World of Artificial Intelligence and Blockchain

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Artificial Intelligence in today’s world

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The rampant growth of Artificial Intelligence is improving daily day lives and transforming businesses across all verticals. It goes without saying that improvement in tools, software and cloud platforms have made it possible.  The future seems fascinating as everything in our way of life is going to change exponentially in the next 20 years. Many futurists and renowned physicist like Dr. Michio Kaku compares AI revolution to the invention of alphabets, agriculture, and machines which are the great turning points in human history.

In the coming years, AI will be everywhere and nowhere including chips embedded inside our body to read vital signs; chips inside our contact lenses providing real-time information on any object we lay our eye on.  Think about college students during exams using such technology …. for once you don’t have to memorize anything that your professor has taught you and it will revolutionize education. If you feel sick your vital signs will be reported to your artificial doctor (chatbot or chat docs) and you get instant treatment virtually for free.  Doctors will use these chat docs to be more productive in what they do. Same goes for insurance, banking representative, lawyers and so on. So, AI is going to be an augmenting platform rather than seen as a replacement for human beings.

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AI will augment our humanity—it will give each of us “superpowers” to meet challenges of all kinds—including some of our biggest ones.” – Harry Shum, EVP, AI and Research

Changing economics

AI is also drastically changing urban economics and market capitalism.  Today the market is not perfect in the sense that as a consumer you don’t know how much it exactly cost to make a pen or bottle of wine. But going forward with IoT and AI you will know exactly how much premium you are being charged and make a more informed buying decision. According to Dr. Michio Kaku, this would lead to perfect capitalism – “With all these AR, VR and AI devices, we will know exactly who has the best and cheapest product. Furthermore, the retailers will know exactly who the buyers are and their preferences. Using targeted marketing, they will know precisely how to reach the customers. So, supply and demand will be perfect”.

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A market like this leads to immense benefits – consumers pay less, competition is more, and retailers understand consumer behavior better through big data and data mining. In the future, it will be possible not only to upload and download data but also emotions and feelings. While buying a car you can search and feel what others felt while driving that car. In a way, you can upload and download your memory and some physicists call this the Brain-Net.

Blockchain as governance of AI

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In the future of connected businesses and data flowing in humongous proportion across the trust boundary of your organization, governance, and security become a profound challenge. For example, you will not want your memory to be tweaked in any way. Data should be immutable in such a world. The impact of corrupted data is exponentially amplified as businesses become more connected and reliant on each other.  Blockchain seems to be a great fit for such a situation where you are constantly interacting across your trust boundary and you need a way to make data immutable. Blockchain will enforce the policies and security needed and individuals and even business to could participate in a consortium to transact.  AI devices and solutions can form a consortium (a blockchain network) and start interacting with each other. These smaller consortiums, in turn, could participate in a bigger consortium and start building up a connected network. In a way, the whole Brain-Net of the future will be running on Blockchain.

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