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Blockchain technology and AI, two powerful forces working together

November 30, 2023

There has been considerable attention paid to artificial intelligence (AI) as it offers the power to change how we look at and use data. A cynic may argue that there is little actual ‘intelligence’ present in current AI but AI is, instead, giving the user ‘access to information’. That is as it may be, but there is no denying we are faced with more and more data in our business and personal lives and AI can certainly help to organise and interpret, and so help make better decisions. LCX.com describes generative AI as “a subset of artificial intelligence, [is] transforming the way we analyze and interact with data.” Deep learning algorithms and neural networks which both need a definition and a source have made it possible for generative AI to be even more creative, so opening up a world of unique possibilities. One of the most exciting ways that generative AI could be used is in data processing since it can sort vast amounts of data and find helpful information using complicated algorithms. With this ability, computers can hopefully make more informed decisions without human bias, and also discover trends and patterns that historically may have been missed. With creative AI, businesses can improve processes, encourage new ideas and gain a competitive edge. For example, the healthcare sector can determine new treatments and identify earlier diagnoses and courses of treatment for patients that may represent higher risk characteristics.

Understanding blockchain technology

On the other hand, blockchain technology strengthens security whilst enabling personal data to be shared and trusted in a decentralized setting. Blockchain technology allows the creation of digital ledgers that cannot be changed - these ledgers record events and data and are checked by a network of participant nodes. Blockchain is now a significant player in the field of managing data in a wide variety of industries and jurisdictions globally. It uses cryptographic algorithms and distributed consensus processes to ensure real and correct data. Furthermore, this level of trust can often remove the need for intermediaries, lower the risk of fraud and make data sharing more efficient and faster.

Generative AI and blockchain collaboration

When generative AI and blockchain technology come together, they create a powerful synergy that strengthens both technologies whereby offering incredible possibilities in many areas, such as finance, healthcare, supply chain management and the creative industries. Generative AI can analyze vast amounts of data to find trends and gain valuable insights and because blockchain cannot be changed, these ideas can be kept safely and accessible to many people worldwide. This openness makes making decisions based on data from correct and reliable sources easier, thus building greater confidence and trust. When blockchain technology and creative AI come together, they offer the opportunity to meet the challenges in various use cases.

Protecting your intellectual property rights

However, the protection of intellectual property rights is one of the most critical problems in the field of creative AI. When AI systems create original material, ownership and crediting issues arise. Blockchain technology can therefore be used as a public, unchangeable ledger that keeps track of when each piece of material was created. Blockchain can help set up a clear chain of custody and facilitate automatic royalty payments to content authors by linking ownership and usage rights to a digital token or smart contract. A good example is FileProtected, a Californian-based business established by the professional photographer, Andy Rosen, which enables people with photographs, lyrics, videos, songs and any digital content to have them time-stamped and recorded on the Bitcoin blockchain-powered platform.

Increasing the safety and privacy of data

Generative AI systems need vast data to learn and make new material. But, again, when working with private data, privacy and security issues often arise. The decentralized nature of blockchain makes it possible to store and share data safely, lowering the risk of leaks and unauthorized access. XYZ Healthcare is a leading healthcare provider that manages sensitive patient information and with the increasing threat of cyber-attacks and the growing importance of data privacy, XYZ Healthcare implements a comprehensive data security and privacy solution, partnering with a reputable cybersecurity firm, SecureData Solutions (SDS). SDS itself provides a state-of-the-art encryption system with access controls and continuous monitoring to enhance the safety and privacy of XYZ Healthcare's data. Furthermore, blockchain's cryptographic techniques and consensus processes add an extra layer of security, ensuring that the data used by generative AI systems is correct and kept private.

In the field of creative AI, blockchain technology can change the way that teams work together on projects. Blockchain-powered smart contracts can make it easier for everyone involved in the creative process to work together in a clear and automated way by setting the rules for sharing profits and other terms and conditions. CollaboraTech, an innovative technology consortium, aimed to transform the way organizations collaborate and co-create by harnessing the power of blockchain and generative AI. So, by recognizing the potential of these technologies to enhance transparency, security and creativity, CollaboraTech has embarked on a project called CollaboraChain. This makes the environment more open and fairer, whereby encouraging creators, developers and investors to work together and develop new ideas. The convergence of generative AI and blockchain technology certainly prompts us to question and contemplate the profound implications for our future. As we navigate the era of data abundance, AI's ability to creatively process information and blockchain's unyielding security form a formidable alliance. Yet, amidst the promises of enhanced decision-making, intellectual property protection and collaborative innovation, critical questions linger, including:· are we witnessing the birth of a technological epoch where trust, transparency and creativity converge seamlessly?

· how will the marriage of generative AI and blockchain redefine our approach to intellectual property, unlocking new frontiers of innovation while addressing ownership and attribution challenges?

· as we celebrate the potential for decentralized collaboration through smart contracts, do we adequately consider the ethical dimensions?

· how can we ensure fairness, inclusivity, and responsible use in a landscape where AI and blockchain intertwine to shape our collective future?

· in our pursuit of efficiency and security, are we vigilant enough to safeguard against unintended consequences?

· can we strike a balance between the transformative power of these technologies and the potential risks they may pose to privacy, autonomy and societal structures?

The journey towards a future shaped by generative AI and blockchain collaboration is undeniably thought-provoking. As we navigate this uncharted territory, it becomes imperative to not only embrace the possibilities but also engage in an ongoing dialogue that challenges assumptions, considers ethical implications and ensures that this technological evolution aligns with our values and aspirations. Next week’s article looks at the collaboration between generative AI and blockchain, exemplified by initiatives such as TrustChain, which promises a transformative impact across industries; this synergy ensures trust and authenticity in an era of misinformation. Use cases span healthcare analytics, supply chain optimization, fraud detection in finance, energy sector transformation, digital art authentication, secure voting systems and personalized shopping experiences. This convergence reshapes norms, offering a future where innovation, security, and transparency prevail.

 

This article first appeared in Digital Bytes (21st of November, 2023), a weekly newsletter by Jonny Fry of Team Blockchain.