- Blockchain technology is usually not interconnected and could make artificial intelligence (AI) not only safer, but much, much better too.
Given the increasing pressure on the company over the past year, it should perhaps come as no surprise that many companies have chosen to delay or lag behind their digital transformation spurts. At the same time, companies recognize that digital rework is now a prerequisite for further growth. Artificial intelligence (AI) and blockchain technologies have established themselves as two powerful DX trends in recent years.
AI has long been the stuff of science fiction fodder and has often been portrayed in the media as a rampage and hostile takeover of electronic systems. However, recent Google research shows that under the right circumstances, AI can become overly aggressive, or is that the wrong circumstances? In any case, the intrinsic structural elements of another major business trend, blockchain technology, could be the solution to fighting AI aggression.
According to Dell Technologies’ Digital Transformation Index II, a whopping 91% of companies are still facing major hurdles in their digital transformation. The biggest obstacles include persistent privacy and security concerns, a lack of internal skills, changes in digital regulations and a poor digital culture within the company.
For example, the Dell data shows that there is a significant trust issue with DX readiness as business leaders deal with a lack of trust in their own company’s digitization efforts. A third of decision-makers do not trust that their company adequately meets the legal requirements, adequately protects customer data or maintains employee data.
In fact, 43% of business executives believe that within five years their companies will struggle to prove their trustworthiness, according to Dell’s index, indicating a really sad state of confidence in which to pursue a proper DX. However, those same leaders recognize that transformative technology will play an important role regardless. 91% plan significant technology investments over the next one to three years, including 40% for AI and 21% for blockchain applications. Building trust through immutable, transparent records is an essential feature of blockchain technology.
A key feature of the blockchain infrastructure is the decentralized network of nodes. These nodes work together to solve complex problems and ensure secure “transactions” in parallel with how AI determines best course of action. By combining the two, each decision AI branch is replaced by nodes in a decentralized network that must be confirmed by all parties, which enables a logic-based, systematic decision-making system.
When applied to AI, users can ensure who is making changes to that dataset, effectively democratizing the decision-making process. Users also have a clearer understanding of the decision matrices of the AI systems through clear and transparent decision records.
AI systems improve when more quality data is fed into them. AI decisions, such as a bot detecting fraudulent financial transactions, are systematically recorded at a data point and usually stored in a single static location. However, blockchain is basically a transparent general ledger.
With blockchain, the records stored in it can be completely transparent and traceable, making the audit more reliable. This ensures confidence in the record, clearly shows that tampering has occurred from the point at which the information was recorded and the point in the review process, and ensures that the AI system is making the right decisions.
| @ thecrystalcrown
Joe’s interest in technology began when he first saw footage of the Apollo space missions as a child. He’s still hoping to see either the first man on Mars or Jetson’s flying cars in his life.