Blockchain is a decentralized, distributed and immutable database used to record data in an encrypted way. Artificial Intelligence(AI) is a practice where machines are capable of doing tasks in an intelligent way. Blockchain and AI has its own individual twists, complexity and benefits, but combining both the disruptive technologies together could fundamentally reshape the business ecosystem to a completely secure system.
Osiz Technologies are expertise at offering custom blockchain solutions to overcome the challenges faced by the AI technology. We help businesses, start-ups and large scale enterprises to strengthen their security and privacy by leveraging custom blockchain solutions into their Artificial Intelligence (AI) services. Our solution will automate your business processes in a more secure and simplified way.
Artificial intelligence (AI) is an part of computer where the intelligent machines work and react same like humans. AI typically demonstrates some of the behaviors associated with human intelligence like planning, learning, reasoning, problem solving, decision making, prediction, and much more through cognitive computing, machine learning and natural language processing (NLP).
With the emergence of AI, we are getting much closer to the days where computers no longer need human support, and in fact, they get the ability to learn and adapt information themselves. Also, AI includes speech recognition, face recognition, chatbot, and more exciting innovations that could simplify a business process with automation and security. Experts of various industries believe that artificial intelligence will rule the next era, but they also have some challenges which is a problem for artificial intelligence and specialists are pretty sure that it can be addressed using blockchain.
The major issue with AI is that when the software or hardware crashes, it is difficult to dig deep in finding what went wrong and who made things go wrong. It is also difficult to find the cause of software/hardware crash.
A large amount of data and information will be extracted through various source of AI. All the information has to be securely saved and accessible any time. Handling those data is not easy and the chance of hack or loss is high.
AI generally rely on millions of data to learn and make appropriate decisions. Most often, sensitive and personal data will be analysed by the machine and it leads to security issues like data breach and identity theft.
AI was initiated to simplify the work with automation but not all the tasks can be undertaken by AI. It is likely a tool which helps in strengthening the productivity and performance of an average worker and it becomes an issue with the existing system.
Since millions of data are recorded, it requires a large quantity of storage to store all the necessary data. But sometimes, not all the data are entered clearly and this might affect at the time of making important decision at business.
The success of AI is purely based on how well the solution is merged with the existing or new technology in the business organization. Flexible organization could adopt AI easily with smart integration.
The combination of Blockchain and AI emphasize on creation of a strong foundation that bring a change to the current transactions. Here are some of the reasons to prove that integrating blockchain could solve the issues with AI.
Blockchain is the technology that has the potential to automate payment using cryptocurrency and gives access to the shared ledger of data and transactions in a decentralized, secure, and trusted way. With smart contracts, blockchain allow the participants to interact without intermediary. On the other side, AI is the technology offering intelligence and decision-making powers for the machines just like humans. Here are the features and benefits attained on combining blockchain with AI.
In the healthcare sector, blockchain allow the patients to prevent unauthorized viewers from accessing their medical information by encrypting it with unique code. Also, it would allow the healthcare providers to access patient’s record easily and provide aid even at time of emergency. Adding AI to it will bring more storage to the blockchain by making it easier to access unstructured data. Also, AI can track individual health data and provide improved diagnostics and better treatment to patients.
The E-commerce sites make use of the users data to recommend products based on their recent searches and preferences. This is actually made possible with the AI technology and the issue here is that all the information of an individual will be stored on a centralized database of the company, which is easy to hack. To overcome privacy issue, blockchain is integrated to protect sensitive data like card details, mobile numbers and addresses by limiting the access to specific person.
AI manages inventory in the supply chain, especially because modern supply chains are becoming so complex where humans require machines help. Implementing AI helps in making logistics operations more accurate and it also it is believed that blockchain has possibility to disrupt the supply chain industry. Leveraging Blockchain with AI is very useful for supply chain industry to secure process and eliminate friction in the delivery, makes them more efficient and less expensive to operate.
Finance industry integrated the blockchain and is more advanced than most of the industries. The transactions are made at ease with utmost trust and security using blockchain. Financial trading and investments can now be informed and automated using machine learning algorithms, which can monitor market sentiments. Combining AI with blockchain ensure quick trades and the money can be transferred in real-time. Automated, secure and transparent process can completely change the financial services and banking while eliminating intervention of human in the financial markets.
Osiz is a well-known blockchain development company offering customizable solutions for various clients around the globe. Our experts are specialized in implementing blockchain technology with the artificial intelligence (AI) to reshape the business with smart innovations. Hire our experienced team of blockchain experts to get an end-to-end blockchain solutions for AI within the defined time period.