HOW BLOCKCHAIN AND ARTIFICIAL INTELLIGENCE ARE REVOLUTIONIZING THE FUTURE

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Blockchain and AI

INTRODUCTION

Do you realize how remarkable the fusion of AI and Blockchain technology is? 

So naturally, this refers to finding a solution to some global issues, such as the health sector’s flaws and the few restrictions each system has on its operations. 

Both blockchain technology and AI development are leading technologies in almost every area and, when combined, prove to be a powerful combo.

Blockchain and artificial intelligence must be integrated because they both deal with data and value, and together, they can enhance the performance of a machine learning algorithm. 

In addition, AI evaluates and extracts value from data, while Blockchain enables secure data storage and exchange. 

Both technologies increase one another’s capabilities and mutually benefit from one another, which multiplies the level of accountability, security, and efficiency for business processes.

OUTLINE

 

    • How AI Works With The Blockchain

    • Is Blockchain Artificial Intelligence?

    • Real-World Use Cases of Blockchain and AI

    • Benefits of Blockchain And Artificial Intelligence Fusion

    • AI and blockchain integration

    • Blockchain AI Companies

HOW AI WORKS WITH THE BLOCKCHAIN

When you hear Blockchain and artificial intelligence in the same sentence, your first thought is probably how convenient it would be to have your trades open and close on their own. 

The joy of knowing that AI has your profit-taking covered, which results in no losses, and not having to worry about it.

The relationship between Blockchain and AI, however, is way beyond that.

For several years, academics have demonstrated that Blockchain and AI are related. The two technologies have long operated separately, but things are quickly changing. 

Most AI applications are moving toward the ample data space mainly due to the enormous amount of data these devices produce.

Blockchain is a costly way to store large amounts of data conventionally. 

It is costly to store larger files on the bitcoin blockchain because each block is just one megabyte. 

Therefore, data is kept on a decentralized storage media to overcome this problem, which hashes and connects it to the blockchain blocks or uses the smart contract already written.

Decentralized AI apps and algorithms are created with access to the same vision of a trusted and shared data platform for preserving your knowledge, records, and judgments when artificial intelligence and blockchain technology are combined. 

This platform is helpful when you maintain accurate records of all the AI algorithms before, during, and after the learning and decision-making process.

IS BLOCKCHAIN ARTIFICIAL INTELLIGENCE?

Blockchain is not an AI system. Among other things, blockchain technology is a system that keeps and verifies all transactions that take place within it. Each block of data contains details about the transaction that has taken place. This means that data will be challenging to modify and accessible to everyone.

Conversely, AI is computer software that can perform tasks and jobs that humans typically complete. 

In addition, it gains knowledge from its experience, which helps the AI get smarter. 

While not the same thing, Blockchain and artificial intelligence work best together.

REAL-WORLD USE CASES OF BLOCKCHAIN AND AI

Real Life Uses Cases of Blockchain

HEALTHCARE

In ways that one cannot comprehend, impressive technologies are advancing medicine. 

Healthcare businesses are working as hard as possible to ensure that they provide their customers with products and services that meet their needs while lowering costs and enhancing outcomes through data. 

As a result, traditional medical systems are being modified and improved in terms of effectiveness, service, and personalization. They are doing this by utilizing Blockchain and Artificial Intelligence to remove the barriers preventing the healthcare industry’s growth.

AI uses various proposed algorithms, decision-making skills, and a lot of data, and healthcare professionals can examine a patient’s medical information on the Blockchain.

SMART CONTRACTS 

Value, goods, and services can now be exchanged more safely and effectively. All thanks to smart contracts, artificial intelligence, cryptography, or algorithms. 

By encrypting, monitoring, and automating transactions, AI-enabled blockchain solutions will improve data analysis from data sets with thousands of variables. 

They will also help improve intricate distributed energy resource exchanges and contribute to cyber resilience.

ROBOTICS TECHNOLOGY

As we all know, robotics are propelled by artificial intelligence. As with chatbots or voice-assisted technologies like Siri and Alexa, it gives them the ability to learn and perform perfectly and efficiently. 

Businesses are relying on numerous technologies, not just one, to implement RPA (Robotic Process Automation) effectively and efficiently. 

This demanding industry insists on creating and providing solutions satisfying clients’ needs.

Blockchain provides data immutability, which assures that the activities are tamper-proof, while Artificial Intelligence multiplies automation to increase the productivity of robots. 

Moreover, the operating method used by these technologies collectively aids in achieving the intended result. 

The most important application of this pair was in swarm robotics, which involved using these to manage a collection of robots. 

Blockchain technology combined with artificial intelligence could improve how robots react and behave.

AUTONOMOUS VEHICLES (AV)

The learning process of autonomous, driverless, self-learning cars is sped up and simplified by an artificially intelligent blockchain employing reinforcement learning, which then transmits the knowledge acquired.

The automobile gains knowledge from its mistakes. The knowledge of cars connected to a common public ledger can be shared, allowing all the cars using that shared ledger to draw their stopping cues from the experience of a single car, obviating the need to train each car independently. 

Blockchain technology can be used to facilitate this group learning.

BENEFITS OF BLOCKCHAIN AND ARTIFICIAL INTELLIGENCE FUSION 

Everyone desires a degree of energy efficiency, security, scalability, and data regulation control in their transactions. Applying Blockchain and AI can significantly impact several industries and offer a flexible means of achieving these goals. 

