How Blockchain Might Transform Artificial Intelligence

Blockchain – the technology that is expected to store 10% of the world GDP by 2025, as predicted by World Economic Forum report, is no more in its conceptual stage. We moved closer to a sound financial future in 2017 as the blockchain technology unveiled many of its practical use cases. It was one of the most important years for the digital assets ecosystem.

AI, on the other hand, has also undergone great transformation in the previous year. The AI researchers have finally cracked problems that they’ve worked on for years , from playing one of the most challenging of classical games for AI to human-level speech recognition. Big Data in the recent years have transformed AI to such a point that the ability to gather and learn on large piles of data has moved the error rates past the success line. A relatively new phenomenon suggests that Blockchain technology could transform AI too, in its own particular ways.

Blockchain is about keeping accurate records, validation, and execution whereas AI helps in decision making processes and evaluations of certain models and datasets. The convergence of these two breakthrough technologies may unlock a plethora of revolutionary opportunities. A few characteristics shared by both include data sharing, security and trust requirements.

We have previously analyzed how blockchain might change payments for small businesses and blockchain reclaiming the immutability of data. Let’s now explore the ways how blockchain can transform AI in the years ahead:  

Addressing AI’s Interpretability Problem

The AI black-box undergoes an explainability problem. The trade-offs between the smartness and transparencies of AI also grow in complexity as the AI systems get more complex.  Having a clear audit trail can improve the credibility of data and the models but also offers a clear route to trace back the machine decision process.

Easy Data Accessibility

AI widely depends on collecting the data from a wide range of sources and running various models on it. Blockchain can deal with the issue of data inaccessibility by introducing the concept of peer-to-peer connection. Blockchain is an open distributed registry through which the data becomes accessible to everyone on the network. This way, every user on the network has access to the data which can take AI forward.

Large Scale Data Management

Blockchains are basically distributed databases that exist on millions of devices across the world. This helps keeping multiple copies of the data to prevent valuable data from being lost. Even in the case of expected catastrophic occurences, there is going to be enough copies of data to keep the essential system intact and unharmed.

The blockchain startups that use Artificial Intelligence are Augur, Cindicator and NumerAI. More and more companies’ are jumping on the bandwagon of employing new technologies for their businesses. Do you think that the hype over the convergence of blockchain technology and AI is as promising as it seems?  Leave a response in the comments below.

For over 25 years, we have been working as a software development partner to Fortune 100 companies, large enterprises and technology challengers. Our team of 200+ engineers and data scientists offers a wide range of software engineering and consultancy services. Let us build your blockchain application and help you get noticed! 

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