Three Major Benefits of Integrating AI and Blockchain
Artificial Intelligence is probably the answer to every technological excellence in the digital era. It provides real growth to business and apart from giving machine learning, it has also contributed to simplifying human knowledge to a great extent. Hence, AI is a perfect fit.
Meanwhile, Blockchain is a new platform for digital information, which stores data in an encrypted, distributed ledger format. And because data is encoded and spread across various computer systems, it is safe from any tampering and can be read and updated only by those with permission.
• AI and Encryption
Blockchains are ideal for storing and securing highly sensitive and confidential data. Amazon, Netflix or Myntra uses the recommendation engines to suggest what we might like to buy, watch next and also provides suggestions based on previous purchases.
The information which is fed into these frameworks is profoundly personal. The organizations that deal in it must set up a lot of cash to meet the guidelines expected of them as far as information security is concerned. Furthermore, data breaches are a subject of concern as it is leading to the loss of personal data and are becoming increasingly common.
Therefore, blockchain is considered to be a secure platform as it holds data in an encrypted format.
Artificial Intelligence has a lot to offer when it comes to security. A developing field of AI is concerned with building calculations which are capable of working with information while it is still encrypted. Like any part of a data procedure which includes uncovering unencrypted information represents a security hazard, reducing these incidents could make things substantially more secure.
• Blockchain can aid in understanding AI functions
Decisions made by AI's can some of the time be hard for people to understand. This is because AI can assess a large number of variables independent of each other and then learn which ones are important and relevant to achieve a particular task.
Although AI is useful in many fields, if the public doesn't trust it, then its usefulness will be severely restricted. Recording the decision-making process on blockchains could be a step towards accomplishing the level of security and insight into robot minds that will be required to gain public trust.
• AI can manage Blockchains more efficiently
Artificial Intelligence can accomplish tasks more intelligently and thoughtfully as compared to humans. A machine learning algorithm will be more efficient and will instantaneously sharpen its skill when the right data is fed.
AI and blockchain are the much-hyped innovations which are proving their potentials to become more revolutionary technologies. Both, when integrated are enhancing the capabilities of each other.