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Today, the impact of technology on development and organizational growth cannot be ignored. The use of technology has become indispensable in every industry, every sector, and in small and medium-sized enterprises.

The greatest driving force of scientific and technological innovation is its convenience. Innovation means more profits, higher productivity, and greater accountability. Technology, while delivering significant productivity gains, has other benefits, such as reducing costs and boosting development.

Historically, the invention of computers and the Internet has influenced the way organizations operate. For example, the evolution from paper documents and telephone communications to digital documents and video calls. Later, the advent of cloud computing made it easier for start-ups and large companies to focus on core values without spending a lot of time on system architecture. As Internet infrastructure and hardware capabilities mature, AI is beginning to flourish and become central to the business models of multiple organizations. Google is building new business models around data, and Facebook is relying heavily on AI models to deliver a better user experience.

“AI” is a broad term, but when people talk about IT these days, they often mean machine learning, deep learning and neural networks. When people talk about the variety of things AI can do, “AI” usually refers to machine learning, deep learning and neural networks that use big data to train algorithms and models. In short, “AI” is often used in the field of machine learning, deep learning and neural networks.

Using data and AI can solve a lot of previously unsolvable problems, but I won’t go into details here. What many people don’t realize is that AI is already embedded in every aspect of everyday life. AI applications range from smart devices on voice assistants, the widespread Snapchat Baby and Face Filter (up 205 per cent so far), to everyday apps already in every home, such as chatbots and portrait recognition tools. Now, AI is leading the way.

Blockchain will be the next wave of technology development. It can improve productivity, trace sources and reduce costs by cracking down on counterfeits. Increased productivity and reduced costs are also benefits of using AI. This confirms the inherent logic of AI’s integration with blockchain. Combining the two together produces a more effective solution.

Here are four possible uses of combining AI and blockchain:

1. The automation

The most important use of AI is automation, which increases efficiency and reduces errors. The AI is very good at repetitive tasks and rarely makes mistakes. Using AI to automate workflows ensures that processes run automatically, are consistent, and saves human oversight. AI can replace human input to help manage what humans are still achieving and improve every aspect of the process.

Automation also helps save valuable time and allows people to focus on higher-level tasks. For example, the opportunity cost of lawyers is very high. Their time would be better spent on other legal work than going through all the documents and judgments looking for evidence.

Blockchain smart contract technology aims to cut out the middlemen and provide a more simplified and automated process. With AI plus blockchain, lower-level tasks are left to machines and human resources can be more efficiently redeployed to important tasks.

2. Perform tasks that humans cannot

AI may not be able to make the same judgments as humans, but it is good at remembering and extracting meaningful content from big data. While humans can only consider three to five factors at a time when making decisions, AI can analyze thousands of elements. At Facebook, for example, it’s hard to know why users spend more time on certain pages than others, making it hard to serve ads to users based on that data. Humans can’t make multiple judgments at once like AI can. Thus, automation can increase productivity and reduce costs, while data can help organizations gain competitive advantage and strengthen their position.

The second USE of AI plus blockchain is to grab and extract data stored on the blockchain and turn it into actionable content. It will be interesting to see what can be discovered through blockchain data.

3. Make life easier

Almost every application today uses some form of AI. People are increasingly relying on AI technology, such as Uber for real-time estimated fares and delivery times; Search Google for answers, usually on the first page; Follow Netflix’s recommendations to decide what to watch again. All of these examples have custom AI models for their specific purposes. But there are many use cases that people have yet to touch, such as optimizing computer processing speed to reduce power consumption and costs.

Creating blockchain solutions without using any AI technology is like killing a lion with a spear. The third use of AI+ blockchain is to use custom AI models in dApps (distributed applications) to make life easier.

4. Democratize AI

Humans are still using AI in simple and straightforward ways. Even the most sophisticated AI products can only accomplish a limited number of tasks. Currently, only a handful of technology companies have access to the data, computing power and talent needed to train AI algorithms. Companies can use these resources to create AI products and profit from them. So the fourth use of AI + blockchain is how to make AI easier to use, more reliable, and more intuitive.

Because of its transparent and decentralized nature, blockchain is the perfect platform to spread AI to more people. Many believe that the future of AI and humans would be better if more decentralized and widely involved controls were introduced. Promoting AI means that everyone and every organization can share their AI solutions.

Cortex is a project I’ve used before. It provides the technology and tools necessary to develop smart contracts using AI algorithms and aims to make the tools used to develop smart contracts for AI available to the general public.

SingularityNet is another blockchain project aiming to democratize AI. It aims to create a democratically managed network where users can access AI algorithms through SDKS and apis.

It is foreseeable that the practical application of AI+ blockchain will become quite smooth. Integrating AI with blockchain will bring structural changes to homes, workplaces, and every industry. These new generation technologies can increase productivity, reduce costs, provide data, help facilitate AI, and create AI DApps tailored to today’s needs.

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