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Blockchain and AI: Leading the Way to the Fourth Industrial Revolution Against the Odds

Human imagination and the strive to turn science fiction into science fact goes back to ancient times, but has only truly begun to manifest itself in the last 50 years.

Just as AI found its applications in the fintech sector as a data aggregator and automated solution determiner, so began blockchain in its permeation into areas of application where its properties can be of most use.

But unlike the first three, which were based on the application of machinery for streamlining of the means of mass production through digital information accessibility, the new wave of technological progress promises to be a revolution of automation, rather than an involvement of masses of people needed for maintaining industrial processes.

AI and blockchain may become the leaders of the Fourth Industrial Revolution, as they can allow artificial constructs and programs to perform a vast number of tasks that had previously required human labor and entailed high risks of error.

According to a study carried out by researchers from PwC in 2018, 30 percent of jobs may become automated by the 2030s, with 44 percent of workers with a low level of education being at particular risk.

By being able to continuously analyze data under a strict protocol required for achieving desired results, AI leads the way by allowing data to be properly stratified and shared.

Take, for example, the recent scandal engulfing Facebook, when personal data from over 50 million social network users were harvested by Cambridge Analytica via an algorithm that targeted voters during the U.S. election.

Paul Lee, co-founder and CEO of Mind AI, an AI-powered platform, believes that blockchain plays an essential role in the process of making data management decentralized: “We don’t see AI and blockchain as two separate, incompatible technologies, but rather as two technologies that can complement each other very nicely.

And although the use of AI to collect personal information has become the most common way to use this technology, blockchain can help change the reputation of AI by storing the AI ​​mechanisms that process data on a distributed registry.

On Feb. 11, the Trump administration announced that the president signed an executive order that calls upon federal government agencies to allocate the necessary resources and workers to adapt to the era of AI.

Today, industry leaders are solving the nontrivial task of combining two technologies in order to preserve the privacy of user data and achieve greater automation in complex analytical processes.

At the same time, DeepSee reportedly uses the same machine learning mechanisms used by Facebook, but transfers them to a trusted blockchain platform that guarantees transparency of privacy settings, as well as rewarding users for high-quality content in a similar way to Steemit.

Longenesis, in turn, intends to provide individuals with control over their own personal data and the option to monetize it by passing certain data to corporations, research institutes and medical institutions at their discretion.

He also shared with Cointelegraph the challenges that may be faced when developing and managing such complex platforms: “One of the main challenges with designing such a system is adapting to the constantly and quickly changing technologies in the blockchain space.

SingularityNet rewards users with tokens every time someone uses its proposed AI model, thus allowing anyone to monetize AI algorithms, and letting companies and developers buy and sell AI at scale.In an interview with Cointelegraph, Ben Goertzel, CEO of SingularityNet and chairman of the Artificial General Intelligence Society, explained how both technologies can be used to socialize the AI industry: “If you had a global decentralized network and you can put your AI there and anyone can access it and then use it in a way that connects it with other AI tools that are out there, that can provide a way for people to monetize what they’ve done, without having to go the currently standard route of creating a startup and selling the startup to Google or Amazon or something.”

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