Machine learning is a technique used by AI to improve the performance, accuracy, and efficiency of data. Blockchain, in contrast, searches for energy and power to operate a network of computers. The procedure is made more accessible and more practical by combining Blockchain and AI. 

The use of Blockchain in conjunction with AI has the following advantages:

 

    • Businesses often have to deal with challenges relating to data processing, and when Blockchain and AI are combined, they can significantly impact these issues. The data will be divided and dispersed around the network with a blockchain.

 

    • The control of data is not centralized. To prevent data loss, each computer will maintain a complete duplicate of the ledger. Blockchain is the superior option if you want a private data environment that uses AI processing and improves user experience. For instance, the data for the healthcare industry gives a thorough review of everything related to the health sector. You may examine this large amount of data to learn about, identify, diagnose, and prevent diseases.

AI AND BLOCKCHAIN INTEGRATION 

Blockchain and AI Key Integration

AI and blockchain technology are closely related in many ways. The direct integrations are listed below:

 

  1. Open source of data 

To train an AI program, you need a lot of data. Blockchain is the most available technology, making it a trustworthy source of finely honed data. 

The data source may be efficiently verified thanks to the nodes’ capacity to be tracked back.

2. Protection of privacy 

The network that supports AI operations and training is more secure thanks to cryptographic methods. In addition, you can train and provide AI systems because they are competitive and have increased complexity when you have a strong privacy mechanism.

3. Safety 

The smart contracts on the Blockchain lack sufficient security. The rigidity of the contract, around which the Blockchain revolves, makes it easy to hurt applications with flaws. 

AI is utilized to develop more secure smart contracts to reduce such vulnerabilities.

4. Independent system 

Thanks to the decentralized ledger technology, no single server manages all aspects of the AI program. 

The autonomous system drives decentralization for managing AI operations and training without supervision.

5. Decentralized processing 

A lot of firepowers is needed to train and maintain AI. This duty is assumed and is assisted by blockchain technology. It also addresses the need for storage, maintenance costs, and space-related issues, including hardware and software.

6. Sincerity 

Blockchain’s digital ledger addresses the problems with explainable AI while revealing information about the origin of the data utilized and the AI framework. 

It aids in boosting your confidence in the accuracy of the data and the AI’s recommendations. In addition, Blockchain for AI modes of storage and distribution offers an audit trail and combines Blockchain and AI to improve data security.

7. Enhancement 

AI quickly and thoroughly reads data. By introducing greater intelligence to the business networks built on blockchain technology, it also quickly comprehends and processes the data. 

Blockchain will help AI scale when you give it access to more extensive data inside and outside organizations. It will also manage model sharing and data usage, create a transparent and reliable data economy, and provide more actionable insights.

8. Effective reading 

Blockchains frequently have limitations due to poor query performance and limited data storage options. 

With level DB-a write-intensive DMS, the blockchain applications give up reading efficiency to adopt a more write-intensive strategy. 

The data storage techniques support the use of Blockchain while utilizing AI. Furthermore, through PSO algorithms, a novel TTA-CB protocol is being presented that reduces the problems with data storage. 

AI finally aids in accelerating data query speeds after extensive testing and training.

BLOCKCHAIN AI COMPANIES 

Chainhaus

Chainhaus is a blockchain and AI advice, education, and marketing company. The business offers various end-to-end solutions, from research and capital raising to education and app creation. 

Students from multinational companies like Citi, AIG, PWC, and Deloitte have attended The Chainhaus Academy.

Figure

The Figure was created by Mike Cagney, the former founder of SoFi, and as of 2021, it was valued at $3.2 billion. 

By locating new entry channels for consumer credit products, including home equity lines of credit, home remodeling loans, and even house-buy-lease solutions for retirement, Figure leverages Blockchain and artificial intelligence to speed the home loan application process.

Token Metrics

Token Metrics are a tool for examining cryptocurrency market trends for individualized investment needs using artificial intelligence technologies. 

To assist users in making investment decisions, the system examines the data of more than 6,000 coins and derives market insights and updates. 

Major corporations like Coinbase, Amazon, and Facebook have all used Token Metrics.

CertiK

For the security of Blockchain, smart contract, and Web3 apps, CertiK offers tools driven by AI and formal verification. The CertiK system, which has four solutions available, aids in identifying security issues, monitoring data insights, and visualizing the movement of cryptocurrency funds. Additionally, the business provides SkyTrace, a digital wallet that enables users to store and share security information about their cryptocurrency.

BoxPlay

BoxPlay produces interactive, on-demand material for expanding careers intended to be enjoyed at work and is marketed as an Amazon Prime meets a Netflix for business. 

Each BoxPlay channel specializes in a specific topic (such as communication, upcoming technology, etc.) to offer staff members timely and digestible content. 

Content on Blockchain and artificial intelligence in the workplace is available on BoxPlay.

CONCLUSION

The future of living, working, and interacting with people will be drastically altered by Blockchain and artificial intelligence (AI), two of the most disruptive technologies ever. 

Blockchain and artificial intelligence (AI) are recognized as the two main forces influencing modern innovation. 

Millions of capital investments are expected to be made in the global economy due to both parties’ radical changes to many facets of human existence. 

The era of autonomous systems and prediction technology is already here, and these systems can create the necessary content and posts on your system of interest in casual conversations.

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