31 Views· 30 January 2023
AIML SERVICES AND SOLUTIONS FOR BLOCKCHAIN INITIATIVE (1)
Blockchain is a decentralized, immutable database that allows many parties to exchange encrypted data instantly, transparently, and concurrently as they start and finish transactions.
Artificial intelligence uses computers, data, and occasionally machines to simulate how the human mind makes decisions and solves problems. It also includes the fields of machine learning and deep learning, which use AI programmes that have been trained on data to make predictions or categorical determinations and improve over time. Automation of monotonous activities, better decision-making, and improved customer experiences are all advantages of AI.
Benefits of Blockchain and AI together
Authenticity
The dilemma of explainable AI is addressed by blockchain's digital ledger, which provides information on the conceptual underpinnings of AI and the provenance of the data it uses. This increases confidence in the accuracy of the data and, consequently, in the suggestions that AI makes.
Augmentation
Blockchain-based business networks will benefit from a new level of intelligence because to AI's amazing speed and ability to read, comprehend, and correlate data in great detail. By giving users access to vast amounts of data both inside and outside the company,
Automation
Blockchain, AI, and automation can provide new value to business operations involving numerous parties by reducing friction, boosting speed, and boosting efficiency.
Almost every organisation that uses them benefits from the AI and blockchain combination, which is proven to be quite effective. The fusion of blockchain and artificial intelligence is enhancing everything from media royalties and financial security to the logistics of the food supply chain and the exchange of medical records. The combination of blockchain and AI will increase security since it will serve as a dual defense against hackers.
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