Exploring the Synergy: AI Enhancing Blockchain, Blockchain Empowering AI, and Their Convergence Across IoT Applications and Beyond

Abstract

Artificial intelligence (AI) and blockchain are two rapidly evolving technologies that have found applications across various domains as abundant data is available through the Internet of Things (IoT) technology. As a digital ledger technology, blockchain establishes a distributed platform for transparent and reliable transactions. On the other hand, AI automates and enhances decision making in business activities and personal contexts. While each technology excels in its own right, their integration mutually benefits and forms a powerful alliance that provides substantial value. This article presents a comprehensive survey of current research on the integration of AI and blockchain. Specifically, it explores how blockchain enhances AI functionality, how AI supports blockchain, the advantages derived from their convergence in securing and improving various domains, including IoT applications and beyond, as well as the challenges, opportunities, and future research directions in exploring their convergence.