Blockchain has become a buzz word being heard in different innovation sectors. Our future economy will be much more decentralized with Block chain. I have written in my earlier articles about Block chain introduction in BLOCKCHAIN: A better step to future and also about the emerging new technology of issuing Digital certificates in BLOCKCHAINED CERTIFICATES. Now, I am looking at how this Blockchain could unlock the new cutting-edge technology: Artificial Intelligence (AI). Both technologies create new unimaginable business solutions with steady and transparent transactions without human intervention.
We should first look into the benefits that would result by the convergence of these two technologies:
First, Blockchain provides strong authenticity for storing the highly sensitive personal data. Blockchain holds the information in an encrypted state and AI enhances this security. AI has the capability of working with data that is still in an encrypted state.
Second, Blockchain helps us track, understand and explain the decisions made by AI. As decisions made by AI are, sometimes, hard to understand for humans due to AI being capable of assessing large amount of information. Any decisions, thus, made by AI accounting to fraudulent can be blocked and investigated by Blockchain.
Third, AI can manage Blockchain more efficiently than humans. The operating of encrypted blockchain data requires large amounts of computer processing power.
Blockchain and AI, the technological trends, having their own significance of technical complexity and business implications will become revolutionary when put together. They enhance the capabilities of each other and together catalyze the pace of innovation leading to new opportunities.
Blockchain and AI, together, are propelling innovations in any industry. For example, Porsche, in partnership with XIAN, is using Blockchain and AI in its smart vehicles. It is using several blockchain based applications for charging and parking of the vehicles.
The convergence of these two groundbreaking technologies could lead into a revolutionized progress. Some of the companies identified that are working on the current ladder of innovation:
It is one of the leading projects of AI. It’s team consists of 50+ AI developers and 10+ PhDs. Dr. Ben Goertzel, the CEO and Chief Scientist is also the Chairman of the OpenCog Foundation and the Artificial General Intelligence Society, and also the Chief Scientist at Hanson Robotics, the partner company of SingularityNET.
Dr. David Hanson, founder of Hanson Robotics, serves as the Robotics Lead of SingularityNET. Hanson Robotics built Sophia, the most expressive humanoid robot till date which is also a proud member of the SingularityNET team.
SingularityNET aims at creating a decentralized AI marketplace for individuals and companies to buy and sell data and algorithms. This does not include any central authority to decide on the trade, in fact, anyone can sell the algorithms they have created. In this marketplace, the AI developers can exchange their tools/services for SingularityNET AGI token
Neureal.net (part of Blockchain):
Neureal is a combination of Blockchain and AI technology that could become the world’s most accurate predictor. Jen Greyson, CEO at Neureal, has mentioned that Neureal is a platform that allows anyone to predict about, like hurricane paths, the extinction of a species, climate change, or medical advancement, data that is relevant to their prediction and also includes reward for the most precise predictors in the form of their currency- Neurons.
It allows the users to ask about the future the same way how we ask Google about past and present.
He Yong, CEO of DeepBrain Chain, aims at making it a blockchain powered platform for all calculations and storage of information related to AI. Based on the needs of AI companies, DeepBrain Chain will offer customized services. BeepBrain Chain aims at saving 70% on the computing costs of the companies and simultaneously protecting the data through artificial intelligence and deep learning.
Matrix AI Network:
Matrix, developed by Owen Tao– CEO of Matrix AI Network, is a blockchain platform used by anyone to create smart contracts in their native language. Users can express in their own language which will be converted into smart contract. Matrix AI helps in creating smart contracts without the help of hiring programmers. The AI in Matrix AI is used for 2 purposes, firstly AI detects errors automatically in the smart contracts and second, AI helps making the platform self-optimizing.
The Matrix platform makes the smart contracts process faster, easier, more secure, and highly flexible.
The above mentioned companies use the convergence of Blockchain and AI in each different way. The services of the products of these firms’ stands as an example of how our future is going to be.
Other Article: Convergence Of Blockchain & AI by SpringPeople