The combination of blockchain and AI is nothing short of a fantastic duo. However, when you count IoT into the mixture, the possibilities are simply mind-boggling. In this day and age, where data reigns as a primary currency and trust is a valuable commodity, blockchain technology emerges as a vital player. It plays the role of a missing piece in the puzzle. It helps seamlessly integrate AI, IoT, and cloud computing. Intrigued? Now, let us delve deeper into the blog and explore how this technological trinity works its magic.
The Trust Challenge In AI, IoT, And Cloud Computing
From smart cities to manufacturing and healthcare, the mix of AI, IoT, and Cloud computing has opened new possibilities. But there are significant challenges, particularly around trust. With centralized authorities responsible for AI, users must place extreme faith in them to produce trustworthy business outcomes. With blockchain integration, the trust and confidence needed for end-users to adopt and rely on AI-based business processes can be delivered.
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Blockchain Enriches AI
The three primary components of AI, data, models, and analytics, are centralized processes, making it challenging to establish trust among cautious users. Blockchain can decentralize these components, which will provide the necessary trust and confidence to end-users. The blockchain ledger can function as a digital rights management system, storing access management systems and permissions for a business to access and use user data.
The Role Of Blockchain Technology In Secure Data Sharing
Do you think data sharing between devices in the IoT ecosystem is safe today? Not precisely, isn’t it? No worries, blockchain can encrypt data with cryptography keys that will be accessed only by authorized devices. So this will ensure a secure and transparent way of sharing data.
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Provenance Of Training Models For Machine Learning
With blockchain technology, the provenance of training data for machine learning and an audit trail of the evidence that led to the prediction can be tracked. This can help businesses prove that they are not juicing up their books by tagging fruits more often as apples, for example, if that is the more expensive of the two fruits.
Compliance With GDPR
The General Data Protection Regulation (GDPR) requires that any decision made by a machine be explainable, with fines that could cost companies billions of dollars. Blockchain can provide an immutable audit trail of transactions that can help companies show how their algorithms arrived at a particular decision, ensuring that they are compliant with GDPR.
Closing Words
Can you picture a world where a machine can communicate with each other, share data and make decisions on it? Sounds like something straight out of a sci-fi movie, isn’t it? But, hold on, how can we ensure that the shared data is secure and trustworthy? Fear not, gentlemen, for the blockchain is here to save the day! With its unmatched ability to safeguard data, your precious information is in safe hands. So sit back, relax, and let the blockchain work its magic.
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