Using blockchain technology, immutable records exist for all data, variables, and processes used by AIs for their decision-making. A blockchain includes immutable records of events that can be made auditable by each member in the network. Blockchain is considered to be a permanent, shared record, which functionally and in development make it the best alternative to be used to encode data in the future.
On the contrary, Blockchain is basically a technology that allows the encrypted storage of data in a distributed ledger. Blockchain is essentially a new system that could assist in the documentation of digital information with improved security and transparency.
Given the hype caused by the attractiveness of AI’s use cases both in business and personal content creation, blockchain technology could provide a safe and transparent method of managing and protecting the sensitive data used by AI models, thus increasing confidence in AI-based decisions and predictions. The superior simplicity, along with being able to access insights into the machine’s minds through blockchain, could aid the development of trust among the general public.
AI helps with mining blockchains in a very deliberate, smart, interactive manner through perfect learning data required for algorithms. The convergence of AI into the blockchain has arguably created the world’s most robust technology-enabled decision-making system, which is practically untameable, providing strong insights and decisions.
AI can be used to automate processes, make predictions, and optimize decisions, and blockchain technology can be used to build secure, transparent records of transactions and data. The tasks could be made more logical and understandable by connecting the distributed, decentralized, immutable ledger, which could register data as it passes through a machine-learning solution, essentially centralizing the process.
The distributed nature of the system would allow all of its computational power to be used at full capacity and for rapid analysis of massive datasets. To run and refine smart computers, the applications built on top of the AI need to handle massive amounts of data. The impossibility is due to the computer’s ability to parse data in amounts that we cannot even begin to imagine.
If all decisions made by AI systems are recorded on the Blockchain, then we would get an enormous database, and we would be able to verify decisions made by the AIs and interpret their rationale. Recording all decisions on the blockchain can assist in verifying decisions taken through the AI's consensus algorithms on the basis of data inputs given to them.
This investigation contributes to ongoing discussions about using AI to address challenges in blockchain technology, including network governance, data sharing, transaction validation, public-private key management, smart contract programming, the effectiveness of consensus protocols, and sophisticated cryptography and weak hash functions. Blockchains' digital records provide insights on the structure behind the AI, as well as into the provenance of data used, solving the challenge of explaining the AI.
The blockchain technology concept allows for distributed ledger systems, smart consensus contracts, asymmetric encryption, and a number of underlying technologies. Last year, blockchain and distributed ledger technology tied for the second highest importance after AI and machine learning, with 25% of respondents declaring blockchain and distributed ledger technology as critical for the future of commerce. The second trend is the rise of high-level cryptocurrency tools and distributed ledgers, popularly known by the terms blockchain or distributed ledger technology.
We can harness the power of Blockchain technologies, distributed ontologies, trusted execution, and high-level encryption to design an innovative infrastructure to power the AI Revolution. Using Blockchain with AI could affect various industries and offer dynamic ways of extracting privacy, power, data governance, security, and scalability. Private blockchain integrated with AI opens new possibilities to use cases and applications for B2B, leading to increased productivity, privacy, reliability, and transparency.
Both AI and blockchain enhance the capabilities of one another, thus providing better opportunities for agility and convenience. More fundamentally, blockchain systems enable a large-scale decentralization of social processes that formerly required large, trusted institutions that had to function on certain scales in order to deliver value to customers whilst being financially self-sustaining (generating profits) as large, trusted institutions. In summary, whereas AI systems helped to centralize power into fewer organizations capable of accessing and processing a vast amount of data, blockchain technologies helped individuals to protect their private information while enabling agents to create and share economic value on smaller operating scales.
When merging AI and blockchain technologies, the apps and algorithms for decentralized AI are built on top of the same view of a trusted, shared data platform for the storage of one’s knowledge, records, and decisions.
