Blockchain capabilities: How artificial intelligence can change distributed scripts

Blockchain capabilities: How artificial intelligence can change distributed scripts – Mail Bonus

One reason is that the use of blockchain in a distributed ledger provides insight into the functionality of artificial intelligence systems and the source of data that these platforms may use. As a result, it is possible to facilitate business with great trust while maintaining reliable data integrity. Not only that, but the use of blockchain systems to store and distribute artificial intelligence-based business models can help create an audit trail, which in turn allows for increased data security.

Furthermore, the combination of artificial intelligence and blockchain, at least on paper, seems to be extremely powerful, capable of improving almost any industry in which it is implemented. For example, the combination tends to improve the current food supply transport system, ecosystems shared by health records, media distribution platforms and financial security systems.

That said, while there are many projects out there that promote the use of this technology, what benefits do they offer realistically, especially since many artificial intelligence experts believe the technology is still in its infancy? There are many companies that are marketing the use of artificial intelligence as part of their current offering, which gives rise to the vague question: What’s really going on here?

As the cryptocurrency market has continued to grow from strength to strength over the past two years, the concept of artificial intelligence (AI) entering the field of cryptocurrency / blockchain technology has continued to garner worldwide interest.

Do artificial intelligence and blockchain fit well together?

To gain a broader and deeper understanding of the subject, Cointelegraph spoke with Arunkumar Krishnakumar, growth manager at Bullieverse – an open world 3D metaverse game platform that uses elements of artificial intelligence. In his opinion, both blockchain and artificial intelligence address different aspects of the overall life cycle of a database.

Kismet, a robot experiment in emotional computing and artificial intelligence.

While blockchain is primarily about things like data integrity and immutability – ensuring that the data on the blockchain is of high quality – uses artificially stored data that is efficiently stored to provide meaningful and timely insights that scientists, experts and developers can provide. responded. Krishnakumar added:

“AI can help us not only make the right decisions through specific situations, but it can also make predictions as they become more skilled and intelligent. However, blockchain as a framework is quite capable of being an information superhighway, provided that the flexibility and performance factors are taken into account as this technology matures.

When asked if artificial intelligence was too new a technology to have any effect on the real world, he said that like most technological ideas, including artificial intelligence, dosing computers and even blockchain, these ideas were still in the early stages of adoption. He likened the situation to the Web2 boom of the 1990s, when people are only now beginning to realize the need for high-quality data to train machines.

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Furthermore, he pointed out that there are already some daily use cases for artificial intelligence that most people take for granted in their daily lives. “We have artificial intelligence algorithms that talk to us on our phones and automation systems at home that monitor social attitudes, predict cyberattacks, etc.,” Krishnakumar said.

Ahmed Ismail, CEO and President of Fluid – AI Quantitative Financial Platform – pointed out that there are many examples of AI benefiting the blockchain. A perfect example of this combination, according to Ismail, are encryption-free fundraisers that use a subset of artificial intelligence and machine learning to perform deep data analysis, provide price forecasts, and offer optimized business strategies to identify current / future market phenomena:

“The combination can help users take advantage of the best opportunities. What this really means is too little secrecy and too little cost of disintegrating liquidity – the multi-billion dollar problem that plagues the virtual real estate market today.

On a more holistic note, Ismail pointed out that every technology needs to go through a cycle of development and development. At this point, he pointed out that even as the banking and financial sectors began to adopt digital assets, there was widespread concern that these assets had been successful enough to be successfully implemented. “AI and its subset bring huge benefits to the cryptocurrency industry but should be presented ethically with a long-term vision at its core,” he concluded.

It may require more work

According to Humayun Sheikh, CEO of Fetch.ai – a blockchain project aimed at introducing artificial intelligence into the cryptocurrency economy – as Web3 and blockchain technology evolve, artificial intelligence will be an important element needed to bring new value to businesses, adding:

“Distributed artificial intelligence can remove intermediaries in today’s digital economy and connect companies directly to consumers. It can also provide access to large amounts of data inside and outside the enterprise, which when analyzed using an artificial intelligence scale can provide more mutual insight, control data usage and model sharing, and create a reliable and transparent data economy.

Regarding the gap between artificial intelligence and the obvious lack of use cases, Sheikh believes that the dichotomy does not hold up as there are already many use cases for everyone to see. Fetch.ai, for example, has been building systems to deploy artificial intelligence and blockchain within supply chain ecosystems, automated framework for parking, distributed finance (DeFi) and more. Fetch also plans to release consumer-friendly artificial intelligence applications starting in the United States in the near future.

However, Krishnakumar believes that more needs to be done when it comes to making artificial intelligence more efficient data in order to truly serve the world on a large scale. At this point, he pointed out that with the advent of quantum mechanics, artificial intelligence could scale heights like never before, adding:

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“For example, this can reduce the time it takes to find a drug from 12 years to several years that could be at stake. Another example is the modeling of nitrogen fixation and its industrialization to reduce carbon emissions in fertilizer plants. Model protein fractures and providing customized cancer drugs are another possible use case. “

Need blockchain artificial intelligence to be successful?

Chung Dao, CEO and co-founder of Oraichain – a smart contract and decentralized application platform – believes that blockchain technology is more than what most people would believe it to be, a closed world of financial business with no connection to the real world. assets and events. He told the Cointelegraph:

“AI must come to help blockchain recognize the real world of utility, increase its usefulness and make intelligent decisions. Both technologies are at an early stage, but not ‘very early’. There are many successful artificial intelligence solutions that know patterns better than humans and there are: no doubt many benefits of automation in many companies. “

Dao pointed out that there is already a powerful infrastructure for artificial intelligence ready to be implemented on top of existing blockchain technology, which can increase “trust, identification and decentralization” throughout the space. In this context, Oraichain has dedicated an entire ecosystem to this: The project uses an oracle system that integrates artificial intelligence into smart contracts as well as harnessing the power of an artificial intelligence-based data management system and marketplace.

Therefore, as we enter a future driven by the principles of devolution, it is clear that futuristic technologies such as artificial intelligence will continue to gain a foothold in the international cryptocurrency landscape in the coming months and years.