We’ve seen a lot of technologies that work better when integrating with other technologies. This is the typical scenario in many cases to make a particular technology more powerful than it was before.
Blockchain is already the most talked about technology in the world in bringing more transparency and security to networks. The use of blockchain is virtually limitless in all industries. However, integrating it with AI could make it all the more important in bringing a foundation for protecting data.
Considering AI and machine learning works with data every day, how will blockchain protect it from being compromised?
Protecting Data in Various Industries
Numerous blockchain analysts are looking at the possibilities of what it could do in securing AI data used in fields from healthcare to financial industries.
Since blockchain provides an encrypted private network, the implications are significant in how AI processes data and sends data to others. Many companies are going to start placing more reliance on AI and machine learning to gather or send data. Unfortunately, it’s not always smart enough to protect the data from being compromised by hackers or inside data thieves.
Blockchain promises full protection for heavily regulated industries like healthcare mentioned above. While data protection is already a major initiative of the healthcare and financial industries (as just starters), they’ll soon use blockchain as a foundation for their increasing reliance on machine learning.
Even more important is being able to track when AI transfers data from one place to the other.
Clearer Audit Trails
Recently, an article on Medium took on the subject of AI and blockchain working together. The piece (written by data strategist Francesco Corea) offered a lengthy explanation of how blockchain can provide an audit trail for all data compiled by AI.
It’s impossible for humans to compile or send reams of data manually to different sources. Companies are starting to rely more and more on AI to send data without really having a data trail to ensure compliance or if the data is accurate.
Thanks to blockchain already providing transparency in all transactions, it’ll provide a similar data trail in AI and machine learning applications.
In other words, when data is sent between two parties who don’t know one another, they’ll have a new AI data record of trust to eliminate second thoughts about what’s sent.
Being able to gather data through AI and sell it to companies for profit isn’t always feasible because of lack of trust on where the data came from. Having blockchain involved in data compiled by machine learning provides a stronger level of trust, leading to more data marketplaces.
We’ll likely see smaller companies previously staying away from buying data find more trust in data acquisition because they’ll know it’s safe to use.
Ultimately, this brings a stronger competitive advantage in the corporate world. A company called SingularityNET is already working on this by allowing easy sharing of AI services. They’ve created a blockchain-powered AI helping those looking for open-source AI platforms. It’s going to bring more trust in using these sources to save money and gain data advantageous to company growth.
More Powerful Big Data Analytics
Other companies like Neureal are using blockchain to create more powerful data networks. In fact, this company says their data network is more powerful than anything in the world, even more than Google.
This might sound like hyperbole, yet it’s become possible thanks to blockchain building larger big data analytics. It’s another example in how blockchain creates more trust and power in transactions of data to help companies scale.
Contact us at Concepts Rise to learn about how we can apply blockchain through our expertise in everything from predictive analytics to AI.
Majid Abai – July 2018 – Los Angeles
About The Author:
Majid Abai is Managing Director of Concepts Rise, LLC. (www.ConceptsRise.com), a High-Technology and Innovation Consultancy based in Los Angeles, CA, USA. With over 30 years of experience in supporting US and global organizations, Mr. Abai focuses on strategic and tactical approach to use of innovation and technology to increase revenues and reduce costs for organizations. Majid could be reached at 424-320-0524 or via email at majid.abai@ConceptsRise.com.