There is no doubt that artificial intelligence and blockchain are the hottest topics right now in the technology industry. People are amazed when they see machines showcase intelligence with each problem they solve at unbelievable speeds and decentralized networks with blockchain are only becoming more popular as Facebook recently fell under its data scandal. Separately, the two areas are already impressive. But what is their potential if combined to work together?
Increase blockchain security with artificial intelligence
Blockchain is all about encryption to keep data secure along its network and with complicated keys, it takes a lot of work for machines to decrypt the data. It would seem that blockchain keeps data pretty secure but when data is decrypted, it is exposed to the world to be potentially stolen. This is incredibly dangerous if the data contains sensitive information and especially if a business has to go through thousands of personal data. Luckily, artificial intelligence is here to up the security even further. Since artificial intelligence learns with each given task, it can be used to learn to work with encrypted data without ever decrypting the information, keeping personal data safer than ever.
Build trust with artificial intelligence
With the two working together, it will also help us understand artificial intelligence better and how it works. Currently, it is hard to understand the decisions it makes. What factors and decisions led to its choice? It’s a black box and since it’s not transparent, most people don’t trust it. How can you ever tell if it made the wrong choice? With blockchain, because of its step by step requirements, it gives us a trail of calculations and decisions that the artificial intelligence has to follow and in return, allows us to follow along its process and effectiveness.
Increase blockchain efficiency with artificial intelligence
Currently, in order for machines to decrypt information, they have to use up a lot of processing power to brute force its way through the encryption by trying every possible combination one at a time. In no way is this efficient as it takes up massive amounts of power and time. With artificial intelligence in the equation however, the machine can act “smarter” and instead of mechanically trying one combination at a time, it will learn to compute efficiently by learning from a set of training data.
There is undoubtedly unseen potential by combining the fields of artificial intelligence and blockchain that can help boost each side’s efficiency exponentially.