Artificial
intelligence at present with its development has seen various uses in different
domains and industries in the past few years. And blockchain technology has
been changing the way the data is stored, shared and even accessed. Both these
technologies have bought disruption in the way things worked. So what happens
when AI and Blockchain are merged? A way of securing and sharing the data. AI
imparts intelligence and Blockchain technology imparts security.
How is this
combination of technology beneficial?
- Cost and time effectiveness: Deloitte predicted that organizations are investing an upwards of 10$ million in the coming years. Artificial Intelligence with its machine learning can learn more about the environment and share real-time information and predictions to enhance productivity and accelerate business processes. Also for crypto miners, AI can analyze the pattern and identify useless transactions and performance so they can effectively manage their resources.
- Data Insurance: AI is dependent on data. It gathers data from humans and other data inputs. All this vital can be stored securely and have a track maintained by Blockchain. Since it's decentralized and has data stored on every computer on the network it is immutable to hacks and unauthorized changes
- Trust: As no authorized changes
can take place for the data stored on the blockchain network and same can
be accessed with the need of a central server. With AI, it can learn about
the data structure and accordingly behave. Together with giving accurate
data analysis and security.
Here's a use of
Artificial Intelligence and Blockchain together
Researchers often face
an issue of data availability. Why :
- No access to data.
- Trust factor.
- Red tapism of government.
To overcome this OCEAN
protocol was formed. It essentially uses blockchain development as the access layer to
manage the authorization of data and let researchers use AI to run the
algorithm on data. Data owners can securely share the data in form data silos
with letting researchers to extract data from them and execute the algorithm
with the silo's itself. "Ocean unlocks the value in private data while
addressing privacy and data concerns" - Hackernoon
Both technologies when
merged can ultimately lead to hassle-free data management.
Original Source: https://www.w3villa.com/blog/ai-blockchain-technologies-to-offer-secure-data-sharing