FREMONT, CA: Blockchain technology transforms the communications and transactions arena by the enhancing trust among the players with improved transparency, provenance, and privacy. AI can carry out and complete complex tasks through its computational prowess. These technologies already rule the market at present and will turn out to be revolutionary when combined.
How Does the Combination Work?
With enhancing the functionality of AI, Blockchain can be made flexible to access unstructured data. The Bitcoin mining process on Blockchain can be taken over by AI. A whole new set of insights can be unleashed by engaging Blockchain to extend the access for implementation of AI on data across organizations. There is a redefinition of the business process and record systems by applying Blockchain and business engagement systems by AI.
AI and Blockchain Use:
The data stored on Blockchain can benefit small businesses, NGOs, and governments for a wide variety of causes by using both public and independent data. With the ability to provide transparency and decentralized data, the Blockchain can be used as a computational resource along with AI. AI and Blockchain exhibit many features that will guarantee a smooth interaction in the future. Lastly, Blockchain is synonymous with immutability, which connects any user to that data while tracking and auditing every interaction.
With maturity, the Blockchain can assist healthcare organizations to validate their results. It can also be applied to prove citizenship in different regions, in case of no birth certificates.
Blockchain acts as a secure gateway for data transmission over the internet since AI is linked to the data.
Machine learning helps to improve the implementation of Blockchain applications to predict possible system violations. AI needs the Blockchain to elaborate on how data is managed and protected, which in turn allows Blockchain to create the possibility of globalizing and decentralizing AI completely.
The combination of Blockchain and AI can be used to incept a backup system for the highly valuable and sensitive personal data of individuals. Blockchain enables users to collect revenue on the data created through data markets via microtransactions, which is precisely needed for data trade.