Blockchain and artificial intelligence: great tandem or hype?
Discussions about technologies that generate strategic business breakthroughs rarely touch on such intriguing topics as the use of multiple new technologies at the same time in interaction to achieve synergistic effects. However, as reality has shown, the effects of such integration frequently far exceed expectations. Indeed, both blockchain and artificial intelligence (AI) is radically altering the direction of modern business and breathing fresh life into it by providing whole different rules for generating value. However, their collaboration has the potential to have a significantly greater impact on the financial sector. In the article, we will discuss how blockchain can complement AI technology.
First of all, the aggregation of various models and data on the network will aid in the development of general artificial intelligence, a notion that holds that machine intelligence will eventually transcend human intelligence. Developers may design a comprehensive system that can execute not only one specialized function but many diverse operations. It will bring closer to human intelligence by mixing machine learning algorithms, training data, and continually adding new features to the blockchain.
AI and blockchain have separate histories, backgrounds, and evolutionary routes, but they share many similarities. Both technologies have evolved into solutions to modern-day problems. Because of the centralized nature of data and AI models, neither businesses nor the general public can fully trust AI algorithms. Their obscurity stifles the proliferation of intelligent systems and presents numerous moral and ethical concerns. However, as firms that are already adopting blockchain store increasingly complex collections of essential data in their distributed ledgers, there will be a growing need for deeper analysis that AI can deliver. Simultaneously, AI ensures that payments to participants in the business process are made in a timely and honest manner.
In terms of environmental issues, experts can use blockchain and smart contracts to control the cleanup of greenhouse gas emissions effectively. Blockchain and AI could be the combined technology that saves the world from a climate disaster and allows humanity to manage natural resources far more efficiently. Assume that solar plant X generates a particular amount of renewable energy every 24 hours. The Smart Contract evaluates this data and then grants a quota permit based on the information obtained. All information is subsequently transmitted to the blockchain, allowing permits to be tracked much more precisely.
In general, we can define such benefits blockchain can bring to the AI systems:
● With the decentralization and broad adoption of blockchain-based systems, the flow of data into AI will increase, assisting in the creation of better models.
● Sharing and transparency will make it easier for various (remote) AI players to have access to training datasets, real-world data, and models.
● Critical data integrity and guaranteed immutability will provide dependable support for AI datasets and models.
In conclusion, blockchain has the potential to restore and strengthen trust in AI. Furthermore, the usage of distributed networks will elevate technology to a new level, bringing developers and academics closer to understanding how algorithms make decisions. Trust, transparency, and decentralization usher in a new era of developing dependable and secure applications that can improve people’s lives.
The crypto industry never stops amazing us with its constant innovations and technologies. Therefore, it is so easy to miss something and let the crypto market confuse you. To prevent this, the first European crypto trading platform bit4you designed the education section crypto Academy. There, you will find plenty of useful information that is dedicated to a wide variety of topics related to the crypto sphere. In addition, you can test as many trading strategies and understand the market without taking any risks with the bit4you Demo mode by getting $100 000 of virtual funds on your account. Make use of the European bit4you trading platform and be assured that you will receive the most comprehensive variety of services such as buying, selling, trading, and exchanging crypto with 25 assets, as well as wallet management. Do not hesitate to start your fascinating crypto journey with bit4you!
Valentina BEREZA, Team bit4you
