Rising Of Friendly Alliance: AI Integrating With BlockChain

Since the introduction of Artificial Intelligence, it has mesmerized the human imagination. Nowadays intelligent computers are no longer fiction as Computer science is developing rapidly. As per digital marketing agency Toronto today, the world is witnessing two progressing technologies, Blockchain, and Artificial Intelligence.

Blockchain has already changed the perception of the capabilities of the internet. It has allowed the speed of internet transactions to be drastically increased and also make them more transparent. For different spheres of business, AI has already opened new horizons. It has also allowed optimization of the routine work.

Here are some of the possibilities and the challenges of integration of Blockchain and AI.

• Perception Of Integration

Where the work of human intelligence is necessary, AI is widely used for denoting the computers that can work in projects. To make this possible, technologies such as artificial neural networks, machine learning, and deep learning. 

To store the digital information in an encrypted and distributed way Blockchain is the answer. The information can be stored in a structured way and it will become publicly available.

• AI Can Increase Efficiency Of Blockchain

Miners, who put their computing power on trying different combinations of characters, validate the Blockchain. But the money is only given to the one who is first to find the combination, and the power spent by the other miners is wasted.

In the coming future, AI will be able to guess the code in an intelligent way by machine learning algorithm. This will save time and power. The process validation will now be fast and cheap.

Another benefit of using AI in everyday lives is the size of data. In Blockchain every piece of information is securely recorded and kept in every computer in the network. The chains become heavier with time as the number of blocks increases. 

Challenges Of Integration:

• Cost

In Blockchain, most of the cost is covered by the energy consumption. There are fewer chances that this issue can be resolved by the advancement in technology. There are very few modes through which the cost can be lowered. Till then the high cost of blockchain technology will keep the aspiring businesses out of sight.

• Uncertain Regulatory Status

It becomes a hurdle for the blockchain to get accepted by the preexisting financial institutions. As each and every part of the world, money is controlled by the government. There is continuous watch on all the money transaction made through the bitcoin.

• Security Challenge

It is hard for the criminals to hack the system and steal sensitive information because the blockchain technology is based on cryptography algorithms. It is necessary to first decrypt the files, in order to make changes to the secured data. This can leave them unguarded to attack from hackers.

Summary

The Blockchain has already proven its worth as it can add efficiency and speed to transactions. Thus, it can do the same for AI, propelling it to learn at a faster rate. The information can be organized in a more efficient way with the blockchain’s model. Multiple digital media agency voices their opinion that collaborating these progressive technologies will revolutionize the way the business is conducted.