Artificial Intelligence and Blockchain, Stronger Together.

Artificial Intelligence (AI) came about in contrast to the natural intelligence displayed by humans and animals. It is commonly referred to as machine intelligence. Artificial Intelligence is a field in computer science that focuses on recreating behavioral traits that average human exhibits onto machines and it has become an essential part of the technology industry

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According to Wikipedia, Computer science defines AI research as the study of “intelligent agents“: any device that perceives its environment and takes actions that maximize its chance of successfully achieving its goals. AI is not a new field of study; it has existed from as far back as the ’50s.  At Dartmouth College in 1956, a group of researchers had a summer meeting and shortly after they publicly released the contents and ideas that were birthed from the meeting.  A flow of government funding was then reserved for the study of creating a non-biological intelligence which is now AI as we have it.

It is definitely true that AI and blockchain are two ‘world shaking’ technologies.  It is generally known that blockchain means safe, transparent, fast and cost-efficient transactions. But disadvantages abound, In fact, no innovation is a hundred percent glitch- free. Therefore, a combination of two technological forces will provide mutual advantages to be leveraged on

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Security Synergy

A peak high level of security is required to safeguard transaction details of exchanges from cyber thieves. There are known cases of cyber theft or hacking into digital transactions on the blockchain system which led to the loss of funds. Blockchain, however, has proven to be reliable but cannot totally guarantee this level of security expected. The synergy of both conventions can match up to the abnormal state of security required. Imagine computer networks on the blockchain system running preprogrammed with artificial intelligence.

Scalability

The ability of a computing process to be used or produced in a range of capabilities is a typical depiction of what Blockchain can do. But stored up data eventually becomes too much especially when some are old and not needed anymore. Data wise, Blockchain was reported to be at a pace of 1MB every 10 minutes and it already adds up to 85GB, data stored is definitely growing attributing to new users joining these days. The first mentioned of “blockchain pruning” (i.e., deleting unnecessary data about fully spent transactions in order to not hold the entire blockchain on a single laptop) was by Satoshi (2008) the brains behind blockchain Technology. He mentioned it as a possible solution to declogging the database but Artifical Intelligence can introduce new decentralized learning systems such as federated learning, for example, new methods of discarding data after all data must have been categorized to determine what goes or stays.

Mining can be made easy.

Bitcoin mining is a means of disseminating new coins in a decentralized manner as well as motivating people to provide security for the system. It can be likened to the mining of other commodities as it also requires coercion and it slowly makes new currency available at a rate close enough that of commodities like Silver.

These quoted texts according to Bitcoinmining.com are already difficult for a layman to fathom but AI is proven to undertake the energy consumption of mining that will result in lover investments in mining hardware. “Mining was intentionally designed to be difficult so that the number of blocks found each day by miners remains steady. Individual blocks must contain proof of work to be considered valid. This proof of work is verified by other Bitcoin nodes each time they receive a block. Bitcoin uses the hashcash proof-of-work function.” Mining is hard but, the artificial intelligence leverage will be used to confer mining responsibilities to machine intelligence.

As much as Artificial Intelligence seems to have a wider margin over time than Blockchain, Blockchain could be useful for Artificial Intelligence as well.

Since blockchain is a popular secure data hub, then more data (and more training data) will always flow in. this, in turn, will increase the efficiency and effectiveness of the joint system as AI will seek to work at a high pace for the best results. There will be better models, better actions, better results and more.

Embedded in the design of Artificial intelligence is the shortcoming of impaired speech in relation to a human specimen. AI is known to suffer from an explainability problem. Having a concise report trail makes data more trustworthy and models as well but this problem may hinder that. Being that AI cannot solely provide a clear route to trace back the machine decision process. It would need Blockchain.

 

Placing AI and Blockchain in one box.

Lots of startups have emerged in the Blockchain and Crypto space, just as many tech companies delved into Artificial Intelligence. The purpose of this piece was to project the two, Blockchain and AI at some sort of confluence. There are few model companies in San Francisco and London but in Australia, China, New York, as well as some European countries. But not many companies have been found to explore this option. Companies like BurstIQ (a healthcare data marketplace); AtMatrix (creators of decentralized bots); TraneAI (provides decentralized training of AI); Neureal (peer-to-peer AI supercomputing), Talla (a chatbot) Priops (data compliance) EthVentures (investments on digital tokens); have begun to blend Blockchain and AI through initiatives based on Trading, Prediction Platform, Data provenance, Conversational Platform amongst other things.

Blockchain and AI may be really the king in their own lanes but one can’t help but wonder what the merger will blossom into. For as many, as will follow initial footpaths, we’ll call them AI-blockchain Companies. Not so much information is known on this convergence but also, the technology space is ever evolving and the pre-existing and prospective AI-blockchain companies will answer pending questions or even better bring more ideas life.

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Credits- Medium, Francesco Corea, Oscar W, Yessi Bello Perez, Quora.

 

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