Can AI Predict the Unpredictable Behaviour of Blockchain?
Artificial Intelligence (AI) and blockchain are both considered pioneering technologies that will carve the future of the market, organizational trends, and other technologies. But when combined together, they both are like oil and water. However, projects when firmly combined with AI and blockchain have the potential to unveil the full potential of both emerging technologies.
One of the major reasons behind the incompetency of this mix is the technical hurdle. It isn’t as easy as making lemonade as both the technologies function on different programming paradigms. It is exceptionally complex to attain results from smart contracts because to do so, one needs to achieve a range of strict parameters. And, AI can’t promise 100% accuracy as it is difficult to attain, particularly in image and audio recognition.
In a recent report, the EU Blockchain Forum unveiled that amalgamating both the technology isn’t only desirable but has become a necessity. The writer mentioned that in the practical world, particularly in large-scale projects blockchain, IoT, and AI will likely work in a gig. The blend has the potency to create a smart city-backed with enhanced quality of life through critical systems.
Expected Blockchain Applications Backed with AI
We have discussed enough aforementioned that however difficult, but AI and blockchain together can bring revolutionizing changes in every market segment. But, how exactly will it look like in reality when practiced? What could be the possible blockchain applications powered by AI that the generation will witness?
When combined with AI and blockchain together, other technologies and fields including IoT, big data, insurance, logistics, manufacturing, and healthcare can also be leveraged in finer ways. One thing to note, in all the used cases, Artificial Intelligence plays a crucial role in achieving the promising expectations for feeding information into the blockchain paradigm.
Space projects can become far more advanced than ever through decentralized apps. Trading or business strategies could be better informed with AI; smart and complex projects could become flexible by many folds. Blockchain platforms can often be cumbersome to remember and store securely which is where AI patches the wound by balancing through facial recognition.
Undeniably, AI can be just as effective as humans and in some cases even better; they can function round-the-clock with minimum human errors. Similarly, blockchain is being appreciated for its transparency transactions features. Therefore, opportunities are infinite when AI and blockchain are implemented together into the platforms.
