Artificial Intelligence and the Blockchain
It is undeniable that AI and blockchain are two of the major technologies that are catalyzing the pace of innovation and introducing radical shifts in every industry. Each technology has its own degree of technical complexity as well as business implications but the joint use of the two may be able to redesign the entire technological (and human) paradigm from scratch.
A blockchain is a secure distributed immutable database shared by all parties in a distributed network where transaction data can be recorded (either on-chain for basic information or off-chain in case of extra attachments) and easily audited.
How AI Can Change the Blockchain?
Although extremely powerful, a blockchain has its own limitations as well. Some of them are technology-related while others come from the old-minded culture inherited from the financial services sector, but all of them can be affected by AI in a way or another:
- Energy Consumption
- Lack of Talent
- Data Gates
How the Blockchain can Change AI?
In the previous section, we quickly touched upon the effects that AI might eventually have on the blockchain. Now instead, we will make the opposite exercise understanding what impact can the blockchain have on the development of machine learning systems. More in details, blockchain could:
- Help AI Explain Itself
- Increase AI Effectiveness
- Lower Market Barriers to Entry
- Increase Artificial Trust
- Reduce Catastrophic Risk Scenarios
Blockchain and AI are on two extreme sides of the technology spectrum: one fostering centralized intelligence on closed data platforms, the other promoting decentralized applications in an open-data environment. However, if we find an intelligent way to make them work together, the total positive externalities could be amplified in a blink.
There are of course technical and ethical implications arising from the interaction between these two powerful technologies, as for example how do we edit (or even forget) data on a blockchain? Is an editable blockchain the solution? And is an AI-blockchain not just pushing us to become data hoarders?