Artificial Intelligence and Blockchain, What Is the Relationship?
Artificial intelligence and data make sense together. It can almost be said that artificial intelligence without data is meaningless. AI examines input data, analyzes it, and discovers logical patterns. Using its powerful libraries, AI achieves the ultimate solution and goal of processing. The current article intended to discuss the relationship between Artificial Intelligence and Blockchain.
Processors, processing power, and data storing are constant challenge in artificial intelligence. With the advent of blockchain networks that are almost the same age as artificial intelligence, there have been some interesting solutions to these challenges.
What is blockchain?
A blockchain is a network of nodes that holds information in a distributed form. We can liken it to a notebook. Consider a regular paper notebook. Each row that contains transaction information (e.g. deposit, withdrawal, etc.) is a hash in the blockchain. Each page of a paper notebook contains a limited number of lines, for example, twenty or thirty.
On the other hand, these so-called pages are called blocks in the blockchain and are connected to their previous and next pages. Eventually, the set of pages forms a booklet called a blockchain.
However, this booklet is not exclusive to individuals, organizations or governments. By creating a node, anyone can have unlimited access to all pages and transactions.
Of course, unlimited access does not mean that everyone can delete, manipulate, or modify blocks or hashes. Once the network approves a hash, it will no longer be possible to change or delete it. Privacy protection is also important in this network. These critical features make blockchain transactions transparent and reliable. This structure of data distribution reduces the risk of loss or misuse to almost zero.
Of course, blockchain also faces many challenges. The most important ones are the need for high processing power, energy consumption and a long time to confirm a transaction in the whole network.
What is artificial intelligence?
Intelligence is the ability to understand the logic of information apart from understanding it. There are two types of intelligence: individual intelligence and group intelligence.
As the name implies, AI is made up of two words, Intelligence and Artificial, so it is artificially constructed intelligence. Different types of artificial intelligence techniques are exist now. They include neural networks, vector-support machines, and tangled logic. These techniques are suitable to estimate missing data, finite element models, modelling interstate, economic, and robotic disputes.
Artificial intelligence and blockchain
Artificial intelligence and blockchain can work in synergy. Information is valuable and not only needs to be stored securely, but it needs to be exchanged safely. Under these circumstances, blockchain can securely transfer information to artificial intelligence thanks to its robust and reliable storage.
Training and education of artificial intelligence require very high computational power. Just as information can be shared on a blockchain network, so can computing power.
If these two technologies can complement each other, they will undoubtedly be able to make a lasting and powerful impact in all different industries. While many companies and businesses use the features of these two technologies separately, by combining the two, much better characteristics one can achieve. These achievements will reduce costs in addition to increasing accuracy, precision, and security.