Blockchain Solutions For AI
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.
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What Is AI ?
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.
Current Challenges Faced By Artificial Intelligence (AI)
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.
Why Artificial Intelligence Needs To Breath On Blockchain
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.
When AI is supported by the blockchain technology, it becomes highly scalable for the certain progress. The process of combining centralized data set is fulfilled with the amalgamation of technologies.
AI has a centralized database system where the chance for loss of data, corruption of data as well as data alteration is more. But blending AI with Blockchain will surely provide a better data management system through transparency.
The personal and more sensitive data are recorded in AI and anyone with password can access the information. The security here is strengthened by integrating blockchain, where hacking or loss of data is prevented.
The threat to identity exist in AI despite numerous tools like speech recognition, face recognition and much more. The identity and privacy is saved by using blockchain which enhance the hash functions which transfers data in secure way.
With the blend of blockchain and AI, the business work flow and process becomes productive. It becomes simple to collect the data, learn and predict, to make a better business decision.
AI has ability to access wider data and blockchain has the capacity to make it simple in short span of time. When AI is combined with the blockchain, machines can access wider data and helps in making intelligent move.
Features & Benefits Of Integrating Blockchain 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.
How Blockchain And AI Could Reshape Industries ?
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.
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.
Hire Our Blockchain Experts For AI
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.