EconomyThe next trillionaire will combine blockchain, AI and machine learning

What is the GDP of the “Terminator” economy?
Daniel DobDecember 12, 20187 min
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We can all agree that blockchain, artificial intelligence (AI) and machine learning (ML) are three of the trendiest tech innovations to date. Blockchain solves the problem of information distribution and security, AI on understanding that information and its applications, and ML pushes the frontier in automated learning and automation.

Talk about it to any venture capital (VC) company, they may be clamouring to invest into your company. Indeed, many companies have abused these terms, without really understanding its use cases and how it could flip the game altogether. Have you ever stopped to think if all three were combined to create the technology behemoth of tomorrow?

  1. Providing better encryption and keeping AI secure

By leveraging cryptography, transparency and decentralization; blockchains represent one of the world’s most secure technologies. As such, modifying or illegally accessing records requires large amounts of effort, and control over the network nodes. Its applications are endless, when considering the fact that AI systems often need to deal with sensitive data, but they don’t have strong security protocols.

Instead of accepting possibilities of data leak, or malicious activities, any project can easily implement their AI’s neural network on-top of a blockchain network. This can help provide impenetrable security, transparency, and considerably quicker associations; thanks to how data is organized on the blockchain.

 

  1. Using blockchain to understand what’s going on in an AI’s mind

AI systems are often used to carry out tasks that require some sort of intelligence, alongside the ability to make, and carry out decisions. As such, when given a task, an AI system may take a variety of decisions in its attempt to figure out the solution, and solve the matter at hand.

As we’re dealing with a computer – understanding, keeping track of, and verifying its decisions can be quite a challenge and a rigorous chore (try backtesting a simple bot which runs trading algorithms). Based on this, recording the relevant data on the blockchain can provide an innovative method of accountability, thus allowing humans to confidently check and track AI decisions for audit purposes. Additionally, the chain may also help increase public trust in the system.

 

  1. Leveraging ML and AI to control and manage blockchains

Leveraging machine learning, AI systems can quickly learn what works and what doesn’t work on the blockchain. Essentially, future blockchains will be as big as a country’s economy (it already is), with tonnes of ongoing activities and projects, with its own tokenomics. While these activities happen on the open ledger, no humans can actually keep up to speed, due to its complexities and transaction volume.

In order to safeguard the public’s interest, ML and AI can be used not only to intelligently monitor blockchains, but also to verify transactions by replacing the traditional approach of mining algorithms.

 

  1. Creating powerful systems capable of performing any task

So far, the market seems to agree that the three technologies are highly-innovative on their own, yet revolutionary when combined. Researchers and computer scientists believe that by combining the three, we can create smarter systems capable of helping with numerous complex tasks, thus improving the overall quality of life. You can pay for your electricity bill, accurate to the device you use, and even sell power from your solar cells to someone who’s located halfway across the globe.

Despite this aspect, the public doesn’t fully trust artificial intelligence, due to the numerous stories depicting AI systems taking over the world (think Terminator). However, by creating a method to ensure accountability (via blockchain) and control over an AI’s decisions, we can end up with fail-safe systems that do not start pursuing their own interests, but rather only follow the tasks they have been programmed for.

Cover photo by: hackernoon

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