sense. After all, both are solutions for deriving value from data, so it only makes sense that these two technologies would go hand in hand.
While blockchain is a way to transfer and store data, Artificial Intelligence, more commonly referred to as AI, involves using computers to create human intelligence models that can make predictions on existing data. What makes AI unique is its ability to “learn” and make better decisions over time. This concept is widely talked about, although the application of it might not be as well known.
Combining blockchain and AI can provide a host of benefits. Here are a few of the most common:
- Artificial Intelligence can detect security issues in the blockchain.
In general, security solutions powered by AI can adapt to new threats and learn how to prevent them in the future. Intrusion issues in the blockchain application layer can quickly be detected quickly, and AI can learn how to avoid these incidents in the future. Any failures in the system can also be seen from an AI program.
- With blockchain, AI is believed to become more coherent and understandable.
This is because complex algorithms are used by AI to make decisions, often considering numerous variables that are complicated to understand. Using blockchain technology, we can determine why a particular decision was made on a machine learning program and, if errors are occurring, how the underlying program can be improved.
Since AI programs have yet to be perfected, they still need to be audited by humans to ensure accuracy. Unfortunately, with so much data to consider, this process is long and tedious. Blockchain technology can help sort this data and make it easily digestible for a commonplace user.
- Blockchain and AI can provide secure readings and intelligent analysis.
Although blockchain has found many use cases in the supply chain, solutions can be further levelled up with AI in the mix. Although blockchain can store data from the start to end of the supply chain in a secure manner, AI can help analyze growing patterns and make predictions based on the supply chain’s data. This will take the blockchain from protective to predictive.
- Blockchain can protect user data collected by AI.
AI, at its very core, relies on the inputting of data to feed the program and make it smarter. Unfortunately, this data can at times contain sensitive information. To secure this information, blockchain can be used as a store of data. With a combination of private, invite-only blockchain’s personal data can be restricted in usage.
Additionally, models created by machine learning can be shared from party to party without an intermediary. This can be beneficial for facial recognition technologies uploaded across the blockchain, so virtually any device can know what the person looks like.
- Artificial Intelligence can sharpen the skills of the blockchain.
Currently, computers process data at high speeds. The only caveat is that they need proper direction to perform a task that will be beneficial to the workforce. Unfortunately, programming these tasks can be time-consuming and may result in many “trial and error,” such as is the case for blockchain, where letters are tried until the right fit is made in a hashing algorithm. More human-like decisions can be made through AI and successfully crack new codes or perform tasks more strategically.
Arckadl, home of the Blockchain Session Controller™, has integrated these two technologies in their own space. With a unique hybrid approach to public and private blockchains, artificial intelligence can take decisions and recommendations from blockchain data and provide comprehensive choices to the rest of your network.
To learn more about blockchain and what its implications may look like for your business, we encourage you to follow our journey on Medium.
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