“Providing data onto a secure blockchain paired with AI can become a tool to help humanity,” says Siraj Raval, the creator of School AI YouTube.
People rarely remember cassette players today.
An emerging technology generally swaps the existing one in today’s cutthroat world. As people use the new technology, the older one becomes least remembered or used.
Yet, some technologies cannot get replaced or removed but balanced together. The breakthrough technologies such as the Internet of Things (IoT), Artificial Intelligence (AI), Big data, Social media, and 🔗blockchain technology are interdependent on one another. Though the far-reaching implications are not known, they seem to be more promising.
Every business collects humongous data from IoT devices and social media. The AI integration turns data into insights with more accuracy and at a faster rate. When the companies strive to store more data, concerns on privacy, security and data governance including access get raised by the board members. Moreover, the public wants to know the specifics of their data like its usage and security. At this juncture, blockchain engineers say that blockchain technology, known for resilience and security may help to address these data-related trust and security issues.
Let us understand how blockchain and AI can work together to provide trust and security.
Blockchain and AI together can provide trust in data-based systems in facial recognition, voting, self-driving vehicle, and many other applications where the distributed ledger assists to verify the results.
Let’s walk through the five domains where blockchain and AI work together!
The specifically designed AI algorithms solves the block codes and mine bitcoins. AI Company ‘Matrix’ uses a Markov Chain Monte Carlo (MCMC) algorithm. It functions close to the mining principle and consumes less power and works at a higher speed. A constructed AI may help mine twice with half the power.
Several companies are creating a travel ecosystem powered by data science and AI to personalize travel experience. It can make travelers’ holidays more elevating and relaxing. Also, the blockchain module inspires the new age travelers with token-based loyalty rewards schemes, hotel upgrades, flight updates, reviews, peer-to-peer exchanges, and the list adds on further.
Another amalgamation of blockchain and AI is Migranet. It is an AI migration system that uses smart contracts, biometrics, and Migranet utility tokens (MIG) to make the immigration process fast, affordable, and secure. It helps migrants to upload personal credentials and educational background. It facilitates practitioners’ auto-update policies, laws and regulations.
Start-ups are developing blockchain-powered chatbots for texts and multi-media analysis. Using blockchain protocols assists them to authenticate data label quality, analyze a multimedia file, web link, and compile data into a short and insightful content.
Blockchain and AI together conduct the entire checking to provide visibility, observation and early discovery of undesirable event(s). It delivers secure payment services for online payments, card machines, and telephone payments.
When blockchain technology gets integrated with machine learning and AI, it can classify abnormal device behavior and protect IoT devices. As of today, they are useful more in healthcare industries.
In brief, different companies are developing suitable technologies to harness the power that may fuel the research capabilities in the fields of finance, medical diagnosis, chemistry, genetic sequencing, and more.
If you want to explore and realize the benefit, master these next-gen technologies. Understanding the basic principles, applications, and mastering parallel technologies is beneficial to accelerate business processes. A 🔗blockchain certification in combination with AI helps you to inquire about the technologies.
Learn blockchain and Artificial intelligence. Be the next contributor to mankind.