The Blend Of Blockchain And Artificial Intelligence
Blockchain
and artificial intelligence
are two major technologies that regulate the pace of innovation and introduce a
radical shift in every industry. Blockchain brings the major transformation in
the financial sector. In fact, the companies are going for a test approach
especially the banking sectors towards the blockchain technology.
If we compare the other centralized
technologies blockchain makes the work safer, smoother and transparent.
While
there is a much impact on the financial sector but blockchain can also play an
important role in the development of Artificial Intelligence (AI). In general,
every technical aspect has its own degree of complexity as well as business
implications but the combined use of the two may be able to create the entire
technological and human paradigm from scratch.
Depending on who can access and verify
the information stored on it, there are many potential ways to use a
blockchain, apparently, there are varying levels of security and transparency.
Ultimately, it is a way of recording data, transactions, and information in a
more decentralized way. AI or machine learning, on the other hand, operates on
a centralized, closed system, accomplish its task.
Decisions made by AI algorithms are
increasing. Those results are being utilized, and they are still being audited
by humans to ensure the accuracy of those decisions. That verifies the
efficiency of ongoing machine learning. This is a tedious task, as enormous
amounts of data are fed into AI algorithms. Sifting through each decision point
becomes complex.
Here the auditing process becomes
greatly simplified by recording each of these points on the blockchain, making
it more secure and easier to assess. The complete and transparent view into the
decision-making process of AI technology is an important step in validating
AI’s usefulness. This can be safely stored on the blockchain, yet still
accessed by AI decision-making processes as necessary.
Let’s check out an example of the
healthcare industry:
There is a mutual understanding, where technology includes
safely storing medical records and checking them against current best practices
to make the most accurate diagnoses and treatment plans possible. It reduces a
lot of human work.
When comes to the part of the entertainment,
machine learning will help in suggesting the next best enjoyable video to be
watched. With the help of blockchain, our preferences and viewing history can
be kept safe. Work is made easier and convenient with artificial intelligence
algorithms.
Combined abilities of blockchain and AI will
allow maximizing benefits. The possibilities are endless with the recently
developed innovations of AI and Blockchain.
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