Artificial Intelligence empowered by Blockchain

Use of Blockchain based datasets by Artificial Intelligence (AI) has the capability to change the way data can be used across variety of sectors in the industry. The issues encountered by AI are data privacy, security and trust. These areas are where solutions provided by Blockchain can be used to overcome these issues.

The advantage that Blockchain brings is decentralization which could be used to overcome trust issues, distributed networks can be used to overcome the security issues and cryptography to overcome the issues of data privacy.

1. 1. The architecture of Blockchain is essentially decentralized which means that decisions are taken by a majority of the participants on the network and hence there is dependence on a centralized system. Thus, trust issues which essentially involves not only verifying and validating the given datasets, it also helps to overcome attempts to manipulate the dataset to avoid biased outcomes. Ideally, for data to be verified and validated requires a 51 percent majority to agree on it. AI requires large amounts of datasets to reach at a particular decision and hence it is crucial for the datasets to be unbiased as well avoiding the issues of corruption where the dataset belongs to a centralized system.

1. 1. Distributed networks ensures that a large number participants holding multiple copies of the same dataset. This allows datasets on Blockchain to be tamper resistant. Any changes made to the data can easily be captured by conducting a simple audit. Hence Blockchain brings in reliability of data and ensures high standards of quality, which when used in AI brings about good outcomes as has been seen in the Healthcare and Finance industry. Distributed networks also allows for ease in sharing of data as well which is a necessity for algorithms used in AI.

1. 1. The use of asymmetric cryptography provides for secure encryption and decryption of data resulting in ensuring data privacy. Moreover, use of smart contracts, can easily automate delivery of relevant datasets to AI algorithms.

Recent times have witnessed significant advancement in the use of AI across various business functions thus unleashing the power of data. Hence efficient systems become the need of the hour where research on the use Blockchain in AI is being undertaken extensively.