Should we worry about the power of Artificial Intelligence (AI) and Blockchains?

Combining artificial intelligence (AI), blockchains, and other technologies can create new decision-making systems which are transparent, secure, and decentralized. Blockchain is a transparent, tamperproof ledger which can be used for recording and verifying the results of decisions.

This is how ProGini came to be. This engine wizard uses AI and Blockchain to create unique decision-making systems.

1. Decentralized Autonomous Organizations: DAOs, or decentralized autonomous organizations, are organizations run by code and a blockchain rather than by an authority. AI can be utilized to analyze data, make recommendations and record the DAO's decisions. Blockchain can also be used for this purpose. This will create a democratic and transparent decision-making process, which is not influenced or influenced by a single person or group.

2. Smart Contracts Smart contracts are contracts that execute themselves and are recorded in a blockchain. AI can be used for data analysis and to make decisions based upon the terms of a smart contract. A smart contract can be set up to automatically pay claims based upon data collected from IoT sensors. The decision is recorded on the blockchain.

3. Voting systems: Blockchain technology can be used to build secure, transparent and resistant to manipulation voting systems. AI can be used for the analysis of voting data to make predictions on the result. This will allow for a more accurate and efficient voting process, which is not affected by external factors.

4. Supply Chain Management: AI and blockchain can be combined to create a transparent, secure system for managing the supply chain. By analyzing data and providing recommendations, AI can optimize the supply by optimizing it. AI, for example, could be used as a tool to predict the demand for a product while blockchain can be used to track goods moving through the supply chain.

Combining AI and blockchain will create new decision-making processes that are transparent, efficient and secure. We are likely to see new applications in this field as these technologies continue their evolution and maturity.

Rick Hamadeh, Chairman of Blogger's Chamber of Commerce