AI and blockchain. These two stand at the forefront of the tech world and have been causing tsunamis since their inception. Currently, the AI industry stands to reach a market valuation of over USD 180 billion in 2024 and the market cap for the crypto/blockchain industry is sitting at a whopping $2.2 trillion (At the time of writing). The size of these industries is staggering, but what if we can combine the two to create a mutually beneficial relationship to push everything above and beyond?

Let’s dive into that.

What is AI and Blockchain?

First, we start with understanding what artificial intelligence (AI) and blockchain are. There are plenty of long articles on the subjects, so we will only provide the bare minimum you need to know. 

AI, to put it simply, is the technology that uses computers to simulate human intelligence, train of thoughts, and actions. An AI will act, as close as it’s capable, like a human and solve problems in a way that simulates a human. Blockchain, in its simplest form, is a distributed digital ledger that records transparent data and transactions. Blockchain technology heavily emphasizes transparency and immutability.

Both of these technologies offer the ability to build applications or networks of varying utilities, and their seemingly endless potential is what everyone is so hyped about. Taking it further, the idea of combining the two has become a concept many are eyeing or pivoting towards.

The Significance of Combining AI and Blockchain?

Separately, the technologies seem incredible, but what exactly is the significance of combining the two?

Using AI to build blockchain

Automating work and management– One of the best features of using AI is the ability to automate work and cut down on time and effort. AI can help the blockchain industry by automating processes from the ground up. Be it the coding processes or overall organization and management, this tool can speed up processes and hasten the blockchain industry’s growth. Imagine if the process of creating and launching networks, NFTs, or smart contracts can be automated and done at the push of a button. 

Enhanced security– Another potential benefit of this combination is using AI to scour through networks and smart contracts for suspicious activities or weaknesses. There are already programs or processes that can do this, but what AI brings to the table is the ability to approach each case and learn from them. Its ability should improve with time and repetition, and this learning model can potentially outperform and outscale traditional approaches.

Using blockchain to build AI

Make data tamper-proof– The characteristics of blockchain technology and what it offers can greatly support the development and creation of AI projects. First and foremost, blockchain technology has an immutable nature that makes it so that the data involved in any AI project can be tamper-proof. For a technology so heavily reliant on the accumulation and transmission of data, this is invaluable for AI projects.

Increase trust and transparency– Blockchain can also help AI projects gain trust through its transparent nature. The concept of AI can be scary to some, but by advocating for transparency through integrating blockchain technology, this can be improved. By offering the ability to examine all the data involved, a foundation of trust can be built.

The Combination

Both of these technologies can be used as incredible tools to speed up the growth of the other. Currently, it isn’t so much about combining the two to create something completely different (Though this is still possible) but rather to add catalysts for one other that can lead to a wave of improvements.

Current Status

Currently, there are already many projects and networks looking into or already utilizing the combination of AI and Blockchain. We have ones like Fetch.ai, which establishes a platform utilizing blockchain technology to help build AI applications. We have ones like Cortex, which aims to revolutionize AI training through decentralized computing. There are even ones like Ocean Protocol, which revolves around tokenizing AI and data, adding a new spin to monetizing the technologies.

While there are plenty of projects revolving around merging these two technologies, there’s still a long way to go. The reality is that most of the development in combining the two technologies has come in the last few years. There are still a lot of rough edges that need to be smoothened, even some fundamental obstacles that have to be overcome.

The upside is that the potential is certainly there. With how AI and blockchain are developing into foundational tools for industries everywhere, it’s only natural for them to help one another.

Now, all we can do is wait and see how we can dive further into this potentially revolutionary coupling.

About ThunderCore

ThunderCore is an EVM-compatible blockchain featuring a breakthrough consensus protocol, PaLa, allowing lightning-fast efficiency. With users in more than 100 countries, this blockchain emphasizes a growing global reach. ThunderCore offers a native currency, TT, and nurtures an innovative ecosystem within the TT Wallet mobile app.

What’s Next?

ThunderCore is revving up and looking towards the future and what is yet to come. Watch out for what we have cooking and what the industry has in store for us all