Artificial Intelligence (AI) has been the most powerful technology which has fascinated a lot of people with its extensive capabilities. Blockchain, a new system of storing the data in an encrypted and distributed way has the capability to create a highly secured database and makes it transparent to all the people using it through distributed ledgers.
Blockchain is already changing our idea of internet transactions increasing the capability to make it viable to all. AI has opened new horizons for different spheres of business, allowing optimization of the routine work and switching the attention of human workers to tasks of more importance and complexity.
Let’s see how we can use AI and blockchain together!
The two most innovative technologies can be used in these two unique ways.
Blockchain can give more insights about the actions of AI algorithms
Artificial neural networks work on the capabilities where it tries to expand their reach to solutions with the help of complex algorithms. Yet, most of the programmers or developers who design this algorithm are really unaware of how these computers work internally and can't explain their way of thinking. Thus, AI works as a black box approach. Also, a computer's memory with its huge volume of information, must be able to train the algorithms to recognize the information that is important for us. But unfortunately, we can’t find any traces of how these algorithms really develop within the system.
So, to get all the insights about the development of the algorithms within the computer, blockchain may play a major role – in recording and validating the flow of its creation. If all the decisions of the AI system are recorded within the blockchain, then it becomes possible to receive the deeper information that can check the decisions taken by AI and to explain their logic. Also, the information stored cannot be falsified; blockchain here will ensure total security of the data.
AI can be used to enhance the working of the blockchain
Blockchain transactions are validated by miners who use different combinations to crack the right one. Yet, a lot of computing power and energy is wasted to perform this complex procedure. In order to minimize this effort, we can go with the machine learning approach to build the algorithms which will have the ability to crack the right code to speed up the validation process.
With this approach in mind, we can build blockchain integrated AI systems based on a parallel computing system. This consists of numerous nodes working together to get the results quickly and efficiently. This approach delivers maximum output and increases the scalability and throughput of the system.
The key advantages of merging these two technologies will enhance the system and makes it ready to analyze large sets of data quickly far more reliable and faster than done by human bias. All the computation will be divided between various nodes and the results will be integrated at the convergence node. This way the data is not being controlled by a centralized authority. At the same time, all the algorithm decisions and transactions history will be stored in database, which will make the information more secure and transparent.