Artificial Intelligence and Block Chain technology.Two of the hottest branches of technology that is there in the technological world. While the former uses a large amount of data for analysis and also to learn, the latter encrypts data and stores data.
PWC has predicted that by the year 2030 AI will have above 15 trillion in contribution to the world economy and blockchain technology will have about 3.1 trillion.
The Symbiotic Relationship of AI and BlockChain
Though from entirely different streams of technology, both Artificial Intelligence and Block Chain technology can benefit from one another. Artificial Intelligence uses a large amount of data to reach conclusions and it is imperative to find out how it has reached this decision. But due to the sheer volume of data that is being used, it is a seemingly impossible task. This is where blockchain technology comes. It when integrated with AI will store all information. This includes all the data processed by AI and each and every decision made by it, thus creating an audit trail of information that can be used to understand how it has reached this decision. In terms of blockchain technology it is used for crypto currency. We use a hashing algorithm to mine bitcoins and this uses a lot of processing power in ordinary computers as it uses brute force technique. Using AI we can polish this skill and use the computer more efficiently and move away from the brute force technique.
How AI and BlockChain help in Data protection
Artificial Intelligence uses data for continuous improvement of its own algorithms. BlockChain encrypts the data that is given to it. Combining these two, we can make an autonomous database that can be used by artificial intelligence. This way the data used will be secure and having a digital trail where the information can be audited. The use of blockchain technology can also be used to monetize data. Right now our information is not encrypted and anyone can access it. For large corporations this information is currency. By using blockchain technology to encrypt data we can ensure that our data is encrypted and can choose whom to give the data to for a price. Hence the whole trade of information exchange is made fair. Now AI algorithms have to go to online data market places to buy data instead of freely accessing it, hence ending the monopoly of large corporations in data hoarding.
