The fields of Blockchain and Artificial Intelligence are converging, and they will intersect soon. Artificial Intelligence and Machine Learning require vast amounts of data. That’s how they learn.
Meanwhile, Blockchain allows for decentralized autonomous organizations which will soon involve hundreds of millions of people. Furthermore, platforms built on Blockchain technology will soon be powerful enough to support AI applications.
At that point, AI could evolve very quickly and become, effectively, an unstoppable utility for the world’s population. No one knows exactly how this convergence will play out. Certainly, I do not either, but I know this is an exciting time and I plan on following the developments as they emerge. The results will most definitely affect us all.
What is Blockchain?
Modern technology allows people to communicate directly. Voice and video calls, emails, pictures and instant messages travel directly from A to B maintaining trust between individuals no matter how far apart they are.
When it comes to money, people have to trust a third party to be able to complete a transaction. Blockchain technology is challenging the status quo in a radical way by using math and cryptography
Though it sounds like a series of defensive maneuvers ripped out of an NFL playbook, the blockchain is actually a way to structure data, and the foundation of cryptocurrencies like Bitcoin. This coding breakthrough—which consists of concatenated blocks of transactions—allows competitors to share a digital ledger across a network of computers without need for a central authority. No single party has the power to tamper with the records: the math keeps everyone honest. Forty of the world’s top financial firms are experimenting with the tech.
Blockchain is a distributed public ledger for transactions of value. It’s the underlying technology behind Bitcoin but it will revolutionize the entire financial world, including real estate, stock market, insurance, retail and even democratic voting. Anything of value can be recorded using blockchain technology, eliminating intermediaries and increasing efficiency. This video discusses how blockchain technology works and implications for our world.
Patrick Schwerdtfeger is a leading authority on technology trends including big data, artificial intelligence and blockchain. He has written four books and is a regular speaker for Bloomberg TV. Contact us if you are interested in booking him as a keynote speaker at your next corporate event.