Artificial intelligence is a technology that overcomes all human tasks by automating machines and allowing them to work just like people, thinking like people. Algorithms are used to analyze and study the behavior of people in certain circumstances.
The integration of artificial intelligence with the blockchain has opened up many opportunities for developing solutions. Experts believe that in the coming years, the use of a combination of AI and Blockchain can change the pace of business development around the world.
Due to the decentralized blockchain system, it may take several days to confirm a transaction when transferring bitcoin from one peer to another.
The confirmation time is even more delayed with an increase in unprecedented transactions in bitcoins, since the block size is limited, and transactions that exceed this capacity are queued for confirmation.
In this scenario, artificial intelligence systems can help stop this cumulative process by reducing the processing power needed to validate these transactions. In addition, the AI system can improve the hashing algorithms that are used on the blockchain network to confirm any transaction. The combination of both of these technologies is only the beginning of a new era of technology.
The merger of AI in the blockchain creates perhaps the most reliable decision-making system in the world based on technology, which is practically protected from unauthorized access and provides a clear understanding and decision-making. It has several advantages, such as:
• Improved business data models
• Global Validation Systems
• Innovative audits and compliance systems
• Reasonable finance
• transparent management
• Intelligent retail
• Intelligent predictive analysis
• Digital Intellectual Property Rights
With the introduction of artificial intelligence, Blockchain technology is becoming more secure thanks to the secure deployment of applications in the future. AI algorithms that are increasingly deciding whether financial transactions are fraudulent and should be blocked or investigated are a good example of this.