Blockchain and AI combined Solve Problems inherent in each

Benefits of AI and blockchain combined
What to watch out for with AI and blockchain combinations

Data stored on the blockchain has an owner -- the users who created that data. Blockchain allows users to choose how their data is shared, who it is shared with and, eventually, how it is used.

The technology allows users to earn from their data rather than rely on intermediaries, such as banks, payment providers and credit cards. This is good for users, but it has another advantage in that transactions are also more in line with the GDPR guidelines that require consent from people whose data is recorded.

How do these attributes address the data limitations that tend to keep AI breakthroughs in the hands of all but the biggest tech companies?

Because there are no sovereign authorities in blockchain, many different platforms can interconnect without risking biased or unfair treatment or lockout. This means data will no longer be a central pool owned by one entity. Rather, it can be a much bigger medium, capable of connecting different systems that any party could use for their AI training purposes.

Blockchain's interconnecting networks could be used to solve complex problems that require massive amounts of data, according to Steve Deng, Ph.D., the chief AI scientist at Matrix AI Network, a global, open source, blockchain-based platform that combines AI and blockchain. Computing power has become a global resource.

"Blockchains offer a brand new opportunity to mobilize such a global resource to build the biggest computer ever," Deng said. "With such a computer at hand, for example, we can conquer many essential problems such as whole-brain simulation to understand human intelligence and gene regulatory network analysis to understand the interaction of gene and environment for any given person."

Blockchain's immutability is also useful in AI deployments. According to Basit Hussain, Ph.D., a technology advisor at Playpal: "The decision path taken by the AI is not always understandable, but by recording the decisions on the blockchain, the decision logic can be backtracked and improved."

Artificial intelligence also requires high computational power and, sometimes, parallel processing. "The distributed approach allows smart allocation of resources from a far-flung network," Hussain said. Much as blockchain can help AI, AI can also help blockchain. As Deng explains, AI can be used to select blockchain supernodes.

"The AI algorithm guarantees the fairness of the selection process [by] leveraging deep learning techniques to identify transaction intent using neuro-linguistic programming descriptions," he said, referring to the work being done at his company.As was mentioned earlier, blockchain also has its limitations."[Blockchain] should not be considered as a data store," Prabhu said. "Solutions should consider the performance limitations of current blockchain technology and open visibility of the public ledger for sharing confidential/identifying data."