Blockchain technology vs. Artificial Intelligence
Blockchain is a
Building blocks of blockchain
Blockchain consists of multiple blocks that contain updated information linked together in the form of a chain.
Each block is protected by public key cryptography, with access to the key limited only to the data stakeholders.
The blocks are interconnected in a way where each block contains the cryptographic hash of the previous block.
Applications of blockchain
Blockchain technology is best known for its role in cryptocurrency in maintaining an immutable and decentralized record of transactions.
Other applications of Blockchain involve managing the supply chain, transferring contracts, and protecting copyrights and royalties.
Artificial Intelligence (AI)
This technology creates digital simulating human visual perception, speech recognition, and decision-making using machines.
Building blocks of AI
AI consists of models which are smart algorithms. To develop these models, programmers initially provide input data with known output values, a process called training.
Following training, the models are tested with data where the output values are unknown to evaluate their predictive accuracy, a process known as testing.
After testing, the model is optimized and its accuracy is improved to meet the desired performance level.
Once this tuning process is complete, the model is ready for implementation.
Applications of AI
AI is applicable in various domains, such as Computer Vision, Natural Language Processing, Machine Learning etc.
Differences
AI and blockchain are futuristic technologies with different use cases that set them apart from each other in several ways. Here is a brief breakdown of their differences:
Comparison of AI with Blockchain
Artificial Intelligence | Blockchain | |
Core Concept | It involves analyzing and interpreting data, identifying patterns, and making informed decisions or predictions. | Blockchain technology involves a decentralized ledger that securely stores and verifies data within blocks. |
Data Handling | AI algorithms require large amounts of data for training and learning purposes. They analyze and process data to derive meaningful insights and then make predictions. | Blockchain does not train on any data. It stores data in a distributed record book (called ledger), of which every user (called a node) has a copy, ensuring transparency and consensus among different nodes across the distributed system. |
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Combination of AI and blockchain
While AI and blockchain are distinct domains, there are some areas where these two technologies are used together. Here's a brief breakdown of the potential regions where these fields can be merged:
Data privacy and security: While dealing with sensitive information (such as running prediction models on your account balance), the data they get trained with can be prone to serious security concerns. Blockchain technology's decentralized nature eliminates any central entity's involvement. Hence, the data remain secure.
Aggregated learning: AI uses this technique to train the data on edge devices and then aggregate the updates on a central server which reveals the data to a third person. Blockchain technology provides the facility to aggregate the updates on end devices excluding the central server's participation which ensures data privacy.
Conclusion
Both technologies can potentially drive innovation in their respective domains. As we navigate the future, the combined power of AI and blockchain can transform how we interact with data, automate processes, and ensure transparency in our digital landscape.
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