What Happens When Artificial Intelligence, Blockchain Technology, and IoT Meet?
We all know that the 21’st century is considered technically the most advanced and phenomenal when it comes to the problem-solving paradigm. The current in demand trends is for Blockchain, IoT and artificial intelligence world. The history of artificial intelligence was started from machine learning, neural network and more importantly the applied cognitive science. We all have heard about computing power and the hardware resources in a central processing unit of a computer or technically a machine. The arithmetic logic unit works as a predefined set of operations with the binary operator, logical operator, arithmetic operators and more where all types of mathematical operations take place.
These have been outdated phenomenon and have been obsolete [hidden, yet impressive]when it comes to the latest advancement in logic & decision making through machine learning via cognitive and voice-based output generation in human pitch to make an illusion if it’s a chatbot or a real person. How has this been so doable for the technologists? Obviously through the sequential learning and steady growth in the field of product development. The artificial intelligence is a superset of machine learning and machine learning is of deep learning. It has been possible through in-depth analysis and successive analysis & assessment of any problem that generated more complex computing. However, apart from computing, there exists a pack of data handling needs and they are well known to the world. Yes, they are system performance, system optimization at the same time, the speed of computation, security, and validation of the data, robustness, and database distribution for fast computation i.e. decentralized database, cost reduction through automation and performance amplification.
Some of the data handling portions as mentioned above have been covered through artificial intelligence such as decision making through cognitive science, best case, average case and worst case analysis and output delivery via best pattern match on a real-time basis.
Now we are going to introduce Blockchain in the AI world. Well, as mentioned, a lot of decision-based results and output can be achieved if the AI enabled computation power is used. What if we are provided a completely decentralized, crypto enabled secured, high performance, speedy and permanent database in the form of the ever existing ledger? Yes, we are talking about Blockchain where a sequence of activities is stored as a verified and committed log on a shared network.
This world would never be so technically advanced if proper research and development would have not been done in the field of artificial intelligence, Blockchain, and the Internet of Things.
As the use of technology has increased, there has been an ever-growing need for the storage of data. This is where Cloud storage and technology evolved and today has become an integral part of our life. We can see a lot of cloud-based web services and their applications. Everything is on the go and can be accessed from anywhere. Also, the technology used in driverless cars, smart devices such as smart watches, etc is something around and going forward a lot of research is either due or happening at an exponential rate. This is where IoT and Artificial Intelligence comes into action. The connections and the operations governed by these technologies need to be really fast and phenomenally secure. This brings us to the need of blockchain.
What and why do we need Blockchain:
The blockchain is redefining how trusted business operations should work. All of us know that the internet by itself is very susceptible to fraud & always a possibility of a security breach. Blockchain, however, seems to be a capable solution to these problems. It also ensures that there isn’t any loophole while accessing it with a combination of Artificial Intelligence and the Internet of Things. IoT networks are almost the public networks and it is pointless to specify how exposed public networks they are. Blockchain can incarnate here and help protect the networks by creating straight and permanent indexed records. The design of blockchains is such that it is almost difficult to hack or tamper/change data and take control of systems. Thus going further, blockchains will be the answer to provide the most secure network to any database that needs to maintain confidential data.