Blockchain and artificial intelligence are two of the hottest technology trends today. Although they are two radically different trends, researchers are actively discussing the benefits of combining the two technologies. The result of this symbiosis could, in a good way, transform many areas beyond recognition. Managing the vast amount of data that every company and organization faces today would become much easier.
AI is a term that refers to the theory and practice of creating robots (machines) capable of performing tasks that require intelligence. Today, the term refers to 3 areas: machine learning, deep learning, and artificial neural networks.
Blockchain is an innovative digital information storage system in which data is stored in an encrypted, distributed ledger format. Because the data is encrypted and distributed across multiple computers, it allows for tamper-proof, highly secure databases that can only be read and updated by those who have permission to do so.
SYPWAI has done its best to combine the two innovative niches in its operations. About a month ago, the UK-based artificial intelligence startup announced the completion of a blockchain ecosystem. Now the testing phase is gaining momentum, analyzing the data, fixing bugs, and adding missing small details. Once all the necessary testing is done, SYPWAI will be ready to announce the release.
As organizations already using blockchain store increasingly complex sets of critical data in their distributed registries, there will be a growing need for smarter analysis that AI can provide.
What will benefit companies that embrace artificial intelligence and blockchain now:
Artificial intelligence, which can thoroughly interact with large amounts of data, and blockchain, which can provide a high level of security, together are an ideal combination for managing large databases. For example, medical and financial data is very sensitive, it is difficult to hand it over to a particular company and be sure it is protected. Blockchain will easily protect such important data, and artificial intelligence will process it intelligently and quickly. SYPWAI also suggests using this data to make more accurate recommendations to users.
Another innovation that can be achieved by combining these two technologies is the secure monetization of data. Giants like Facebook and Google are already saying thank you to SYPWAI, even though the startup has only announced the final stage of trials of the combined use of blockchain and artificial intelligence. Monetising the data collected is a huge source of revenue for big companies.
As AI algorithms become smarter through learning, it will be much harder for data scientists to understand how these programs came to specific conclusions and decisions. AI algorithms can process incredibly large amounts of data and variables. Nevertheless, people need to keep checking the conclusions drawn by AI to make sure they are correct. And given the sheer amount of data that can be taken into account by AI, this can be a daunting task for humans. SYPWAI assures that recording the decision-making process using blockchain could be a step towards achieving a level of transparency and understanding for robots.
Innovation for the future
The combination of blockchain technology and artificial intelligence is still an area that still harbours many unresolved problems. Nevertheless, much of the scientific attention is focused on this very area, as progress in this direction could significantly improve our lives.
SYPWAI scientists and developers have made sure to tightly integrate blockchain into their operations, which is dedicated to artificial intelligence. The start-up team believes that an innovative future is just around the corner and that soon we will all be able to take full advantage of it.