Artificial intelligence and blockchain – the future of the technology world. Maybe not yet, but certainly these two fields will have a huge impact on our development in the near future.
Both technologies have an overwhelming potential to revolutionise not only the cryptocurrency industry, but the entire world. Blockchain offers us many decentralized solutions. Many people are already using this advanced technology. On the other hand, we have artificial intelligence, which has started to improve these processes even further. So, is artificial intelligence based on blockchain a new technological solution for us? Let us have a closer look at this proposition.
Artificial intelligence (AI) and blockchain – definition
However, to fully understand the topic at hand, we need to clarify what these topics are. Let us start with artificial intelligence (AI). In practise, this term refers to machines that are able to perform tasks that would normally require human intervention. This includes learning from data or making decisions based on a collection of specific information.
In everyday life, AI is increasingly being deployed and used. From virtual assistants to medical diagnostic tools. All the technology that comprises artificial intelligence consists of complex algorithms and machine learning techniques. The possibilities for the use of artificial intelligence are practically limitless.
Blockchain, often referred to as blockchain or distributed ledger technology. It allows information to be stored in a network of computers rather than in a central location. A system operating in this way creates an immutable record of transactions that cannot be changed or modified. How does it work? Each block in a chain contains a unique hash that links it to the previous block. This is how a chain is created. It is virtually impossible to edit a previous record without this process being detected.
AI Blockchain – does it make sense?
You already know what artificial intelligence is and how we define blockchain. OK – so what does one have to do with the other? Let us now look at how blockchain technology can improve artificial intelligence and what new solutions it can bring.
The first problem that artificial intelligence faces is the huge amount of unexplained data values. And why? Usually, artificial intelligence communicates with a human by providing output in the form of values or data streams. Troubleshooting these systems takes a long time. The AI blockchain can help solve this problem by building a distributed supercomputer.
The users of the entire blockchain network could provide their computing power, and the connection would create a huge supercomputer. All the data in the blocks would be added one by one. In this way, we would be eyewitnesses to how the AI learns new information and how it evolves. And that’s not all – the blockchain would support the development of artificial intelligence. We would be able to find better solutions and the AI would learn faster.
The combination of blockchain technology and artificial intelligence would create new data markets. Storage in the blockchain would lead to any artificial intelligence being fully decentralized. The result would be an AI market where we could get the tools to develop artificial intelligence ourselves or for companies.
Using blockchain technology to develop AI would solve the trust problem. Artificial intelligence is a centralised technology that we cannot trust completely. So if all the data and information were stored in a fully decentralized database, we would be able to track what the artificial intelligence is doing. The interactions between the machines themselves would be recorded. If we combine artificial intelligence and blockchain technology in this way, we would break down the trust barrier.
On its own, AI blockchain technology can create innovative, intelligent applications that focus primarily on users and their experiences. When blockchain technology powers artificial intelligence, the combined possibilities will be limitless!
Summary
Blockchain and artificial intelligence – the combination of these two technologies will have a huge impact on the development of many industries. Not just on the cryptocurrency industry. Moreover, blockchain technology will definitely improve the opinion on artificial intelligence and break down many barriers on this topic.
Will the AI blockchain be the pioneer of a new generation? Absolutely. How will the destiny of this solution unfold? We do not know yet, but we expect the best!
Conclude today’s lesson!