How will AI use blockchain technology?

Blockchain technology and artificial intelligence are considered two of the most significant innovations of the past decade. They have already impacted diverse industries like finance and supply chain management, among many more. Logically, combining these two technologies could open even more possibilities. Let's look at the possibilities of AI applications for blockchain and the ways they could help the cryptocurrency industry and its acceptance within mainstream finance. Augmentation In giving access to data internal and external to the company, blockchain can assist AI to grow by giving more concrete data, better management of data consumption, as well as model sharing. This can lead to a more reliable and transparent market for data. Automation The combination of AI and blockchain technology could add benefits to business processes that involve multiple parties by eliminating the requirement to involve humans. Blockchain technology could eliminate unnecessary third-party entities from transactions that involve multiple parties and could, theoretically improve the speeds and efficiency of, these transactions. The reduction in transaction friction could allow users to control their data, and blockchain can ensure the security of transactions. Computing Power AI is extremely resource-intensive and requires large amounts of computational power which data servers might not be able to. Blockchain technologies that are distributed, like blockchain, could aid in using computational power from a variety of machines. Data Privacy Blockchain's immutable and decentralized nature can increase the security of data and provide privacy to AI systems. AI algorithms typically require huge quantities of data to train and verify, and blockchain technology can ensure that this data is safe from tampering and unrestricted. Data Marketplace Blockchain-based data marketplaces allow for data exchange AI training data while preserving confidentiality and ownership of the data. AI models can access a variety of datasets securely without jeopardizing the integrity of data. The Decentralized AI Models Blockchain networks can house distributed AI models, which allows different users to contribute computational resources and data securely. This decentralized approach can encourage collaboration and creativity when it comes to AI study and research. Auditable AI Systems Blockchain's transparent ledger allows auditing and verification of AI processes and decisions. This transparency increases trust and accountability within AI systems, specifically when it comes to critical applications like finance or healthcare. Furthermore, an integration between AI and blockchain could improve the efficacy and security of different processes, specifically in fields like supply chain management as well as healthcare. AI algorithms can analyze complicated data patterns to improve supply chains and improve healthcare outcomes. Blockchain technology assures the security and integrity of the data used in these processes, thus reducing the risk of mistakes, fraud and inefficiencies. In combination, AI and blockchain can enable organizations to make decision-based on data with confidence, while also ensuring confidentiality, security and transparency.