Artificial intelligence (AI) and blockchain are two of the most transformative technologies of our time.
Individually, they have the potential to revolutionize a multitude of industries and transform economic and social interactions and relationships. When combined, they unlock a new frontier of possibilities that can empower a new generation of applications that benefit both from the vast productivity gains unlocked by AI and the security and transparency enabled by blockchain technology.
According to a report by Spherical Insights, the intersection of blockchain and AI is set to grow into a
billion-dollar industry within the next decade. Despite this potential, the integration of these two technologies has so far remained relatively underexplored, leaving room for further investigation as the two segments progress toward broader mainstream adoption.
In this post, we outline the concept of AI in blockchain, explore the potential convergence of these two
technologies, and discuss the benefits that can come as a result of their combination.
The Convergence of AI and Blockchain
Deep learning models excel at processing vast amounts of data to identify patterns, make predictions, and enable decision-making processes by leveraging intricate neural networks that mimic the cognitive processes of the human brain. A blockchain network offers a transparent, decentralized, and censorship-resistant Internet-native economic settlement layer that enables immutable data storage and permissionless, trust-minimized digital interactions.