Blockchain and AI. In what way can these two revolutionary industries complement each other for the sake of humanity? (Partner’s article)

Blockchain and AI. In what way can these two revolutionary industries complement each other for the sake of humanity? (Partner’s article)

Scientists have been actively studying Blockchain technology and Artificial Intelligence (AI). These two revolutionary directions are able to transform the world, provide excellent opportunities for the information flow and achieve the new standard of living for humanity in general.

But is it such a rosy picture in reality? Can these two industries be of mutual benefit to each other, or their interconnection will turn out to be a threat to humanity?

Intersection of AI and Blockchain

The key feature of Artificial Intelligence is the imperfection of modern data models. This is about the poor quality of information and impossibility to identify its source. In particular, speaking about social media, which became an integral part of our everyday life, AI fails to verify such a huge volume of information.

Data from computerized systems and sensors face a similar problem. It is impossible to understand whether this data is accurate and to what extent. And what if some part of the system has been hacked? Or, for instance, some sensor is inaccurate? Alas, but it’s beyond AI’s capacity to identify such things.

Low-quality or distorted information influences the AI model design. In this case, all of its work becomes useless. A perfect example of this was in 2015 when the German auto group Volkswagen was seriously affected by inaccurate performance of the vehicles software. At that time, millions of diesel cars were underrating the data on air emissions.

Last year the head of Volkswagen was accused of deliberate fraud. But the fact remains – vehicles’ software was outfitted with incorrect data for calculation. Conclusion: AI model in unable to identify on its own whether the information is “correct” or “incorrect”.

One of the major investors and experts in engineering, billionaire Elon Musk believes that blockchain technology can play a significant role in AI development. However, he stresses that AI development alone is the greatest threat to humanity.

Machine learning and AI methods, which provide a competitive advantage, are accompanied by a number of risks. Firstly, it’s the field of activity where they want to use this technology: if it turns out to be inappropriate – it may cause a real disaster.

The billionaire believes that AI on blockchain will be able to minimize the risks significantly. Decentralized system makes it possible to identify the error, trace the data, what source the “distortion” came from, and finally not to include any incorrect information in the AI model.

Musk highlighted that these two technologies are not ready to exist separately, let alone competing with each other.

Blockchain and Artificial Intelligence: why it is going to be widespread in 10 years’ time

Interesting fact

Maksym Korotkov (Grow Food) considers that as a result of the interaction between blockchain and AI 60% of food industry will be working with the help of innovations. Ordinary cafes and restaurants

According to Elon Musk, AI realization should first of all be based on user security. The engineer believes that it would be nice to create some regulatory body to prevent “us from doing something foolish”.

Indeed, currently AI models creation requires appropriate search and access to disparate databases. In spite of the information flow in the network and the creation of computing capacity it is still extremely hard to find the info you need. In most cases, it is related to its relevance: sometimes, when the request is more specified it turns out that the available data is not appropriate.

Besides, there is some particular data which is stored exclusively by the business owners. They are thoroughly protecting this information, so if you need it – pay for it. And when you finally get this long-awaited access, frankly speaking, the data provided might not meet your request in full.

This is particularly true for scientists and researchers. They have no idea, which databases there are, where to search for them, and how to get the access. And in this case AI on blockchain is a perfect solution.

A unified database registry for AI would solve the problem and boost the artificial intelligence technology development. Decentralized registry on blockchain would be of great use to all the stakeholders.

It could be possible to download data from all over the world in it and control the access to it. Part of information can become publicly accessible for everyone. The other part, the one that private companies and public corporations would prefer to hush up, may be revealed upon request for a small fee. And this fee will immediately reach company owners’ accounts without any third parties involved in the deal.

A very important nuance – intellectual property (IP) rights. And it’s blockchain that can make it possible to confirm your IP rights. Based on these rights one will be able to identify who else has access to this model.

Interesting fact

Private blockchain has a limited number of individuals who can access these networks. Only an authorized person is able to verify transactions, carry out the audit and coordinate databases. In most cases, private blockchain is used by huge private and public corporations as well as executive authorities.

The role of AI and blockchain in environmental issues

Currently it’s hard to say whether the impact of blockchain and AI on environment is positive or negative and to what extent. If we are talking only about blockchain and bitcoin mining, the whole process requires vast energy consumption; in this case, the outcome for environment is undoubtedly negative.

The average amount of energy needed for the mining process, can be compared to energy consumption in the whole Nigeria. One bitcoin transaction requires circa 215 kW, and over 300,000 of such transactions can be made in one day. And if to compare it, say, with the household, the latter requires approximately 901 kWh in a month.

Interesting fact

Future trends by Egor Guriev, CEO at Playkey:

  • blockchain;
  • decentralization;
  • P2P models;
  • AI;
  • big data

Blockchain and AI can dramatically change the Earth’s ecosystem. Interaction between these two technologies is able to control and model the ecological situation in general. Microsoft Corporation has already launched the program of receiving grants for innovative development in the field of environment-related activities.

The company believes that it will allow the scientists to make more accurate projections of the Earth’s future. Moreover, it will warn humanity against such global disasters as typhoon, tsunami, landslide etc. It’s undoubtedly impossible to confront natural forces. However, it is quite feasible to notice, protect and isolate until the storm finishes.

Blockchain and AI in medicine

Blockchain projects and AI are the future of modern medicine. This is the motto of the companies that are investing heavily in technologies and their application in the sphere of health care. Robotic equipment will replace regular doctors. It will help to solve the problem connected with the scarcity of health professionals and the lack of up-to-date information.

Medical research shows that doctors are not familiar with those cutting-edge developments which can be used for treatment, and patients are becoming more and more demanding every year.

Average doctor, who graduated from the medical institute, did his internship and took part in many advanced training events, will soon be unable to meet his patients’ demands. In contrast to AI on blockchain which is “stuffed with” all the information in the world of health industry.

Blockchain and AI have unlimited opportunities. Starting with the fact that medical institutions will not have to keep record of their database and ending with neurosurgeries. A robot is a high-accuracy system. If its base is made properly – it will work like a charm and perform surgeries much faster than current doctors do. But human life will be the cost of this mistake.

Disclaimer: this material is provided by the business publication Login Casino and expresses its point of view. The organizer of Blockchain & Bitcoin Conference Kyiv is not responsible for and does not provide guarantees regarding the publication of facts, data, results and other information.

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