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Published :14 June 2024
Blockchain

Blockchain and Artificial Intelligence

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What Is AI?

Artificial intelligence (AI) is a part of computers where intelligent machines work and react the same as 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 when 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, chatbots, 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.

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 have their own individual twists, complexity, and benefits, but combining both disruptive technologies together could fundamentally reshape the business ecosystem into a completely secure system.

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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 allows the participants to interact without an intermediary. On the other side, AI is the technology offering intelligence and decision-making powers for machines just like humans. Here are the features and benefits attained by combining blockchain with AI.

  • Decentralized Feature Of Blockchain And Centralized Feature Of AI, Enhances Data Security.

  • Deterministic Nature Of Blockchain Will Help In Building Trust On Robotic Decisions.

  • Blockchain Makes Data Immutable Along With Probabilistic Nature Of AI Helps In Making Collective Decision.

  • The System With Blockchain And AI Benefits From Decentralized Intelligence

  • It Enables Transparent Governance

  • Blockchain Attacks Resilient And AI Analyse Data For Better Decision, Thereby Providing 

  • Blockchain Solutions For AI Helps In Improving Business Data Model

  • It Improves Trust Through Globalized Verification System

  • Businesses Can Get Intelligent Predictive Analysis

  • Energy Saving And Cost-Efficient IT Architecture

  • Integration Of Both Technologies Enables Quicker And Smoother Data Management, Verify Transactions, Identify Illegitimate Documents, Etc

Why does Artificial Intelligence need blockchain?

The combination of Blockchain and AI emphasizes on creation of a strong foundation that brings a change to the current transactions. Here are some of the reasons to prove that integrating blockchain could solve the issues with AI.

ScalableScalable

When AI is supported by blockchain technology, it becomes highly scalable for certain progress. The process of combining centralized data sets is fulfilled with the amalgamation of technologies.

Data ProtectionData Protection

AI has a centralized database system where the chance for loss of data, corruption of data as well as data alteration is more. Blending AI with Blockchain will surely provide a better data management system through transparency.

Data Privacy and security data Privacy And Security

The personal and more sensitive data are recorded in AI and anyone with a password can access the information. The security here is strengthened by integrating blockchain, where hacking or loss of data is prevented.

PrivacyPrivacy

The threat to identity exists in AI despite numerous tools like speech recognition, face recognition, and much more. The identity and privacy are saved by using blockchain which enhances the hash functions that securely transfer data.

EfficiencyEfficiency

With the blend of blockchain and AI, the business workflow and process becomes productive. It becomes simple to collect the data, learn and predict, to make a better business decision.

Wider Data AccessibilityWider Data Accessibility

AI has the ability to access wider data and blockchain has the capacity to make it simple in a short span of time. When AI is combined with the blockchain, machines can access wider data and help in making intelligent moves.

Author's Bio
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Thangapandi

Founder & CEO Osiz Technologies

Mr.Thangapandi, the founder and CEO of Osiz, is a pioneering figure in the field of blockchain technology. His deep understanding of both blockchain technology and user experience has led to the creation of innovative and successful blockchain solutions for businesses and startups, solidifying Osiz's reputation as a reliable service provider in the industry. Because of his unwavering quest for innovation, Mr.Thanga Pandi is well-positioned to be a thought leader and early adopter in the rapidly changing blockchain space. He keeps Osiz at the forefront of this exciting industry with his forward-thinking approach.

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