While the race is on for the next generation of advanced smart technologies, one prediction seems clear that Artificial Intelligence (AI) will unite with blockchain. While AI has proven to provide real-world business applications, together with blockchain the two joining creates needed security and efficiency, as well as, help understand decisions made by AI.
AI is one of the more powerful and transformative events of our times. In order for AI to fully be enabled, AI needs huge amounts of data to learn from. To date, sharing of data has not been a strong suit for many corporations which equates to limited resources for AI gathering data to make decisions. However, blockchains create a shared (open community platform), immutable (meaning unchangeable) and autonomous database. AI gets it’s missing link – endless resources of data for autonomous decision making. The potential impact it creates is the power to multiply.
An example of the power of combining blockchain with AI is seen clearly in the healthcare industry. Blockchain technology’s ability to guarantee the accuracy of data makes it useful for a number of AI applications, both for feeding data into AI systems and for recording results from them. The blockchain essentially eliminates individual data silos that are replaced by a shared and accurate datasets – more data leads to better AI models.
There is no doubt that the combination of blockchain and AI will result in structural changes in the healthcare industry, an industry that puts a high premium on protection and privacy of data. AI + blockchain enables autonomous big data on a shared platform for AI to be analyzed more efficiently while protecting the privacy of all parties involved. The blockchain will have a disruptive impact on everything from research pharmacies, clinical diagnostics, and even create a common database of health information that doctors and providers can access from any electronic medical system. Such sharing of medical research and information will in turn prompt new drug and treatment therapies to fight disease.
David Sarabia, founder of inRecovery, commented that these two technologies, in a report done by Global Digital Medical Investment and Financing Report 2017 released by StartUp Health saying, “…artificial intelligence and blockchain, have transformed the healthcare industry and laid the groundwork for its future.” The report predicts that by the end of 2018, the large-scale introduction and application of medical blockchain technology will have been seen.
The emergence of combining AI and blockchain will revolutionize not just the Healthcare industry, but we will see great advances in smart energy, IP law, cyber security, telecom and of course banking, although limitless in application.
Disruptive technologies transform traditional industries and 2018 looks to be the year where we will either see the next killer app or science fiction playing out.
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