Blockchain technology and Artificial Intelligence are developing rapidly. These two technologies can do wonders is they are applied together. Read on to know more…
Blockchain technology and Artificial Intelligence (AI) are developing rapidly. These two technologies can do wonders is they are applied together. Medicine, business, education, logistics, entertainment and various other Industries use these technologies. Artificial Intelligence and Blockchain technology is capable of transforming all sectors of human life.
The handling of data is an increasingly hot topic and businesses dealing with it — for commercial reasons or otherwise — have a legal and moral responsibility to safeguard it. Thus Blockchain technology and AI can make a substantial impact in the way they are handled together.
Blockchain technology and AI has several potential applications in the Industry. These applications is a result of using both technologies of AI and Blockchain providing efficient ways of procuring energy, improved scalability, security, privacy, hardware automation, and proper governance data regulations. Artificial Intelligence requires data or information to pick out trends and develop itself through deep learning. Interestingly, blockchain technology requires power and energy to cluster computer systems and run processes quicker. This established relationship creates a dependability between both these parties which ultimately result in a technological breakthrough or a catastrophic consequence.
With the help of Artificial Intelligence, Blockchain technology not only benefits but also provides returns. Artificial Intelligence in return gets more information and that helps the system’s evolutionary process. Furthermore, the more sophisticated the AI becomes efficient. With the passage of time, people will start trusting the AI as it provides transparency. The rationale behind this trust depends greatly on the shift of perspective. People need to transition from the traditional financial culture towards newer and more efficient methods.
On the Blockchain technological solutions for Artificial Intelligence, the tech features of the Credits blockchain platform, for instance, its high network bandwidth and high data validation speed, can meet the future needs of the SingularityNET economic model, which may rise due to the increase in the number of Network Agents. One of the key advantage of using the Credits platform in terms of the concept stated by SingularityNET is — a single protocol for issuing, storing and transferring various types of tokens. Every participant of the Singularity network will be able to tokenize models based on artificial intelligence algorithms that will be presented on the Singularity marketplace.
The Road Ahead
Although Blockchain technology and AI have great potential in their own right, one cannot help but wonder what they may achieve if their combined force were put to good use. Both technologies are mutually inclusive, and could potentially pave the way for a much more transparent, and efficient world.
The combo of Blockchain technology and Artificial Intelligence and its application for Industries cannot be undervalued. AI alone is incomplete and requires an infrastructure capable of bearing the immense amounts of data generated in the process of analyzing flows. Blockchain technology alone is incomplete as well since it requires an application to use it for storing data. It is thus technologically logical and viable to combine these two technologies and produce valuable systems that can be applied in a various Industries. The start has already been announced, now it is up to the researchers and developers to create applications and try use cases for the AI-Blockchain tech duo.