Observations | Blockchain and Artificial Intelligence: A catalyst for the “fourth industrial revolution”?

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"The Fourth Industrial Revolution"

Artificial intelligence, machine learning, the Internet of Things, blockchain – With the advent of these technologies, today's humans are experiencing a major technological revolution following the Internet. According to an artificial intelligence market forecast report from Tractica, the market value of the global artificial intelligence industry is expected to expand from the current $9.5 billion to $118.6 billion by 2025. At the same time, the 2019 Global Blockchain Survey published by Deloitte pointed out that 53% of the companies interviewed said that the blockchain is their main focus this year. Therefore, more and more professionals in the market believe that human beings now seem to be entering the “fourth industrial revolution” combining blockchain and artificial intelligence.

• Blockchain Blue Book Release: 28,000 blockchain companies nationwide, 25,000 are issued
• Liberation Army Daily: The military application of blockchain is not yet mature, and there are still four major risks.
• The People’s Daily published a comment: applied to social governance, the blockchain is promising

Blockchain and artificial intelligence

Blockchain is a distributed ledger that uses encryption technology. Its core lies in "block + chain". Each block contains the hash value, timestamp, and transaction data of the previous block. All the blocks are connected together to form a blockchain. Distributed and non-tamperable are the two characteristics of the blockchain.

Artificial intelligence uses machine learning to simulate the structure and function of the human nervous system through neural networks. According to the different intelligence levels of each system, artificial intelligence can be divided into three levels: weak artificial intelligence, general artificial intelligence and super artificial intelligence. Weak artificial intelligence can use algorithms to perform a specific task; general artificial intelligence is to promote the cognitive ability of the system to the height of human beings; and super artificial intelligence as the final stage can realize smart machines more than ordinary people. The vision of intelligence.

Figure 1 Blockchain and Artificial Intelligence Image Source: The Policy Times

Data distribution and security

Currently, most artificial intelligence-based projects need to store data on a centralized server or cloud. However, this storage method is too singular, low security, and vulnerable to hackers. This has created significant obstacles to the application of artificial intelligence in data-intensive industries.

As a decentralized system, the blockchain is the perfect solution to this problem. Artificial intelligence-based projects can store data in multiple systems and provide seamless access through blockchain technology. The blockchain encryption technology can also protect the data better. Therefore, blockchain technology can better realize the application of artificial intelligence in the financial or medical industry, both in terms of data distribution and security.

Data certification

For now, the realization of user data is still based on a centralized platform. The development of blockchain technology can provide users with a decentralized platform for users to realize the self-realization of their own data. Such an incentive mechanism will make more users more willing to share their own data, and this peer-to-peer, decentralized environment is conducive to the development of artificial intelligence.

In the following, two examples will be used to show the application scenarios of blockchain and artificial intelligence in practice.

SingularityNet

Founded in Amsterdam in 2017, SingularityNet is a decentralized, artificial intelligence market designed to create a decentralized artificial intelligence network in the world. On the SingularityNet platform, developers and companies based on artificial intelligence can exchange some other artificial intelligence services or digital currency by providing hardware and software services. Of course, SingularityNet also has its own pass: AGI.

According to SingularityNet's official website, in order to ensure a secure trading environment, the entire market uses intelligent contracts based on blockchain technology to achieve exchanges between the parties. In addition, in this open source market, every person who provides artificial intelligence and machine learning services for the ecology has recovered a certain amount of tokens as a reward.

Although SingularityNet is still in its infancy and has not achieved much, the amount raised has reached $36 million in one minute from SingularityNet's initial public money raising (ICO).

Figure 2 SingularityNet Image Credit: Altcoin Buzz

Peculium

Unlike SingularityNet, Peculium is an investment management platform dedicated to using big data, machine learning, etc. to provide investors with an automated solution for managing cryptocurrency assets. Each asset management program has different degrees of autonomy. For example, a single investor can adopt a fully automated solution, and professional traders, large companies, etc. can also combine their own strategies for portfolio management.

One of the highlights of this platform is its own artificial intelligence consultant. Based on machine learning, this artificial intelligence consultant can use multiple channels of data (including real-time financial data, etc.) to analyze market trends. In order to achieve better data processing, the algorithm has reached 8 compatible languages.

Figure 3 Peculium Image Source: Steemit

Conclusion

Although the market for blockchain and artificial intelligence is not yet mature, these two technologies have fundamentally changed our way of life. The decentralization advantage of the blockchain can well empower artificial intelligence, enabling it to be better applied in the financial and medical fields in the future. Perhaps blockchain and artificial intelligence are the catalysts for the next industrial revolution.

Article Source:

Blockchain and Artificial Intelligence: Towards the "Fourth Industrial Revolution"

Source: https://www.leewayhertz.com/blockchain-and-ai/

Author: Akash Takyar

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