Read views of Infosys experts on how blockchain technology offers an unprecedented opportunity to transform the transactions of the future, how its adoption will create newer value propositions and what is required for its integration into larger IT systems.

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Blockchain Next: Artificial Intelligence

Artificial Intelligence can be defined as the field of computer science dedicated to solving cognitive problems commonly associated with human intelligence, such as learning and pattern recognition. AI has been a fascinating concept of science fiction for decades but technological advancement has enabled organizations to leverage AI capabilities such as machine learning, deep learning, natural language processing, etc. for a variety of applications.

Technology giants such as Google, Facebook & IBM are developing AI technology to help people in all aspects of their lives from translations to healthcare. Facebook is developing AI Tech to enable people to communicate better while IBM is developing scalable AI models and tools such as natural language processing, speech and image recognition and reasoning.

The technology is set to change our lives and how we relate to technology but it still has some hurdles to overcome before we can realize its full potential.

Data is a key ingredient for AI training and this need has amplified the need for qualitative data. The perennial problem of getting access to quality data for training AI based models has significantly hampered the advancement of AI across multiple industries. The unavailability of quality data is either due to the fact that data is locked up in siloed databases or data owners have no incentive to trade data.

Blockchain's ability to guarantee the accuracy of data makes it useful for a number of AI applications, both for feeding data into AI systems and for recording the results of AI logic. Blockchain opens up the possibility for data owners to share de-personalized data using smart contracts to define the rules of the transaction. The model also opens up valuable data locked up in siloed databases for the advancement of AI/ML algorithms making this a unique win-win proposition for the data producer as well as the data consumer.

Blockchain also enables organization to comply with regulations by creating an audit trail of AI logic for research and prevention of catastrophes due to the autonomous and evolving nature of AI.

With the convergence of the two technologies, AI is able to address many security concerns associated with layers interfacing with blockchain networks. Advanced deep learning based cyber security algorithms enable prevention of data fraud as well as help organization optimize their energy consumption for data mining on the blockchain.

AI and blockchain enables the processing of encrypted data ensuring the secure transfer and processing of data further enabling the creation of a network for monetization of anonymized data.

The convergence of AI and blockchain stands to revolutionize organizations and our day to day lives as the world around us slowly transforms into our favorite science fiction movies filled with autonomous robots, cars and homes enabled by the access to vast amounts of data and security provided by these two technologies.

References:

https://www.forbes.com/sites/bernardmarr/2018/02/14/the-key-definitions-of-artificial-intelligence-ai-that-explain-its-importance/#614590c54f5d

https://www.techemergence.com/why-is-ai-todays-most-important-technology/

https://synapse.ai/

http://www.sahasramaaya.com/index.php/gaining-exposure/

https://barac.io/

https://itsblockchain.com/matrix-ai-open-source-ai-blockchain-platform/

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