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