Blockchain technology has been widely adopted globally, mainly due to spectacular traits and benefits it provides such as its transparent, immutable and decentralized platform. Artificial Intelligence (AI), on the other hand, is still a most debated initiative in the era as there are two distinct approaches towards the technology. One that believes it would help mankind, while one believes that it will threaten the whole ecosystem with its abilities.
Each technology has its degree of complexity and brings different types of leverage towards the humankind. Nevertheless, there have been several talks and planning on combining both AI and blockchain technology. For instance, during Blockshow Asia 2019 in Singapore, Dr Ben Goertzel, CEO of SingularityNET together with Toufi Saliba, CEO of Toda.Network are now working together to combine AI and blockchain.
Question is, would that make so much sense? Would the two make a great pair? Let’s find out.
How AI Can Improvise Blockchain
Blockchain is always associated with cryptocurrency which partly true, and cryptocurrency adaptation involves a great deal of mining. Mining is a process to acquire cryptocurrency and is known to have a high energy consumption. AI, on the other hand, is known to be very efficient in energy optimization.
Yes, blockchain is known to be very hard to hack and get into, however, there are still cases of unauthorized individuals who managed to get into the platform and steal as many things as they want throughout the history of blockchain. With this, AI can be a perfect ally to secure plications deployment, especially given the fixed structure of the system through its amazing learning ability.
Blockchain technology, although widespread and is being used globally still having issue with the lack of talents on research and development. Thus, it is possible to have AI agents to develop the platform, through learning and use cases of course. The AI agents can even interact and maintain the platform.
How Blockchain Can Improvise AI
Blockchain secured data sharing leads to more data being generated, eventually leads to more data training for AI agents making them more effective. AI is the “brain” and blockchain being the ledger that exercises the brain.
Lower Market Barrier
Blockchain will foster the creation of cleaner and more organized personal data and eventually allows the emergence of new marketplaces like what Ben Goertzel is trying to do with SingularityNET. Hence, combining AI and blockchain will provide a more fluid integration that lower the barrier to entry for smaller players and shrinks the competitive advantage of tech giants.
AI innovations are hard to find unless you are already in the field. Thus, with blockchain, all data can be decentralized, and it can be accessible by parties involved. Besides, using the blockchain platform all the data of AI are immutable, yet transparent.
Blockchain and AI are the two extreme sides of the technology spectrum: one fostering centralized intelligence on close data platforms, the other promoting decentralized applications in an open-data environment. However, if we find an intelligent way to make them work together, the total positive externalities could be amplified in a blink.
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Nurul is an English Language graduate who is highly passionate on writing, she literally breathes on it. An avid reader and a critical thinker, she covers on blockchain news during day and weeps at sad novels at night.