Sure you must have read my last article on which I treated how blockchain integration to Internet of Things will open the way to a new smart world. Now, let’s discuss what the intersection of blockchain and the trending Artificial Intelligence could mean. For space and time constraints, I will refer you to read more on Blockchain technology. So, what is AI?
Apparently, the word Artificial means something not natural, a man-made entity or item. For ages now, technology has kept on feeding us with interestingly awesome innovations classified under this term. However, easing the activities of man is the drive and mission of technology, and constantly, it is pursuing this mission and thereby pushing itself to its next phase with innovations aiding global development.
Aside from the internet of things, AI is another way maker in the lips of every Tech person, enthusiasts, organizations and firms. In direct explanations, AI means the intelligence of man being embedded in artificial creations
The imaginations that if machines (Robotics creations) can be made to act, think and perform like human, brought about idea of the simulation of human intelligence process by machines termed as Artificial Intelligence. AI can also be called Machine intelligence which is the intelligence displayed by machines. Applying AI, one need to understand that AI uses automation which is a process of making a system process function without human interference (automatically).
AI core part is Machine Learning which is the science ability of machines to identify and comprehend codes, chains, patterns and symbols in order to relate with its environment. That is, making a computer act without programming. What AI can perform is numerous ranging from the expert system, language learning and processing, problem-solving, speech recognition, reasoning, perception, ability to move objects, knowledge representation, playing and competing in games etc.
To carry out these activities, the machine is made to Inhabitat in its environment, observe and perceive how things are being run there and begin to perform like humans in that environment. With this realization, issues of myth, fiction and fallacies read in books and watched in movies like Black Panther, infinity wars etc are being made real.
The application areas of AI is nearly every segment of human business daily operations. First and foremost, Cloud services like Google, Alibaba, Baidu etc are moving with the trend of AI integration. The reason being that AI collects data and analysis big data at granular level automatically facilitating companies and individuals partaking in personal and community development projects.
To the education sector, Reports have shown that AI growth in the US education market sector will be at CAGR of 47.50% in the periods of 2017-2021. It is envisioned that students will work in AI-related environments, with the reported growth, it is best that students are exposed early to AI. Aside from that, AI will create an interactive global classroom, it can be made to gather teaching data that can be used for classroom questions and answer purposes. AI can also be customized to meet individual student learning pace, thereby meeting individual student needs, it can be applied to aid testing, skills acquisition and development etc.
To business, finance and marketing, repetitive tasks performed by human can be carried out by AI, it can also be in charge of organisations website, act as customer service representatives. Human brains can’t be measured at the same level with machines when it comes to calculating large quantity of data. AI can collect data and record financial activities. Other notable applications are in Law, public security, healthcare, automated cars, online search, fraud detection, manufacturing etc.
Blockchain and Artificial Intelligence (AI)
What then can blockchain and AI combo mean? let’s start with
Market value and accessibility
According to Analysis, AI although still in its early stage of development could contribute up to $15trillion to global economy in 2030. Blockchain also, believed to be the game-changer of the financial industry, according to CNBC, will contribute over $3.1trillion to global economy. However, I am of the believe that blockchain can do much more than this predicted value. But going by these predictions, bringing the two together could explode global wealth at an unimaginably high level.
Since opening a blockchain coin wallet is easier and faster than opening a traditional bank account, AI adoption will be increased because it will not be just for tech individuals but even to the least, a trader.
since the blockchain is a digital sphere technology which stores data as codes through consensus decision on a distributed ledger, this process is called mining, this mining is a hard mathematical race tasks which consumes an alarming amount of energy.
According to Digiconomist, estimated annual energy consumption of mining is 73.12TWh which is enough to power over 6 million houses. Thankfully, AI uses database of knowledge to make decisions, machines, being what they are can take over this mining protocols, thereby making mining faster, drastically reducing the amount of energy consumption
Democracy and Synergy
The blockchain use an open-source principle, it works as a voting system to determine what happens next. AI algorithms is centralized, organizations and cloud services like Google, Facebook, Apple etc build and controls them. With blockchain, Al will become decentralized and democratizes. AI engineers and developers can create blocks which experts, traders, researchers and even enthusiasts can join therefore creating AI community. Participants then have the chance to decide how DAO is run. Blockchain can even act as a marketplace where AI algorithms can be traded.
Data encryption, protection and management
The expectations are that AI will build algorithms capable of relating with data in encrypted form. So, it can be said that encryption is one of the similarities of AI and Blockchain. Of course, daily interactions with internet services release personal data which needs maximum protection because such data are exposed to risks both for individuals and firms. AI being fast computers can manage blockchain in a more intelligent and smarter manner.
Once blockchain breaks data into blocks, AI will then perform managerial roles instead of human. Hence, privacy of data is achieved since human and organizational interference is eliminated. Blockchain and AI being two entity brought as one will not only eliminate data being stored in a single central reserve, but also blended to act as data backup and also build a unified feedback system. The combo is a perfectly secured decentralized database for the highly sensitive data they both generate.
Security and trust
Even in executing machine to machine transactions, trust is key. A core advantage of blockchain is security, and AI being built on centralized platform consumes large amount of data, sometimes the accuracy and correctness of these data needs to be double-checked by humans, in this regard, blockchain will break then into blocks and this will naturally decentralize AI, so, blockchain will act as an extra layer of security for AI ensuring wider accessibility and participation thereby machine-machine and human-machine operations are trusted and secured.
Basically, AI are practically robots that needs to be understood by humans I.e what they mean, say, do etc.. Robots also at first stage will need to observe and perceive their environment. So, blockchain can act as the mediator of understanding. Data being fed into blockchain can be broken into sections and automatically distributing each to the needed entity.
The current fear by critics and fans alike is that AI will create danger to human existence. Labour groups and workers also fear possible mass unemployment once AI is integrated to every sector. Amidst these fears, AI and blockchain combo will become the biggest drivers that will open and fasten the pace of future technology innovations introducing new paradigms and models to every sector, globally. Already, there are startups looking into the integration of blockchain into AI and are recording huge success at it. Worthy to note is Singularity.Net