Convergence of Blockchain Technology and Artificial Intelligence

Abstract

It is beyond doubt that both blockchain technology and artificial intelligence (AI) are two emerging technologies in the field of science. Both of them have been highly unexplored in terms of their respective fields. Blockchain technology is defined as a decentralized, distributed ledger that records the provenance of a digital asset whereas AI assists computers and machines to mimic the problem-solving and decision-making capabilities of the human mind. In this chapter, we discuss the role of blockchain technology in the domains of data monetization, resource optimization, improving AI user experience, and data protection. The quality of intelligent service has been optimized through the integration of blockchain technology and AI. The aim of this chapter is to showcase how AI and blockchain can be clubbed together for opening new avenues in different domains. Block chain enables secure storage whereas AI offers new methods to analyze and generate new solutions. These two technologies have been in boom recently because all the datasets are necessary to be updated with the latest data to ensure its safe and effective usage. Together with the use of blockchain, we can create a model that can ensure optimum usage in different aspects related to the computing world.