How Blockchain has the power to transform Artificial Intelligence

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Artificial Intelligence (AI) has been used in many different fields already, including healthcare, education, and finance. But the AI used so far has only been designed to perform one specific task or a range of tasks which was already predefined. AI of this kind is known as “weak” AI, as opposed to “strong” AI, which has the ability to apply its intelligence to any task. All the AI currently in use – ranging from Intelligent Tutoring Systems (ITS) to Apple’s Siri – is weak at best. The path from here to a strong AI – an efficient and self-reliant AI – is through blockchain and data science. You can learn all about how this is possible through the various data science courses.

While research on improving the quality of AI has been going on for decades now, researchers have recently created smart systems which are much closer to the intelligence capabilities of humans. Contemporary advancements in data science have facilitated the organization of a huge amount of information into neatly constructed units which can be processed by computers very quickly. The Blockchain is one of these advancements; while most of its applications have employed the Blockchain as a mere logbook of transactions, still many of its applications are inching closer and closer to strong AI.

What does the Blockchain do?

So far the blockchain has found use in several industries. It has been used efficiently in money exchange markets as well as the mortgage and lending industry, where it is used to keep track of loan origination, trading, and payments. When the contractual basis of an agreement becomes “smart”, it ensures that the automated contingencies get executed when individual stakeholders fulfill their respective duties as laid out in the contract.

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In the retail industry, corporations like Walmart are working to implement the Blockchain to increase inventory control and decrease data redundancy. The reasoning behind such a move is that a supply chain based on the Blockchain will be a more efficient one, helping retailers maintain a steady stock in the store by tracking entire batches of products; this move will also ascertain that there are no errors while doing the same.

AI and Data Science

For AI to go from weak to strong, it will require continuous and unrestricted access to data, which becomes the source material through AI is built. The reason behind this is that AI consistently uses data to test and retest a set of possible solutions. As an AI system continues to work on these hypotheses, it can theoretically reach a point where it can make decisions outside a particular field with no human intervention. But to reach this state – let’s call it the capacity to be intuitive – any AI system will have to test the data of billions of transactions in a relatively smaller period of time. And this is where the Blockchain comes in.

How can the Blockchain advance AI?

The Blockchain is essentially a decentralized application which, depending on the context, works through a collection of multiple nodes to solve or render complex algorithms. The mining node which finds the first and best solution on the network makes the first entry to the blockchain ledger.

Artificial Intelligence too, follows a similar model when making decisions. Before any decision is taken by an AI system, all possible solutions – as well as all the possibilities that arise from any solution – are tested to check which outcome is the best. Only after this thorough process is concluded does an AI system make a decision, at which point it is the best possible decision to make in a particular scenario.

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With that process understood, here are some ways in which the blockchain can help advance the field of AI:

1. Data Sharing

The Blockchain makes an AI system more efficient because the task of testing hypothesis gets decentralized. This means that the central system no longer has to check all possibilities. The job then gets divided to the several nodes across the network, which results in a much faster process.

2. Extra Security

An AI system operating on one central processor can be hacked with relative ease as compared to one running on a blockchain platform. Each entry on a blockchain platform needs to be approved by a majority of the nodes on the network before they get added. Thus, the more nodes on a network, the tougher it gets to hack the system. Although it’s not impossible to hack an AI platform based on the blockchain, it’s comparatively safer to use it than other platforms.

3. Trust

The blockchain can provide much greater transparency than an AI system, which is usually closed. Any records maintained on a blockchain ledger may be reviewed at any time by people who are authorized to access the system. The database, however, remains encrypted, and those who do not have access will not be able to view anything. This can foster a sense of trust in the system.

In the healthcare industry, for instance, patients who have a history of medical complications would not want their records to be accessible to everyone. Through the use of blockchain, medical practitioners can access this data – while others won’t be able to – and can use it effectively in case of medical emergencies.

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4. Uncontested Field

Current AI databases have a lot of competition, given that similar methods and technologies are being used by businesses to get profits. This overcrowded space is referred to as a red ocean. A blockchain-based AI system will be a part of the uncontested blue ocean of markets. This is because the technology is just now being understood and has not been applied to its full potential yet. Moreover, it is secure and transparent as well, and can change the future of many industries!

These are only some of the ways in which data science can work wonders through blockchain and AI. Take one of online data science courses today and give your career the boost you’ve been wanting!