Remember when blockchain tried to save the world a few years ago? Now it’s artificial intelligence’s turn to save the world. But blockchain is coming back into vogue as a technology that could save AI.
Blockchain is finally breaking free from cryptocurrencies, and many see its potential as a foundation for supporting and validating another emerging technology: AI. According to the authors of a new report, blockchain and other distributed ledger technologies can address AI’s black box problem by “providing a transparent, immutable ledger to monitor model training and track decision-making processes.” It is said that it may even be useful in solving problems. “This improves the security and reliability of AI systems by allowing organizations to audit the data and algorithms being used.”
And if AI is the future of business, should CIOs take the lead?
of investigation A survey of 608 global IT decision makers published by Casper Labs found that there is a growing awareness of blockchain’s ability to bring transparency to AI systems. In a similar survey a year ago, more than half of business leaders equated blockchain with cryptocurrencies, but 84% now say they have a broader understanding of blockchain. Three out of four said they were “positive and interested” in implementing blockchain to support their business, and AI.
Clearly, 71% of executives now view blockchain and AI as “complementary technologies.” More than half, 51%, are pursuing blockchain to enable their employees and partners to work more efficiently with AI. Database automation, which aligns more closely with the original mission of managing data flows, ranks him second at 44%.
These were identified as the top use cases for blockchain.
- Use AI to work more efficiently, 51%
- Database automation, 44%
- Ensuring security, compliance, or regulatory reporting, 41%
- Supply chain management/optimization, 38%
- Managing copy protection, 36%
“By leveraging blockchain’s transparent and secure ledger and AI’s data-driven insights and automation capabilities, enterprises can increase efficiency, reduce operational costs, and strengthen trust,” the research report says. says the author. AI is currently the most popular application of blockchain among enterprises. At least 70% associate blockchain with improved data manipulation or increased transparency of datasets.
Blockchain is particularly beginning to be recognized as an important tool to solve the black box problem of AI and drive more responsible AI innovation. Nearly 50% of executives say they are more likely to adopt blockchain if it makes AI systems more trustworthy and trustworthy. “Ensuring the reliability and trustworthiness of AI tools is a top priority for enterprises, and blockchain is a turnkey solution to address the risks associated with AI implementation,” Casper researchers said. There is.
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Almost half (48%) of executives agree that establishing robust data privacy and security protocols is the most important measure to strengthen AI and blockchain integration, coming in a close second These include transparency and auditable AI algorithms to ensure accountability and prevent bias.
“As AI operations become mainstream and people raise concerns about this technology, leaders are recognizing the need for more responsible AI that prioritizes data security and transparency,” study authors said. points out. “Ensuring the reliability and trustworthiness of AI tools is a top priority for enterprises, and blockchain is a turnkey solution to address the risks associated with AI implementation.”
Executives are gaining a deeper understanding of blockchain. 77% say they fully understand blockchain and can explain its value to their team, an increase of 5 points from last year’s survey. In last year’s survey conducted in December 2022, more than half of respondents considered “blockchain” and “cryptocurrency” to be interchangeable terms.
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The main barriers to widespread adoption of blockchain include a lack of developers with sufficient knowledge of blockchain technology (35% said) and regulatory barriers to adoption of blockchain technology (28%). Masu.
Enhanced accountability features (46%) and industry-wide standards (45%) are the top factors giving business leaders confidence in using blockchain. In addition, blockchain solutions Web assembly (WASM) standards to make the technology more open, accessible, and usable for developers who are not necessarily blockchain-specific.