Blockchain and AI

AI and blockchain have become the most talked about topics in the tech world over the past 3 years.

Just to refresh our memories, AI in its simplest form is the term that is used to describe the theory and practice of creating machines that have the ability to perform activities that require a level of intelligence. Machine learning and deep learning are technologies that are about to make this a reality.
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Blockchain, on the other hand, is an innovative filing system for digital information. Data on this system are encrypted and stored in a ledger format. This system of storage and security allows the databases to be tampered with by only with authorization or adequate authority.

As hot topics in the tech world, there has been a lot of contemplation as to what effect AI and blockchain would have on each other. This article would discuss three (3) benefits that are derived when we combine Artificial Intelligence with Blockchain, and also how blockchain would affect AI.
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First let us consider the benefits of combining AI and Blockchain.

Benefits of Combining AI with Blockchain

1 . We can understand AI better with the use of the Blockchain.

With the help of the blockchain, we can understand the way AI “thinks”. Many times, we as humans do not fully understand the reasons for the decisions made by AI. We can understand it now however with the Blockchain.
AI has the ability to assess a large number of variables at a time, unlike humans. This feature had made a lot of companies decide to use AI when they want to check for fraudulent activities in their system. Although AI is to be trusted there are sometimes when a human eye is needed.
This is where the Blockchain comes in. The blockchain can help to keep the information provided by the AI system safe until auditing is about to take place.
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2 . The Blockchain itself is managed better with the help of AI.

Normal computers cannot perform tasks that they are not commanded to perform. This is an extreme limitation considering what AI systems offer. Using the blockchain on this kind of system would mean that a lot of processing power would be used.
With the help of AI, however, tasks are handled in a more intelligent way. Just as a human coder would get better with every code that he or she cracks, an AI system would also become more intelligent as it completes its tasks.
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3 . AI and codes work well.

The blockchain is one of the most secure systems in the world so there is no need to fret when sensitive data is stored on the blockchain. Combining this with AI would mean that while your data is secured, it is also processed to provide you with a lot of great services. For example, think of the number of times you have received ads online regarding a product that meets a specific need you have at the moment.
The Blockchain system of storage is different from others in that the data is in encrypted form, so only the keys must be kept safe for your data to be safe too.
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How Would Blockchain Affect AI?

• Data would be available on an Open Market.

AI systems cannot work without data, as data is what is processed to provide us with information. Although tech giants of the world collect a lot of data on a daily basis, this data is not available to the general public.
With the use of blockchain, that situation is about to change. The concept of peer-to-peer connection on the blockchain system is an easy way of tackling this problem. Since the blockchain is open source system data can be accessed by everyone using the system. This would allow for an open market for data.
Better Security. For occurrences of error or financial disputes to be kept to a minimum while using AI systems, the data has to be highly secure. AI systems are autonomous by nature; therefore it is easy to feed false data into the system.
The blockchain can help to reduce errors to its barest minimum with its high security and encryption system.
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• Data Sharing and Decentralized systems.

The blockchain works in a system of decentralized connected nodes. These nodes work together so as to solve problems or tasks that are presented to the system.
AI also works in a similar fashion. When a problem is presented to an AI system, possible solutions to this problem are tested which then result in the AI making its decision. The best option is picked after all the possible solutions are tested.
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• Ability to handle Data on a large scale.

The AI has the ability to process a large number of data at a time. Most times this calls for the system to rely on the artificial general intelligence ( a subfield in artificial intelligence) which helps it to interact with the data better.
The blockchain is also similar somewhat, except that data on the blockchain is not stored in just one location. So this means that in the instance of a disaster, the data is still well protected.

Final Thoughts

Combining the powers of AI and blockchain would definitely be a leap forward in the advancement of human lives because data would be able to be controlled and stored in ways as never before.

AI and blockchain complement each other so nicely. Whether you want to keep your data, or collect data, or process data, the combination of the powers of AI and blockchain would do you a lot of good. There is not much work available to show what these two can do together, but we are no doubt sure that in the coming years a change would come.
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Enkode Technologies is one of the top software development firms in the USA and is combining these technologies and making it accessible to the markets. Please reach out directly if you’d like to us to quote you on a project!

Visit www.Enkode.co/blog if you’d like to learn about more exciting topics.

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Note: This document with all the information in it is shared here to boost our knowledge of blockchain and crypto ecosystem, the original document can be found in document source, I have on ownership right over the document.

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