Blockchain and Artificial Intelligence
Guest blog by Vinod Sharma.
Abstract – Blockchain is a mystery story or provides the foundation for cryptocurrencies like Bitcoin. What’s different about blockchains compared to traditional big-data distributed databases like MongoDB. Its like featuring a product that contains small blocks of brain in form of dust but consider that the innovation efforts of several publicly traded asset managers and banks are also on this brain block dust quest. Computers start simulating the brain’s sensation, action, interaction, perception and cognition abilities. Blockchain is a new approach to manage/monitor financial and other transactions, Guarding an innovation department or powerhouse lab is a smart setup without inbuilt component of artificial intelligence is like an effort of joining blocks without reference of previous block. In this article the idea is to draw a rough sketch of exaggerated scenario of how these two technologies may interact with us in the future and what warrants the, perhaps perplexing, 2 super powers. AI’s Control systems are widely used. They govern how a simple thermostat adapts to a target temperature. Before we discuss this further, let’s first review. Views here are from many of my friends, colleagues and reading through web. All credits if remains on the original contributor only.
Introduction – How Future Technologies affect our life’s, How many jobs will be taken by robots and how much will left for humans; difficult to predict today. At the same time software development/ coding jobs will be less and less thats for sure with machine learning concept and its not very far may be just another decade and all software development jobs are gone. The future computing will have extraordinary capabilities with expected factoring of a 3,000 digit number (40 power to 10) faster than today. Personal health devices will send data to databases and glucose levels will be analyzed from tears by contact lenses. AI will form its own team on the fly with combination of hardware, software, infrastructure and machine learning trained programs organized to facilitate planning, control, coordination, and decision making in an organization and this process will happen any time or many times for various tasks. Blockchain to transform financial services. Disruptive technologies transform traditional industries.
Main Story – Artificial intelligence and blockchains are the 2 closed components of digital business. While Blockchains can help us verify, execute and record. AI helps in decision making, assessment, understanding and recognizing. While the machine learning methods that are a part of AI help us find opportunity and improve decision making, smart contracts and blockchains can automate verification of the transactional parts of the process. Connected industries require new innovative solutions as in new technology scenarios human errors replaced by technical failure. Google search looks like a fair deal to the consumer because it is an amazing free product but wait is it really free may be not. Google uses its algorithms to index web pages in a way that provides a near-seamless service to anyone who wants to locate content on the web. In return it ask for the right to collect and record information on your browsing history, which it uses to; better understand the content that users want to see on the web, feeding this information back into Google search and improving its search engine service in the process and also help its customers sell you better targeted advertising, based on the customer profile it’s built up on you with the data it collects.
Blockchains might get use to work with digital human mind-files. Formulating human mind thought process and on-going thinking process to machine readable digital files and uploading and saving them on physical machine’s storage devices. Blockchain will also
help their current prototypes, digital identities like Linkedin, Twitter or even facebook etc. Through their asset management, property registration, and access control features it will become usable, sellable and marketable. Blockchain thinking is as an input-processing-output computational system. Blockchains are much more than the already extraordinary scope of potential activity that has been envisioned for their deployment in reinventing currency, finance, economics, government, legal services, science, and health – blockchains are a basic substrate for computing itself. I guess calling bitcoin as bubble out of blockchain would not be wrong. Blockchain thinking can also be compared with human brain power of storing our memories on a decentralized storage disk.
Concept of blockchains, a new form of information technology that could have several important future applications. Blockchains is like a Blue Ocean Database at the expense of near-term earnings. But is the alternative, sprinkling a dash of innovation brain blocks dust approach may have been sufficient to check the planning-for-the-future box. Emerging markets are early-adopters of new technologies i.e. Drones and 3D modeling instead of on-site risks visits. Refining existing and developing new risk services is key for both technologies and businesses to prepare jointly for the next industrial revolution. Embrace digitalization and customer centricity will give super sonic experience. As a concept thinking blockchain as a thinking process which can help in formulating human thinking as a blockchain process to make machine learning process stronger. This can also help to firm up deep learning process after potential integration in turns this could have benefits for both artificial intelligence and human enhancements.
Looking into past through crystal ball on how people use to see future from their time, i.e todays time they must have seen Money in todays time as less and less Physical but more and more of Electronic Tokens or Commodities that can have the properties like unit of account a defined value, Medium of exchange a acceptability, Store of Value a non-perishable safe from physical threats. In a simple term today e-money is an item which can be defined as sending and receiving numbers to and from email/internet addresses. Blended or overlapping memories could be stored as separate discrete units. Now adding Blockchain concept here will simply give freedom and welcome you to fork the chain and implement your own rules if you don’t like one of the changes, you are more than. Is given to the people, not to the bank or companies. The best example is Bitcoin which in simple term is the money which (supply) cannot be manipulated and is fixed at 21 million coins, each divisible up to 8 decimal.
