POINT ROBERTS, Wash., Nov. 27th 2018 (GLOBE NEWSWIRE) – Investorideas.com a source of global investor news covering Artificial Intelligence (AI) and blockchain releases a snapshot of how the two technologies are synergistically built.
While artificial intelligence and blockchain technology autonomously gain a lot of attention and clamor, they are already complimenting and accelerating the already rapid growth.
An article by Forbes entitled: Can AI Bank on Blockchain feed the future progress of science and medicine? states that as the application and scope of Artificial Intelligence in health care and medicine grows, it places excessive demands on current resources. Blockchain technology can make the use of resources more efficient to reduce a potential "limit to innovation".
… Blockchain or Distributed Ledger Technologies (DLT) are touted and seek to offer a solution with more effective consolidation and dissemination of resources, which can help artificial intelligence to do more by being a reliable source of power from which tap into.
The article cites the COO of the blockchain and the crypto marketing company Savii Digital, Siim Õunap on how cryptography was conceived in part to address the problem of resource consolidation encountered with artificial intelligence:
"One of the little known reasons for setting up the Bitcoin protocol was to get enough computing power to solve complex mathematical problems that no computer could do on its own," he said. "As the process progressed, the virtual currency evolved and the virtual currency came in. Although the computing power was used for something else, it created an ideal solution to combine the hardware efforts to power the virtual currency. The other artificial intelligence and the IoT Now, almost a decade since it started, it can be seen to be widely used by many companies and I think this is only the beginning. "
This point is taken up by Professor Andrew K. Hacker of the University of Harrisburg and founder of AI of thought.
"Blockchain technologies maintain the promise of adding structure and responsibility to artificial intelligence algorithms and the quality and usefulness of the intelligence they produce," he said.
This is confirmed by an Accenture report (NYSE: ACN) entitled: Powered by Blockchain: Realize the full potential of AI. The report states that blockchain is the "perfect partner for AI data", claiming that the former expands the access of the latter to the data.
The combination of artificial intelligence and blockchain is fueling the "fourth industrial revolution" by reinventing the economy and the exchange of information. The powerful combination of artificial intelligence and blockchain is slowly but surely transforming industries and institutions around the world, including: smart energy, smart buildings, public science, supply chain, smart devices, IDs and health care.
The relationship between the two rapidly growing technological fields is shown symbiotic in a recent Technavio research report titled: Global market of Blockchain technology 2017-2021. The report provides an annual growth rate in the global blockchain market of "almost 56%" in the forecast period.
AI provides several features to manage decentralized monetary systems. AI algorithms can be used to predict the value of bitcoins, which can help bitcoin traders manage bitcoin transactions. In addition, FinTech companies are analyzing the implementation of the IA in financial transactions. An increasing number of financial companies are trying to investigate the different implications of machine learning and artificial intelligence for their activities. Robotics also plays a consultant role and is automating the processes of FinTech solutions avoiding interruptions. These robots help to reduce financial transactions, thus providing great transparency, so that companies can know the real profitability that is obtained day by day. This will allow customers easy access to comparative information and will enable investors to be better informed before making decisions about their financial plans.
An example of this is the developer of IoT and AI Gopher Protocol, Inc., (OTCQB: Goph), of which Avant! AI engine powers Wise Network S.A. & # 39; s Enigma Chip. Enigma Chip is designed for the implementation of a radio-based blockchain system, which allows for the distribution of accounting books, robust security and extensive real-time data management for IoT and mobile domains. Douglas Davis, Gopher's interim CEO, illustrated the shared benefits of using AI technology and blockchain:
"We are excited to see the implementation of our technology platform in the Blockchain space in collaboration with GBT[[[[Genesis Blockchain Technologies]and wise, "he said." As previously stated, Gopher is not a cryptocurrency or a blockchain company, but it is a provider of IoT Asset Tracking technology and Global Mesh Network that licensees can use to improve their blockchain-based deals. It is impressive to see how the talented people of GBT and Wise are taking our IoT and AI technologies and implementing them in their Blockchain, creating value and use for the public. "
This was prefigured at the Blockchain Futurist Conference in San Diego this August, when Gopher's CTO Danny Rittman, who is now also CTO of Wise, spoke about the potential role of AI in the blockchain space.
"We believe our artificial intelligence system could be used in this sector because it can be integrated into each transaction (blockchain) resulting in accurate history and audit trail and greater integrity," he said. "We also believe that the AI system can provide additional IT security through decentralized monitoring, once integrated into an exchange, we expect that the artificial intelligence system will be able to manage and supervise all activities together with the exchange models of users ".
Although it is all but clear how the market will appear, even in a few years, the interpenetration of both IA and blockchain technologies is already seeing a significant impact in the present.
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