Combining Artificial Intelligence and Blockchain Technology

Blockchain and Artificial Intelligence (AI) are two very exciting trends in our world today. The two technologies have highly different developing parties and applications, however researchers in both fields have been on a quest to explore their combination, and it seems they go extremely well together.

AI and encryption work very well together. AI systems handle an enormous amount of sensitive and personal data, while blockchain databases hold information in an encrypted state. Blockchains only require the safety of the private keys which heavily reduces the cost of handling AI data. An emerging field of AI is concerned with building algorithms that can process data while still encrypted. This complements the safety of blockchains, by eliminating the risk of exposure of unencrypted data.

AI systems make complex decisions by assessing a large number of variables. Audits done within the banking or retail industry, for example, still need to be done by humans to ensure accuracy, which is extremely difficult not to mention tiring. If decisions are recorded, on a datapoint-by-datapoint basis, on a blockchain, it makes it far simpler for them to be audited, with the assurance that the record has not been tampered with between the recording of the information and the start of the audit process.

Conventional computers apply brute force when working with encrypted blockchain data and thereby require quite large amounts of computer processing power. AI can perform tasks, like verification of Bitcoin transactions, more intelligently by becoming adept at cracking codes almost instantaneously if fed the right training data.

These are just three ways in which Blockchain and AI can be intergrated to make just that much simpler for us. The theoretical benefits of using these two technologies together is yet to be applied in real life, but this could change soon

However it is impossible to ignore the prospective threat that is AI. Researchers and AI experts such as Elon Musk, are saying that AI could be the biggest existential threat in existence, and that giving this power to one single entity isn’t the best idea. Some have come to the conclusion that decentralizing AI and letting it be designed and controlled by a large network through open-source programming is probably the safest approach to create superintelligence.

Putting the two technologies together has the potential to use data in ways never before thought possible. Data is the key ingredient for the development and enhancement of AI algorithms, and blockchain secures this data.

AI can be incredibly revolutionary, but it must be designed with utmost precautions – blockchain can greatly assist in this. How the interplay between the two technologies will progress is anyone’s guess. The potential for true disruption is there, and rapidly developing.

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