- Dawn of a new age with the combined technologies of AI and blockchain
- Different ways in which AI and crypto could work together
Recently, two technologies, blockchain and AI, have made quite a name for themselves. They have taken the world by storm across different sectors. Even though such technology has scaled great heights, there are many limitations to them. While neither one can be considered perfect by itself, combining them together could possibly get them both close to perfection.
Impact of Blockchain and artificial intelligence
Blockchain technology is a distributed ledger where immutability is its greatest feature. Any assets or transactions on the blockchain could be tracked down without the help of a regulatory central authority. All of the information that is stored in the blockchain is kept in single blocks.
These blocks are extended into a chain when people move those from their initial position to another location. Safety and security are some of the most appreciable features of blockchain, and trust plays a huge role among users. It is almost impossible to alter the information stored in blockchain due to its strength to thwart malicious external attacks.
On the other hand, artificial intelligence is known for totally evolving how a computer solves complex operations. The rapid growth of artificial intelligence may even pose challenges for the human mind because of its amazing decision-making and problem-solving skills. Specific algorithms are inputted into artificial intelligence to help complete tasks with impeccable quality.
Nowadays, most businesses are greatly interested in how artificial intelligence may be used to improve productivity. It is possible that combining blockchain and artificial intelligence could lead to a highly productive technology.
Combining artificial intelligence and blockchain technology
There are several ways in which artificial intelligence and blockchain technology can be brought together. Here are some unique differences that could be brought about by combining such technologies:
- Data transparency
Artificial intelligence requires huge amounts of data to execute its operations effectively. Without data, it cannot function as it should. Blockchain technology can trace back those nodes of the server from where data has been gathered. To ensure it is transparent and verified.
- Data privacy
One of the prime reasons most businesses prefer blockchain technology is its privacy features. No one from the outside can alter or delete the data inputted on the system. Having stricter privacy policies makes AI more efficient in completing complex tasks as it is constantly monitored and supervised.
- Data automation
When manual tasking of data operations occurs, there is always a risk of certain mistakes. However, if blockchain and artificial intelligence are integrated, such operations would be automated, making the process cost-effective. And mishaps could be reduced significantly.
Conclusion
Since the launch of blockchain technology and artificial intelligence, there have been a lot of discussions regarding their capabilities. However, both of their capacities may be exponentially improved by combining them together.