How is AI used in Blockchain — Decentralized AI
How is AI used in Blockchain — Decentralized AI
With artificial intelligence (AI) responsible for providing us our recommended shows to binge-watch on Netflix and blockchains being the reason why we can bypass third-parties when transacting online, these two technologies have transcended our lives.
By definition, a blockchain is a distributed, decentralized, immutable ledger used to store encrypted data. On the other hand, AI is the engine or the “brain” that will enable analytics and decision making from the data collected.
Both definitions do indeed sound a mouthful. Therefore, people tend to associate them with high degrees of complexity and view them in silos. However, upon a deeper understanding of how these technologies work, one will realize they are mutually inclusive and complement each other.
Under the machine learning branch of AI, the system creates a model and then “trains” it by providing it with many examples stored inside a database. Algorithms process these examples and create a mathematical representation of the data that can perform prediction and classification tasks. One will realize that the key for this to happen would be the secured storage of large amounts of data. Enter blockchain. Being a decentralized and immutable ledger, blockchains enable the safe storage and sharing of encrypted data to enable AI to work their magic.
Broadly speaking, AI can be classified according to its capabilities. Presently, humans have only developed the most primitive nature of AI, artificial narrow intelligence (ANI). ANI systems, commonly termed as “bots”, are exceptionally good at performing singular tasks. They are capable of outperforming even the best of humans in their specific domains. However, when presented with a situation that resides outside their specialized domain, they fail.
Seeking to build a community of such bots to aid human decision-making in various domains such as wealth advisory and trading, SnapBots (http://www.snapbots.io) creates deep learning bots powered by big data to generate solutions for users. Using SNAP tokens to purchase bots on the marketplace, users will define a goal for it to achieve. For instance, a cryptocurrency trader might want his bot’s goal to be crypto arbitrage. These bots are then loaded with encrypted data stored in a secured, decentralized ledger, courtesy of blockchains.
Upon selection of a suitable application , these bots will begin their deep learning. Experienced data drawn from the ledger is matched with live situations cues as the algorithms are optimized for deployment. Upon deployment, these bots can leverage on the decentralized nature of available data to further refine their algorithms for better accuracy. Powered by smart contracts stored in a blockchain, the ownership and data stored in each individual bot is secured and impossible to tamper.
Ultimately, integrating AI and blockchain has the potential to use data in ways never imagined. Data is key for the development and enhancement of AI algorithms and blockchains greatly secures this process. Though AI can be revolutionary, it must be designed with the utmost precautions to protect the required data. Therefore, integrating these two incredible technologies together could potentially pave the way for a much more transparent and efficient world. A world where humans, aided by AI, can make better decisions.
Open a wallet today on SnapBots: snapbots.io
About SNAPBOTS
SnapBots(www.snapbots.io) is an artificial intelligence (AI) research firm based in BVI with global users. Driven by its focus on fields of machine learning and deep learning, it aims to supply trading bots as a service.
About SNAP
SNAP is short for SnapBots Token based on Ethereum and that is used in SnapBots blockchain-based AI bots’ economy.
For more information, please visit:
SnapBots- https://snapbots.io
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