Industries Thriving In Productivity From Blockchain + AI (Part-I)
Ever thought what wonders would happen in one’s life if Security and Intelligence become best friends??
Want some secured features in life, just scream — “Blockchain”!!
Blockchain is an emerging technology that is based on the distributed ledger concept. The concept of a distributed ledger technology is that power is distributed across participants of a blockchain network instead of a centralised authority. While the development of blockchain was initially focused on finance, blockchain applications can benefit supply chain industries such as consumer products, the food industry, and automotive supply chains.
Not satisfied with this? Have a look at some enhancements of blockchain:
Speed
MetaHash is a decentralized network based on blockchain 4.0 technology based network that is applicable to a wide variety of industries. It is not uncommon for Bitcoin settlements to take longer than 30 minutes when there’s a tonne of traffic. In three seconds or less, MetaHash processes 50,000 transactions per second and validates settlements.
Privacy
National attention has been paid to data security due to breaches at Equifax, Yahoo! and Marriott, as well as congressional hearings on Facebook and Google selling millions of users personal data. The main points of blockchain include privacy, data security and a network of anonymity.
Sustainability
Blockchain is used by Walmart to track food from farm-to-plate to ensure secure products. Libra, a digital token, is being rolled out by Facebook, and pharmaceutical giant Merck is creating a pilot programme to fight counterfeit drugs. One issue called blockchain bloat occurs when trillions of blocks are permanently stored on the chain, causing wallets to take weeks to download and causing a system to become less reliable. To store all the captured data, AI-assisted tech is embedded in mobile, smart home devices, vehicles and wearables, and blockchain can be used.One such example is DeepCloud AI, which uses both blockchains and AI to decentralize cloud computing.
Still not convinced with the above information? Find more relevant information here.
Who’s more intelligent — “AI” or “Artificial Intelligence”?
Artificial Intelligence is a computer science branch that attempts to replicate or simulate human intelligence on a machine in order to enable machines to perform tasks that typically require human intelligence. Planning, learning, reasoning , problem solving, and decision making include some programmable functions of AI systems. Algorithms, using techniques such as machine learning , deep learning are driven by artificial intelligence systems. Using statistical techniques to allow AI systems to learn, machine learning algorithms feed computer data to AI systems.
All the Artificial Intelligence systems fall into three categories:
1. Artificial Narrow Intelligence
It is goal-oriented, designed to perform singular tasks such as facial recognition, speech recognition, driving a car, or searching the internet and is very intelligent at completing the programmed task.
2. Artificial General Intelligence
A machine with general intelligence that mimics human intelligence or behavior, with the ability to learn and apply its intelligence to solve any problem. It can think, understand, and act in a way that is indistinguishable from that of a human in any given situation.
3. Artificial super intelligence
These machines become self-aware and surpass the capacity of human intelligence and ability. The concept of artificial super intelligence sees AI evolve to be so similar to human emotions and experiences, that it doesn’t just understand them, it evokes emotions, needs, beliefs and desires of its own.
You can find more information about AI, different categories and it’s use cases here.
Blockchain and AI are Best Friends
The consolidation of AI and blockchain can create secure, immutable, decentralized system for the highly sensitive information that AI-driven systems must collect, store and utilize it for future enhancements.
Some Decentralized Artificial Intelligence specifications are :
1. Autonomic Computing
For AI to operate autonomously, modern computing systems need to handle massive heterogeneity at all verticals including data sources, devices, data processing systems, data storage systems, and application interfaces, to name a few. The blockchain architecture can play a vital role by ensuring operational decentralization and keeping permanent footprints of inter-actions between users, data, applications, devices, and systems which leads toward the development of fully decentralized autonomous systems.
2. Optimization
Based upon application-level and system-level objectives, the optimization strategies work in constrained or unconstrained environments. Current optimization strategies are executed with centralized control considering system wide or application wide optimization objectives which results in extraneous and irrelevant data processing. The enablement of decentralized optimization leads to increased system performance by processing highly relevant data.
3. Perception
Intelligent agents and bots in AI applications and systems continuously collect, interpret, select, and organize data from their ambient environments using centralized perception strategies which results in monolithic data collection. The decentralized perception strategies can facilitate the collection of data from different views. The blockchain based decentralization facilitates tracing the perception trajectories, secure transfer of collected data, and immutable data storage.
