Blockchain and Artificial Intelligence (AI) are two of the biggest technology tends of our time. Here we look at what would happen when you combine these two megatrends. We explore 3 major benefits that could be gained from blending AI and blockchain technology.
Previously I have written about the reality and potential of ongoing efforts to integrate blockchain with internet of things (IoT). Now I am going to look at how encrypted, distributed ledgers could unlock new frontiers for another cutting-edge technology: artificial intelligence (AI).
AI, as the term is most often used today is, simply put, the theory and practice of building machines capable of performing tasks that seem to require intelligence. Currently, cutting-edge technologies striving to make this a reality include machine learning, artificial neural networks and deep learning.
Meanwhile, blockchain is essentially a new filing system for digital information, which stores data in an encrypted, distributed ledger format. Because data is encrypted and distributed across many different computers, it enables the creation of tamper-proof, highly robust databases which can be read and updated only by those with permission.
Although much has been written from an academic perspective on the potential of combining these ground-breaking technologies, real world applications are sparse at the moment. However, I expect this situation to change in the near future.
So here are three ways in which AI and blockchain are made for each other.