Blockchains could be employed as a secure large-scale data management mechanism to coordinate the information of millions and billions of individuals. I remember my visit to Hong Kong in 2009, just 12 year after the biggest financial crises known as 1997 ghost when the Thai baht lost its peg with the dollar. I heard stories of some of the victims, including a high-flying stockbroker who was reduced to selling sandwiches, and a businesswoman whose boss told her to “take care of the work for him” before hanging himself. Now where necessary, they try to neutralise heavy capital inflows with offsetting flows the other way, including central-bank purchases of foreign-exchange reserves. The AI sub-field called “Artificial General Intelligence” (AGI) is most relevant as AGI can be modeled as a feedback control system. If we try to simulate the entire episode with AI Blockchain today then solution and speed of solutions would have been beyond excellent mark. AGI is about autonomous agents interacting in an environment. Asia did not see the 1997 crisis coming precisely because it thought it had learned the lessons from earlier crises. Asian countries had high national saving rates, limited public debt and budget surpluses which brings us to AI.
Blockchain matter to foundations of data management and it provides foundation to bitcoin which is mind game and a result of well thought process and cooked with ingredients like artificial intelligence, artificial general intelligence, Machine learning (blended with deep learning) and their components around. Perhaps the first and most straightforward element needed for thinking is memory. For blockchain computational purposes, a position can be articulated that each memory is a discrete unit and that these discrete units are encoded and stored somewhere. AGI’s Control systems have many great qualities. First, they have strong mathematical foundations going back to the couple of decades. Aspirations, linked to opportunity, can breed dynamism and inclusive, sustainable economic growth. That’s something we all want to see. Meanwhile, tech giants like Apple, Google and Intel are investing billions of dollars in using machine learning AI’s to build out their next big projects.
As on date all of us are involved in projects that involve blockchain technology implementation or related activities knowingly or unknowingly. Blockchain for Artificial Intelligence is like a global or planetary database in which AI and neuroscience have been moving towards a modular managed approach with memory to unlocks opportunities by Data sharing and better data model. Creating audit trail on data and model for more trustworthy predictions and shared as global registry. AI DAO- that can accumulate wealth that you cant turn off. A Decentralized Autonomous Organization (DAO) is a process that manifests these characteristics. It’s code that can own stuff. Self-driving car is an excellent example for this. What if you use blockchain to store the state of machine. The key move for blockchain-enabled thinking is that instead of having just one instance of a memory, there could be arbitrarily many copies of a memory, just as there can be many copies of any digital file.
The biometric authentication feature associated with mobile wallets is a great example with promising feature. With AI power to enable security features of mobile payments mean the technology could gain traction in other areas of B2B payments and escalate blockchain to generalize, any previous application of AI, but now the AI “owns itself”. We might have a future where humans own nothing, we’re just renting services from AI DAOs. Chatbots harness software that uses artificial intelligence to process language from interaction with humans in chat programs and virtual assistants. The concept of chat bots are coming up very fast but its limited to smart devices holders. They capture the interaction with the world (actuating and sensing), and adapting (updating state based on internal model and external sensors). Further that the number and location of any stored items, in this case memories, could be optimized dynamically for system operations. Blockchain will prevail as log source, event immutability, Key management credential for info-security and Quantum computing (will be a reality anytime soon).
Conclusion –Todays everyone in the said industry are looking for answers for How Artificial Intelligence Will Revolutionize Banking as we all know Artificial Intelligence is about probabilistic, constantly changing and its a algorithm to guess at reality and blockchain is deterministic, sort of permanent and its algorithm & cryptography to record reality. AI has taken some steps into banking, but it also is poised to revolutionize how banks learn from and interact with customers. Looking into future through the crystal ball, I tried describing how blockchain technology can help AI, by drawing on my personal experiences in both. As development trend for the operation support system, convergent billing, money storage as digital numbers i.e bits and bytes has broad scope that is not limited by a single standard. Artificial Intelligence (Cognitive Computing) will play a bigger role. Its development may follow different directions. Through different security threats. However, which is the best direction? The answer lies in the analysis of future technologies development within the 3GPP framework (For Telecom), FinTech, AI and AGI, Machine learning & Deep Learning, Threat Intelligence will play a bigger role coupled with an evaluation of the driving factors and key capabilities required by convergent systems and requirements. There’s no single answer to this without end-to-end architectural analysis. AI and blockchain combination is explosive! Blockchain technologies . It can help realize some long-standing dreams of AI and data analysis work, and open up several opportunities. Let us open a discussion on this and build some intelligence around it. AI controls cancel noise in your expensive headphones. They’re at the heart of thousands of other devices from ovens to the brakes in your car.
About the Author –