Blockchain and Artificial Intelligence (AI) are two of the most promising technologies of the 21st century. Blockchain is a shared, immutable ledger that provides an immediate, shared and transparent exchange of encrypted data simultaneously to multiple parties as they initiate and complete transactions. It can track orders, payments, accounts, production, and much more. On the other hand, AI leverages computers, data and sometimes machines to mimic the problem-solving and decision-making capabilities of the human mind. It also encompasses the sub-fields of machine learning and deep learning, which use AI algorithms trained on data to make predictions or classifications, and get smarter over time .
The convergence of blockchain and AI brings new value to business. Blockchain’s digital record offers insight into the framework behind AI and the provenance of the data it is using, addressing the challenge of explainable AI. This helps improve trust in data integrity and, by extension, in the recommendations that AI provides. Using blockchain to store and distribute AI models provides an audit trail, and pairing blockchain and AI can enhance data security. AI can rapidly and comprehensively read, understand and correlate data at incredible speed, bringing a new level of intelligence to blockchain-based business networks. By providing access to large volumes of data from within and outside of the organization, blockchain helps AI scale to provide more actionable insights, manage data usage and model sharing, and create a trustworthy and transparent data economy. AI, automation and blockchain can bring new value to business processes that span multiple parties removing friction, adding, speed and increasing efficiency .
There are many use cases for blockchain and AI across industries. For example, in healthcare, AI can help advance almost every field by surfacing treatment insights and supporting user needs to identifying insights from patient data and revealing patterns. With patient data on blockchain, including electronic health records, organizations can work together to improve care while protecting patient privacy. Blockchain and AI in the pharmaceutical industry can add visibility and traceability to the drug supply chain while dramatically increasing the success rate of clinical trials .
IBM has a network of experts and partners who co-create and innovate with blockchain and AI. You can learn more about how blockchain and AI can converge to create new value for business across industries by visiting their website .