Artificial intelligence and blockchain are the most debated technologies right now. They both have a promising future in the industry. Whereas blockchain is a distributed, digital ledger that simplifies the recording of transactions and asset tracking in corporate networks. Artificial intelligence, on the other hand, uses computers and machines to simulate the problem-solving and decision-making abilities of the human mind. In this post, we’ll look at how artificial intelligence and blockchain technology can work together to create strong solutions. But first, let’s go through their basics.
What Is Blockchain Technology?
Blockchain technology is a means of storing data that makes it difficult or impossible to manipulate, hack, or deceive the system. It stores data in a digital manner. Blockchains are famous for their crucial function in maintaining a secure and transparent record of transactions in cryptocurrency systems such as Bitcoin.
Blockchain is a particularly promising and revolutionary technology. It reduces uncertainty, prevents fraud, and provides total transparency for various applications. The inherent security features of blockchain, and its public ledger, make it an ideal technology for practically every industry.
What Is Artificial Intelligence?
Artificial intelligence is affecting practically every business and the future of every human being. It has fueled the development of technologies such as big data, robots, and the Internet of Things. In the foreseeable future, it will continue to be a technical trailblazer. Machine learning, deep learning, and a plethora of other programmable skills are the main components of AI. Artificial intelligence aspires to process and respond to data in similar ways to humans.
Most AI systems in development today are expert systems that make judgments based on a knowledge database. Many researchers, on the other hand, are working to develop AI systems that can apply truly intelligent decision-making processes to a limited set of problems, some of which could have a great impact on our lives.
How AI and Blockchain Both Cancel Each Other’s Challenges
Blockchain is an extremely expensive medium for storing vast volumes of data in its traditional form. Keeping huge files or documents on the Bitcoin blockchain, for example, is prohibitively expensive due to the one-megabyte size restriction per block. To address this issue, data is stored on a decentralized storage medium, and hashes of the data are connected to blockchain blocks or used within the blockchain smart contract code.
By merging Artificial Intelligence and blockchain technologies, decentralized AI apps and algorithms can be built with access to an identical vision of a secure, trusted, and shared platform of data, records, knowledge, and decisions. This type of platform is useful for keeping a reliable record of all recordings made by AI algorithms before, during, and after the learning and decision-making process.
The Idea Of A Decentralized AI System
Decentralized artificial intelligence is a concept that provides for processor independence without the drawbacks of sharing aggregate knowledge. It allows the user to process information independently across a variety of computing devices or apparatuses. By doing so, one can get diverse findings and then evaluate the data to come up with fresh solutions to problems that a centralized AI system wouldn’t be able to solve. Decentralized AI has enormous possibilities for enterprises, science, and the general public. Overall, it will allow devices to overcome difficulty through real-world challenges, reasoning, and trial-and-error, all while recording the results.
People will have a clear and consistent structure in place that explains how things function thanks to decentralized artificial intelligence. AI approaches that use blockchain can provide decentralized learning by facilitating the trust and secure sharing of knowledge and decision results across a large number of autonomous agents that can contribute, coordinate, and vote on future decisions. However, systems with significant compute power, storage, and rapid connectivity are necessary to fully realize the promise of decentralized AI.
Three Security Methods For The Decentralized AI Platform
Three security techniques, in particular, are becoming increasingly popular in decentralized AI frameworks. Here they are:
Secured Multi-Party Computations (SMPC)
Another security technique is secure multi-party computations (SMPC), which allows you to make statements about datasets without revealing the dataset itself. It’s at the heart of innovative blockchain technologies like Enigma. This security method assures that a public function is computed using private data while keeping the inputs hidden. As a result, secure multi-party computations (SMPC) architects enable the development of AI models without disclosing datasets to external parties.
GAN cryptography, or adversarial neural cryptography, is a new AI method for safeguarding communication between parties that uses GAN. In a 2016 research article titled Learning to Protect Communications with Adversarial Neural Cryptography, Google introduced this term called GAN cryptography. The research shows how to defend communication channels from attackers that try to break security systems with neural networks. These networks create new types of encryption and decryption on the run.
Homomorphic encryption differs from other types of encryption. It enables computations on encrypted data without requiring the use of a secret key. The outcome of such a computation is encrypted, and the owner of the secret key can decrypt it later. Homomorphic encryption is widely regarded as one of the most significant advances in cryptography in the recent decade. This decentralized AI application allows users to submit data to training models while keeping it private from others.
Harness The Combined Power Of Artificial Intelligence & Blockchain Technology
By combining the two technological ecosystems, many of the problems of AI and Blockchain can be overcome. When Artificial Intelligence and blockchain are combined, they can build a safe, immutable, decentralized system. This approach leads to major data and information security advances in various industries, including medical, personal, banking, and more. However, the convergence of artificial intelligence and blockchain technology is still mostly unexplored territory. Despite the fact that the integration of the two technologies has attracted considerable scholarly attention, projects devoted to this ground-breaking combination are still in little supply.
Bringing the two technologies together Artificial intelligence and blockchain technology enable data to be used in previously unimagined ways. With each of these technologies being able to affect and execute on data in distinct ways, their collaboration makes logical, and it has the potential to push data exploitation to new heights. One can also use AI to its best extent in their business. This necessitates enlisting the assistance of a reliable partner who can assist you in reaping the value of AI in your business. And, it is none other than Ksolves, an artificial intelligence development company. This best AI/ML consulting company or AI app development company offers cutting-edge AI solutions based on current trends and has experience in a variety of industries. As a result, they have become a well-known provider of Artificial Intelligence implementation services.