(September 02, 2020) – Every time we talk about the future, it is always nearly at hand because of the hype created around the two powerful technologies we are about to discuss – Artificial Intelligence (AI) and Blockchain. Both are unique in their own ways as they are both foundational and disruptively dominant in their own fields. But can they exist side by side and work together?
Since the beginning of computer technology, there has not been a time when man did stop to find the ultimate solution to make a computer mimic human thinking. Much effort has been poured in to realize this tech dream to fruition for commercial purposes. Many versions do come out, but most, if not all, fell short of becoming fully intelligent. They were robotic enough to function only within programmed systems. AI took the car industry by storm with newly designed cars driving without drivers using only opticals, sensors, GPS, and other state-of-the-art tech without human input. It would really be pretty thrilling to witness how these cars operate and decide based on gathered data. Only missing is the complete free will to be truly intelligent.
The success reaped by Bitcoin today is due to the Blockchain protocol upon which it was built. Its blueprint was the basis for the proliferation of many other cryptocurrency ventures. Many blockchain solutions were introduced along the way to sustain scalability in the crypto king’s development leading other industries to adopt its infrastructure. The autonomous smart contracts created upon the blockchain technology is of paramount importance as it implements decisions within fed information from contracting parties, anonymous as they are.
Smart contracts as decision-makers are now being tested to be integrated with Artificial Intelligence systems that would function as storage of information. As of the moment, smart contract execution is slow and far from real-time application. And while there are possibilities for integration, it is not the time yet. AI, for its part still has a long way to go before achieving its purest form. But the sophistication and processes around it are already bearing the resemblance of what an AI should be. And once it is in place, the reliance on the blockchain will increase. Blockchain has already brought itself to near perfection to be an asset class of its own. It’s the smart contracts’ turn to make things happen for itself.
AIs are learning machine models which can be shared on the blockchain without controlling intermediaries. Anyone interested can learn collaboratively by using an integrated AI within the blockchain. AI can also use the blockchain instead of a centralized server as a keeper of unbiased data as it is securely provided between like businesses to improve customer experience and better pricing. Data sequencing is an important aspect of deep learning neural networks. With blockchain, everything is recorded in a sequence and it would be easier to go back to see where things went wrong from an untampered record. AI can also serve to improve blockchain security, reliability, and efficiency. AI systems can detect and flag anomalies and unusual patterns enough to alert participants.
These two technologies are powerful in their own environments and the thought of combining the two for some useful purposes is still very much too early to create an impact in some real and tangible ways. There are too few yet experimenting on it but not applicable yet for viable commercial advantages to form part of any solution business-wise. Until then, we keep on experimenting.