Blockchain and AI: Benefits of Integration

Blockchain and Artificial Intelligence are emerging technologies that transform many aspects of society. While both are different but complementary this gives more benefits. Blockchain is a shared ledger technology that protects the data and makes it immutable. On the other hand, AI is a computer or machine that mimics human-like behaviors such as problem-solving and decision-making. Blockchain allows decentralization of data storage and AI can recognize the threats organizations face. Bringing it together can provide a transparent data environment and increase security over sharing the data decentralized.

Uses of Artificial Intelligence

Artificial Intelligence nowadays is used in healthcare, marketing, banking, finance, and other industries. The usage of AI is also present in gaming and social networks. The data collected from the AI informs the services about the users interests which in turn enhances the quality of using the services or product.

AI-enhanced the marketing industries. We can search for the product in search engines and it will get us the relevant information without letting us log in to a website and search for the product.
AI in banking includes a chatbot that is a customer service portal that provides the best solutions and is run by artificial intelligence that eliminates the need for a human to serve the customer 24/7.
In finance industries, AI is used for predicting the future based on past data or using shared information.
Artificial Intelligence in the healthcare industry is used in Disease diagnosis, imaging, etc.,

And the list goes on.

Advantages of Combining AI & Blockchain

Improved Trust & Security

Many people feel that data collected from IoT could get hacked. Integrating with Blockchain keeps the information more secure and encrypted. This ensures tamper-proof and no access to data without permission.

Helps make better decisions

The business operations are delayed due to not taking decisions at the right time. However, AI is used in various decision-making areas like finance to identify frauds, healthcare which treatment is best, etc., Blockchain records how the decisions have been made and used for execution.

More Transparency

Blockchain is used for storing data and monitoring how it is used. It lets us create data transparently which increases trust in operations. The source of data can be verified with the traceability of nodes.

Automate the process

AI is used to execute smart contracts automatically. This reduces the need for intermediaries and boosts the speed of transactions.

Authentication

Blockchain offers deeper insights into the framework behind Artificial intelligence and tells the origin of data that are being used. This improves reliability. Using AI and Blockchain can improve data security.

Augmenting

AI brings a new level of intelligence to Blockchain. By providing a large amount of data, Blockchain assists AI scale to give actionable insights, manage data usage, and model sharing. This leads to creating a trustworthy and transparent data economy.