Two technologies are now making great strides in changing the world as we know it: blockchain and AI (Artificial Intelligence) They’re driving the next wave of digital transformation and innovation. Both have the potential to significantly improve existing business practices, create new business models, and disrupt entire industries in the process. There’s a strong case for both technologies to converge, with blockchain technology improving the security and transparency of businesses and their data. AI is defined as an entity capable of performing tasks that would normally require human intelligence.
Hotel Manager turned Crypto Journalist and TA Trader.
Throughout history, there have been several technological innovations that changed history and turned the world on its head. The invention of the printing press democratized knowledge, giving the masses access to more easily available information. The compass became pivotal in maritime exploration, leading to the discovery of the “new world.” Electricity liberated us from our reliance on daylight. The telescope gave rise to astronomy and the realization that humans aren’t the center of the universe.
The list goes on and on — but these are all prime examples of groundbreaking technologies and inventions that changed the world.
These days, two technologies are now making great strides in changing the world as we know it: blockchain and AI (Artificial Intelligence). They’re driving the next wave of digital transformation and innovation.
Both have the potential to significantly improve existing business practices, create new business models, and disrupt entire industries in the process. There’s a strong case for both technologies to converge, with blockchain technology improving the security and transparency of businesses and their data. At the same time, AI can analyze data and patterns to help optimize outcomes.
What Is AI?
It’s important to grasp the fundamental definition of AI to really understand how it works and its true impact. AI is defined as an entity capable of performing and completing tasks that would normally require human intelligence.
It’s capable of identifying patterns, analyzing situations or data, and predicting or presenting a certain outcome. AI can also learn from new data it’s provided to significantly improve its analysis. AI is fairly dependent on data, though, making the quality of data extremely important.
Top Five Companies that Strongly Believe in AI
1. DeepBrain Chain
Established in 2017, DeepBrain Chain is a low-cost, decentralized, and privacy-oriented AI platform utilizing blockchain technology. The company is building the world’s most extensive high-performance, distributed computing network based on blockchain. Furthermore, it’s becoming one of the most important pieces of the 5G, AI era.
Acting as a decentralized neural network, it delivers a computing network that aids in AI development.
It consists of two significant parts that allow this to function: high-performance computing power and blockchain networks. The former was launched in August 2018, and the latter in May 2021. DeepBrain Chain’s main network runs on Polkadot Substrate.
It’s achieved significant usage in the blockchain space and different scenarios, such as AI, Cloud games, biopharmaceuticals, and more.
2. Matrix AI
Matrix AI’s white paper describes it as the next generation blockchain, leveraging the latest in artificial technology to resolve several key challenges – those that plague the development of business behavior with cryptocurrencies and blockchain.
Examples of these challenges include programming smart contracts and associated barriers, such as slow transaction speeds, lack of security of smart contracts, and the absence of flexibility when managing blockchains.
Matrix AI leveraged the latest AI technology to build a cryptocurrency with accessibility, enhanced security, flexible operations, and high transaction speeds. The project also bundles in auto coding intelligent contracts, AI-powered cybersecurity, a dynamic delegation network, and adaptive blockchain parameters, along with an AI-powered virtual machine that is capable of identifying potential loopholes to ensure security during malicious attacks.
A decentralized and transparent savings management platform, Peculium utilizes AI and machine learning to help users maximize profits and savings, while helping them minimize the risks that come with investing. The project also allows users to monitor and manage their cryptocurrency assets through its next-generation financial advisor, AIEVE. AIEVE is the first AI technology developed primarily for blockchain.
Powered by a decentralized protocol, SingularityNET is a full-stack AI solution, allowing AI to coordinate at scale to enable these services to communicate and carry out transactions. The project combines blockchain technology and AI and enables virtually anyone to leverage a network of services, agents, and AI algorithms.
AIWORK is built on a consensus network of AI computing resources, which is backed and supported by human experts. Utilizing AIand human experts in tandem, the project generates normalized and enhanced metadata for online videos. Developers using the protocol can also create decentralized applications (dApps), while participants in the network can run AI nodes or provide expertise.
AIWORK aims to decentralize the operations of AI and human experts, allowing decentralized applications to benefit from enhanced metadata. Additionally, to help manage the ever-growing amount of video content, AIWORK created ContentGraph, it’s trademark content safety index that serves an integral part of its network. This enables users to not only benefit from AIWORK’s better metadata — and therefore discoverability — but to set and achieve guidelines for their communities and platforms.
With blockchain technology and AI driving technological innovation forward, we’re seeing more companies adopt both to maximize their output. . It’s only a matter of time before AI-driven solutions run on blockchain technology are the norm, creating new products and solutions for businesses and industries.
The technological world is changing for the better, and we’re just at the beginning of this massive movement.
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