It seems as though every time we pick up our phone nowadays, we’re bombarded with new artificial intelligence (AI) applications and machine learning (ML) algorithms to track our spending habits and offer help with technological difficulties.
Likewise, in your web browsing, we’re sure you’ve come across advertisements for cutting-edge blockchain technologies and the benefits of “the block”.
To serve our Dallas community, we dedicate immense resources and time investment to thrive in these new cutting-edge technologies. With the help of Dogtown Media, you no longer need to rely on internal resources to get the job done. Partnering with us means you have a trusted advisor in your corner who is an expert in all things blockchain.
Needless to say, these two technologies are completely different from one another. For instance, AI is essentially the ability of computer programs to mimic or even learn the intelligence of humans as a means for these programs to provide smarter insight. On the other hand, blockchain is a shared digital ledger, commonly associated with cryptocurrency to record transactions and track assets.
What if, however, these two technologies were combined with each other? Now that is an interesting development. In theory, due to the immense learning capabilities of AI and the vast data storage of blockchain, the combination of these two technologies should yield a highly-capable AI platform with the ability to utilize and store colossal amounts of data.
Throughout this article, we will be discussing some of the numerous benefits that blockchain technology can provide for AI. With this information, we hope to provide you with food for thought as you consider leveraging blockchain technology within your next AI application.
Blockchain Brings Authenticity to AI
One of the biggest questions surrounding AI is, “how do I know the information is accurate?”. In other words, because AI is still in its infancy, concerns about authenticity regarding the data it reviews and the insights it provides, otherwise known as explainable AI, is a legitimate concern. And, in many cases, the framework of AI and the data it’s using isn’t provided to it’s users.
This is where blockchain comes into play. As we mentioned earlier, blockchain technology is a vast and visible digital ledger with the ability to store a virtually infinite amount of data. Because of this, using blockchain in conjunction with AI can very well offer insight into AI’s framework as well as where it gathers its data from. In essence, by using blockchain to store and distribute AI models, this pair can improve the trust and integrity of AI-gathered data and insights.
Advanced Automation and Integration
Nowadays, businesses are constantly seeking out ways to automate each and every aspect of their operations. And, up until now, finding ways to achieve and integrate this harmonious system of automation has been a rather difficult task. By combining blockchain technology with AI, however, businesses may very well have the automation master key that they’ve been looking for.
More specifically, the addition of blockchain technology to AI has the potential to bring new automation opportunities to businesses by virtually eliminating friction, adding speed, and increasing operational efficiency. For instance, by storing AI models in blockchain smart contracts, AI would have the ability to execute transactions, such as paying bills or initiating re-orders, resolve potential disputes, and derive the quickest and most efficient shipping methods.
How About Augmentation?
Yes, the combination of blockchain technology and artificial intelligence has the capability to create a smarter, more scalable system of augmentation. As we discussed previously, AI’s ability to rapidly read, understand, and correlate datasets combined with blockchain technology can provide blockchain-based businesses with highly intelligent and efficient AI models.
For example, by storing and allowing access to large datasets from both inside and outside an organization, blockchain provides AI with the ability to achieve more actionable recommendations, effortlessly manage data usage, and ultimately create a trustworthy and transparent approach to data-driven insights.
Increasing Trust Behind AI
As we mentioned prior, the concept of explainable AI leaves many users wary of the trustworthiness of AI-derived insights. By using AI in conjunction with blockchain, however, we now have the potential to virtually eliminate these concerns.
For instance, by using blockchain ledgers as a digital rights management platform, your data would only be permitted for AI use if you allow it, helping keep track of the datasets AI platforms utilize. Likewise, with blockchain technology, AI models can prove their trustworthiness by allowing users to track the provenance of the data. Lastly, when explaining AI decisions, blockchain technology can aid in the clarification of transparency and understanding of AI-derived outcomes and decisions.
By utilizing blockchain technology in conjunction with artificial intelligence, a number of new use cases can be unlocked within different industries such as healthcare, life sciences, financial services, and the supply chain to name a few. So, next time you question the authenticity and capabilities of AI, realize that these limitations can be solved with just a little bit of blockchain.
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