Blockchain and Artificial Intelligence (AI)
Today Blockchain and AI are the hottest technologies. Both are completely different in architecture and vision, yet there can be remarkable fusion between these two.
Artificial Intelligence (AI) works as per the available data and use it for decision making. Today we can consider AI as cocktail of machine learning, artificial neural networks and deep learning.
Blockchain is digital ledger of distributed transactions. It stores data in encrypted and tamper-proof format. Cryptography is the technology that makes it very robust and secure.
Data security and Decision Making
Blockchain works well with encryption of data and managing it in highly secure distributed ledger. It can be used to store, process and manage data in the distributed ledger. We can consider a smart system of entertainment industry which can store data of individual’s choice and interest along with its personal details. Intelligent system can suggest what the customer wants to watch or listen. For decision making, AI can be applied with blockchain database.
This picture will be incomplete until some challenges are meet-out e.g. how AI can get access to the private keys as blockchain stores data in encrypted format. Till now Blockchain is a closed network so there needs some access point where AI can be applied.
One of the challenges with technology experts is to validate the decision made by the AI systems. Initially this is very challenging job to build trust among the people for blockchain and use of AI. AI with Machine learning is self-evolving system which will have to manage incremental data to test against any fraudulent activity.
Blockchain and AI both can be ground-breaking combination and can provide best solution in terms of data security and decision making to provide fast and reliable service to the people around the world.
Some of the practical implementations of BLOCKCHAIN and AI are below:
SingularityNET is a non-profit organization founded in 2017 at Amsterdam. It is a decentralized marketplace for AI algorithms. Companies can buy and sell AI algorithm, Machine learning software and data at SingularityNET.
SingularityNET is focusing on how AI and Blockchain can brought together to develop advanced intelligent system that can perform any task automatically in secure and trusted manner.
Namahe -AI Supply chain
As we know that supply chain involves the manufacturers, suppliers, workers, retailers and products and finally the customer who consumes the product. This is quite a complex process in terms of data processing. Ultimate goal of technology is to automate the entire process.
Goal of Namahe platform is to provide fully automated supply chain management system by using AI. As in supply chain there are so many parties involved and also number of parameters and combinations that affect the decision making system. Here using AI can play significant role to make this process safe and fast.
If anybody has some understanding how algo trading is done in trading exchanges around the world then it is quite easy to understand how machine learning and AI can be applied in bigger space. In existing algo system software logic processes historical data and then gives the prediction or do the job accordingly.
In similar way Numerai an AI based approach to analyse data and gives the prediction more accurately, as it can process the very large volume of data from different locations.
For any company or startup it is very expensive affair to work with AI and machine learning projects. This is because they need to process very large volume of data and it requires high computation power to run their AI based simulation software.
DeepBrain Chain provides a decentralized neural network for AI based projects. It provides processing power to the AI based companies.
Finally, companies and startups are deeply involved with these cutting-edge technologies to improve the technology so that it can be secure, reliable, fast and self evolving.