4. Reasoning
Logic is an essential component of AI applications that allows to develop inductive or deductive reasoning rules to reach decisions. The centralized reasoning in AI applications leads toward generalized global behavior across all application components. To handle this issue, blockchain based distributed reasoning strategies are envisaged to facilitate the development of personalized reasoning strategies which could be more beneficial during perception, learning, and model deployment. Smart contract based decentralized distributed reasoning on blockchain ensures the availability of unforgettable reasoning processes which may help in future executions of similar reasoning strategies.
5. Planning
Applications based on Artificial Intelligence execute planning strategies in order to collaborate with other applications and systems and solve complex problems in new environments. Planning strategies help in operational efficiency and resilience of AI applications and systems by taking current input state and executing different logic and rule-based algorithms to reach predefined goals. Currently, the centralized planning is complicated and time consuming task; therefore, blockchain based decentralized AI planning strategies are needed to offer more robust strategies with permanent tracking and provenance history.
You can find more information about Blockchain-AI specifications and applications here.
Case studies on industries thriving on Blockchain+AI
1. DeepSee
DeepSee combines this vision with blockchain to create transparency, in addition to a means of monetization through our token CurrentSee. It isn’t just some junk coin either as the coin maintains a real value that is supported by services on the platform, most notably the ad exchange. DeepSee mainly does social content aggregation, verification, and monetization powered by AI and Blockchain. DeepSee is an all-in-one platforms that combines some of the best aspects of sites like Reddit, Youtube, Medium, and Twitter into the most flexible and transparent platform seen yet.
DeepSee allows for a broad scope of profile privacy setting in addition to advanced profile verifications that allow professionals, celebrities, professors, etc to make a name for themselves. Last, but certainly not least we combine machine learning at many different layers to detect bots, vote manipulation, gaming, provide better search results, and so much more. They work differently by looking at the nature of websites and rings of websites to discover places that harbor fraud. Where on-page trackers capture a point in time, DeepSee captures the journey, end-to-end, that a user might take.
Find more insights and facts about DeepSee here.
2. SingularityNET
SingularityNET is a decentralized marketplace for AI algorithms. SingularityNET is a full-stack AI solution powered by a decentralized protocol and the first and only decentralized platform allowing AI to cooperate and coordinate at scale, removing one of the major limiting factors to AI growth today — the lack of interoperability — which severely restricts the ability to leverage the strengths and capabilities of individual AIs.
SingularityNET lets anyone monetize AI algorithms, allowing companies, organizations, and developers to buy and sell AI at scale. Their specialities are : Artificial Intelligence, BlockChain, CryptoCurrencies, Smart Contracts, Ethereum, Robotics, artificial general intelligence, and algorithms.
Some of the advantages SingularityNET provide are:
- AI agents can leverage previously exclusive datasets, structuring and monetizing them for big data purposes.
- Users can tackle information sets with significantly higher complexities.
- The combination of AI tools will result in emergent intelligence & capabilities that no other platform can provide.
- Information can be processed materially faster than the competition.
Explore more information about SingularityNET here.
3. Mutual.Life
The objective of the Mutual.Life platform is to rescue mutualism in a safe and transparent manner, thus providing a more symmetrical and fair relation-ship for participants, but also eliminating the risks of mismanagement, fraud and other problems historically frequent in mutual associations.
Few industries are as big and as little innovative as that of private insurance. Although punctual incremental innovations happen, the internet and emerging technologies like Blockchain and AI offer a new range of possibilities for protection models, with the potential to democratize insurance, especially in developing countries, potentiating a great economic and social impact.
Applying state of the art technology in Blockchain and Smart Contracts, their goal is to eliminate the asymmetry of information present in the insurance-insured relationship, providing a platform for the formation of mutual aid groups so that the risks of close and trustworthy people can be assessed among the group members themselves in a simple and safe way.
The benefits Mutual.Life provide as a platform are:
- You and your group define all aspects of the coverage you require, such as what will be protected, the amount of protection, criteria and deadlines for the events.
- Your group can protect whatever you want, that is, it can create protection products that don’t exist in the market if traditional insurance.
- When a request for reimbursement occurs, it is trustworthy people who evaluate the request and the evaluation must be fair, otherwise the group cannot expect different treatment.
You can search for more information about Mutual.Life here.
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