Artificial intelligence and blockchain are among the top tech trends that have been revolutionizing different industries over the past couple of years.
Even though both technologies are still in their infancy, their impact has been tremendous as they managed to facilitate the way we live and do business.
For example, we’re still far from achieving so-called artificial general intelligence (AGI), that is, a machine with human-like cognitive capabilities and with the same capacity to understand the world and its ways. However, AI has some super-human capabilities and can complete certain tasks much more accurately and quickly than any human being without making any mistakes.
Similarly, blockchain has immense potential to disrupt and streamline traditional business processes and fortify cyber-security.
Let’s explore how the synergy of these two technologies work and what it can do for us.
1. A Decentralized AI Marketplace
The team responsible for building Sophia, the first humanoid robot, decided to combine these two powerful technologies and create a decentralized AI marketplace.
They decided to connect scientists who develop AI tools and businesses that want to leverage this technology for their needs. The problem lies in the fact that most companies need customized solutions, and scientists need access to massive data sets to create such powerful AI and ML solutions.
That’s where a decentralized AI marketplace such as SingularityNET comes in as it allows developers to build, sell, or exchange their tools, data, and AI algorithms for SingularityNET’s AGI tokens.
This blockchain-based AI marketplace uses smart contracts to facilitate all these transactions, and its purpose is to encourage the development and funding of AI projects.
2. Debunking Fake News and Disinformation
The internet and mass media have made different information more accessible than ever, connecting the entire world in a global village.
This means that we can learn about something that happened on another continent just a couple of minutes ago. But besides improving the way we communicate, this new technology comes with some major downsides – a flood of fake news and misinformation.
Social media platforms are packed with viral posts that contain false information, and sometimes it’s virtually impossible to tell it apart from the truth. Images can be doctored and videos manipulated so that we can’t rely on these formats in our search for objectivity and truth.
Blackbird.AI is a platform that leverages artificial intelligence and blockchain to check and analyze content and establish its authenticity and filter out fake news. This solution features credibility indicators with which it’s possible to sift through the information and distinguish between fake news, satire, and misinformation.
3. Fighting Cybercrime
If we bear in mind that there’s a cyberattack every 39 seconds, it’s clear that this malicious practice poses a real threat to both businesses and individuals.
Cybercrime is particularly risky when it comes to financial services and businesses handling sensitive information. Given that the volume of online financial transactions has been increasing, banks and companies that process payments need to make sure that their clients’ personal information is protected against these threats.
A multifaceted approach that leverages artificial intelligence and blockchain can be used to fight cybercrime.
First of all, blockchain is a decentralized, digital ledger distributed among numerous nodes. That’s the reason why it’s virtually impossible to tamper with completed transactions retroactively, meaning that the information recorded within this ledger is practically immutable.
In other words, blockchain allows for:
- Greater transparency. All the participants in a particular blockchain network can see that a transaction has taken place, which is why it can’t be altered without their consent – everybody has to agree with and approve a change.
- Improved security. The fact that every transaction has to be agreed upon before it’s approved prevents taking unauthorized action. In addition to that, transactions are encrypted and stored on every computer in a network. Hence, cybercriminals can’t easily manipulate data and compromise it.
Secondly, AI, which can process and interpret massive amounts of data, plays a vital role in cybersecurity. It analyzes customer information and behavior and spots unusual patterns that raise red flags. For example, if someone withdraws an uncharacteristically large sum of money for that particular account, AI will detect it, inform the owner, and ask for confirmation.
4. Intelligent Supply Chain
The logistics industry can significantly benefit from these innovative technologies, especially when it comes to effective supply chain management.
Customers want to be able to order easily and keep track of the shipment until they receive it. Virtual AI assistants can help with this aspect of online shopping and automate customer support.
However, a lack of transparency across different supply chains is one of the most common challenges, and blockchain can help solve it. This digital, distributed ledger is perfect for recording the quantity and transfer of products while they move from the warehouse to the end customer. Smart contracts will eliminate delays and manual handling of paperwork.
At the same time, AI and its ability to extract valuable insights from huge sets of data will make sure that the inventory is always adequately managed and stocked. Besides, it can also predict future demand based on a wide array of parameters.
5. Making Predictions
Imagine having a supercomputer that uses mammoth amounts of data for making predictions and forecasts about virtually anything that you can think of.
Neureal is a powerful tool that combines artificial intelligence and blockchain to achieve this goal. It leverages predictive algorithms, neural networks, as well as human and machine-powered predictions to make accurate forecasts.
In other words, it can predict everything from a heart attack to traffic jams and help its users prevent dire consequences.
It works in the following manner: when you want any kind of prediction, use Neureal and offer any information you think is relevant, as well as an incentive for the person who provides the most accurate forecast.
These two technologies will revolutionize different spheres of our life, and the best thing is that both regular users and enterprises will benefit from them.
