Blockchain Could Be Crucial for Moving AI Tech Forward

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Blockchain Could Be Crucial to Move AI Tech Forward

Many startups are attracting capital and developing products to make artificial intelligence (AI) more accessible, as well as better protecting personal data via blockchain tech.

Blockchain to Decentralize Artificial Intelligence

Venture capitalists, entrepreneurs, and academics are rushing to embrace the awesome synergy resulting from the application of Bitcoin’s (BTC) 00 blockchain technology and artificial intelligence (AI).

Dr. Ben Goertzel, CEO of SingularityNet and chief scientist at Hanson Robotics, affirms that blockchain might help make AI more accessible for small and mid-size companies. Indeed, he’s asserted that AI could be ‘democratized’ through the use of blockchain technology.

According to The New York Times, Dr. Goertzel and Dr. Dawn Song, a computer science professor at the University of California, propose that:

The blockchain could be a crucial way to push back against some of the most worrying trends facing the field of artificial intelligence.

Likewise, DeepBrain’s management believes that blockchain can help small-size companies that do not have the necessary funding to break into the expensive AI industry. A company press release says:

DeepBrain Chain is the world’s first AI computing platform powered by blockchain. It uses blockchain technology to help AI companies save up to 70% of computing power costs while protecting data privacy in AI training.

Blockchain Key for Data Protection in the AI Environment

One of the primary virtues of a centralized blockchain is that it eliminates intermediaries and any central authority. Decentralization is essential to allowing AI networks to exchange vast amounts of data without a singular authority in place controlling the data or the algorithms.

Nathaniel Popper of The New York Times writes that several startups are already setting up blockchain-based marketplaces for trading data. For example, Popper refers to Ocean Protocol, which is a decentralized data exchange protocol for sharing data and services through the use of blockchain. According to the company website, Ocean is designed to unlock data for AI allowing sharing and selling in a secure environment.

Nathaniel Popper

In this regard, many entrepreneurs concur with Dr. Song and Dr. Goertzel that blockchain has the power to facilitate a far-reaching distribution of data and algorithms. Therefore, blockchain is likely to play a key role in determining how AI will continue to develop.

As a result, Song and Goertzel, in an interview with The New York Times, highlighted the importance of ensuring that machine learning capabilities should be under the control of the data owner rather than big companies.

For example, people are concerned about the fact that Google and Facebook have immense power to obtain and store personal data. But to counteract this problem, Professor Song is now developing Oasis, a blockchain-based technique to protect the data being sold, “so that no one — not even the company using the data — will get a copy of it.”

What are your thoughts on combining the power of blockchain and AI technologies? Let us know in the comments below.

Images courtesy of Shutterstock, Twitter (@bengoertzel, @nathanielpopper).

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How the Electric Vehicle Industry Could Drive Cryptocurrency Forward

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tesla electric vehicle

Bitcoin’s technology combined with the power of the Internet of Things and artificial intelligence are intersecting with self-driving vehicles. And they are confronting a common problem: Talent shortage. In this regard, the experience gained by the electric vehicle industry might help.

Limited Talent

A Korn Ferry Institute study concludes that a major world crisis is imminent, because, by 2030, demand for skilled workers will outstrip supply, resulting in a global talent shortage of more than 85.2 million people. Moreover, the study forecasts that talent shortages could slow the ongoing digital revolution.

For example, right now, the talent shortage of programmers capable of working with COBOL is acutely affecting the banking, fintech, and most emerging industries.

Demand for Bitcoin Jobs Surging as Price Continues to Climb

According to David Silver, self-driving car team leader at Udacity, limited talent hinders the development of driverless cars. Specifically, Silver points out, “very few people know how to program driverless cars.”

The same problem is distressing the crypto industry. Forbes contributor Maria Peretz remarks that few people are cognizant about blockchain and cryptocurrencies,

Executives who are approached to work for these startups have usually heard of Bitcoin, the most well-known cryptocurrency, and they may vaguely know blockchain has something to do with securing digital currency. However, they often have a fleeting grasp of the nuances and possibilities of this dynamic industry. Their haziness and lack of knowledge can be a formidable challenge to startups that want to land key talent in a competitive hiring market.

E-Car Roadmap Could Help Solve the Shortage of Talent

In August 2018, in the U.S., a record high of 7.14 million positions remained unfilled. Regarding the crypto space, statistics provided by Glassdoor show that for the last twelve months, there has been a 300 percent increase in the number of jobs linked to Bitcoin, the blockchain, and other cryptocurrencies. Forbes reports,

As of August 2018, there were 1,775 bitcoin and blockchain-related job openings in the U.S. — up from 693 at the beginning of the year and 446 at this time last year.

Although in sectors such as life sciences, the percentage of professionals using blockchain has tripled since 2017, the shortage of programmers and blockchain professionals continues to increase.

In this regard, Peretz seems to suggest that the electric vehicle (EV) industry is ahead of the crypto industry. Thus, she suggests that crypto companies could benefit from the model the EV industry applied a decade ago, when “Like with bitcoin and cryptocurrency today, exactly what talent the EV needed in 2010 was unclear.”

“This strategy requires a delicate balance of simplicity and sermonizing, clarity and passion. Fortunately, there is a roadmap for how to do it well: Follow the electric car down the highway to success,” Peretz adds.

Do you think the experience gained by coping with the talent shortage in the electric vehicle industry could help the crypto industry? Let us know in the comments below!

Images courtesy of Shutterstock

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