New Normal, Digital Transformation, Industry 4.0
Trust | Transparency | Traceability
The Newer Dimension AI with Blockchain
18 Dec 2021 , AI, Blockchain, Deep Tech
Rajiv Malhotra,(Acclaimed Autor, Public Intellectual) In his book Artificial intelligence and the Future Power (Rupa Publication), beautifully presented Artificial Intelligence is only visible like an iceberg. To understand AI fully, we must look beneath the surface. The positive side is that it is making Machine Smarter…..
AI is the brain bringing together Quantum computing, nanotechnology, 5G, IoT, Blockchain and many more…
We would try to find the connectedness of AI and Blockchain addressing the newer challenges through this writeup.
The digital revolution has altered technological disruption from a once-in-a-lifetime event to a constant process. Each new emerging technology represents a new wave of opportunities. And always combining different types of emerging technologies onto various sectors into a single product area gives rise to many markets opportunity. It is only due to the advent of AI that software can offer a highly personalized service to the end-users. With the inception of AI, the high-powered mining algorithm has made life much more comfortable. Blockchain and AI individually are established to a great extent. And their combination can also be highly beneficial to industries of various types.
Industry 4.0: It belongs to the era of convergence of emerging technologies.
Facts: It is believed that 90 per cent of the world’s data was generated in the last 2-3 years, and now PwC predicts that by 2030, AI alone will add up to $15.7 trillion value to the world economy. This suggests that Data, Partners and Value are three important constituents to enable Trust, Transparency and Traceability in any business, each holding its importance to be secured and protected for better decision making.
Role of Blockchain: Blockchain has been increasingly used to register, authenticate and validate assets and transactions, govern interactions, record data and manage the identification among multiple parties in a trusted, decentralized, and secure manner. The associated Encryption technology ensures that the original information is consistent, thereby preventing the provision of false information that can mislead its involved counterparts.
On the other hand, the development of AI is dependent on data, and Blockchain is the technology that allows for encrypted data to be stored in a reliable, distributed ledger. Blockchain can make data more coherent and understandable, helping trace and determine the logic behind the algorithmic decision-making process.
Example: Let’s take some examples from two varied sides of the spectrum
In Humanoid and Human Intelligence: Sophia the Robot by Hanson Robotics: She is the world’s first robot citizen and the first robot Innovation Ambassador for the United Nations Development Programme. Sophia has even made appearances on significant broadcasting channels and numerous other top TV programmes and spoke at hundreds of conferences/conclaves worldwide.
About SingularityNET: Beyond the innovative creations, cloud-based infrastructure for robot(mini-cloud) intelligence is being developed, which brings the essential components of AI and Blockchain together. Generally, this is a decentralized, open market for AIs in the cloud, so anyone who develops an AI can put it into the SingularityNET. This determines a secure, decentralized and distributed intelligence to a vast population of compassionate, expressive humanoid robots serving diverse functions worldwide.
Food and Agri: The practice of track and trace in agricultural technology powered by blockchain technology optimizes the use and importance of traceability-oriented solutions. Traceability maps the complete journey of how the product is sustainably harvested and distributed. Beyond this, many firms use data analytics and Blockchain to allow intelligent supply chain management for seed sourcing, warehouse/stock/inventory management and market linkages by establishing credentials and authenticity. At TRST01 (at the backdrop of core blockchain verified Traceability Platform), we focus on delivering three key aspects, i.e., Web, Mobile and Dashboard Analytics. TRST01 generally engaged with its customers to understand their pain points and focus on opportunities for Blockchain to improve any of the business models. Dashboard Analytics depends on the processed data, but at the time of Data Input (through Web and Mobile), AI can act as a “Basic Responsive System” by assisting and improving the entire process.
Feeding off EACH-OTHER energies: Blockchain and Artificial Intelligence (AI) can transform current processes to develop innovative business models for impactful change in industries. With AI, a lot of emphasis surrounds Data Handling/Uses, and henceforth Blockchain is a key part of the entire process of integrating or becoming functional. Blockchain makes AI more coherent and understandable, as its ledger can record all data
and variables that go through a decision made under artificial intelligence. When smartly paired up with AI, highly secure and sensitive data can bring much difference in our lives.Industry leaders in Food and Agri, Healthcare, Finance, and Public Services, are exploring combining AI and Blockchain to disrupt the technological landscape. Many businesses are already experiencing the benefits of enhanced scalability, traceability, increased efficiency, lower running costs, and smoother operations by simply blending these two tech trends among the emerging technologies.
Conclusion: Artificial Intelligence and Blockchain have the potential to remodel any of the use-cases in a more transparent, reliable and efficient manner. The combination and implementation could be in sectors such as food and Agri, supply chain, logistics, healthcare, public record sharing, and financial security. AI is present everywhere in today’s hyper-tech world. It is progressively growing to support us with automation through smart emerging digital technology to make us increasingly dependent on it to function, communicate, and extract value.
By Prateek Bebortha Business Analyst TRST01 Write to us firstname.lastname@example.org
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