AI is experiencing a surge in interest and adoption, with businesses and consumers using it on an unprecedented scale. While AI has the potential to realize medical breakthroughs, plug labor shortages and combat climate change, it also raises fears of a “Skynet” scenario. Blockchain technology is uniquely suited to provide the guardrails needed for a largely untested and powerful technology.
Like any breakthrough technology, this marked blockchain’s “peak of inflated expectations,” as outlined in Gartner’s Hype Cycle model, said Mrinal Manohar, CEO and co-founder at Casper Labs. While the ensuing period has seen a cooling of public enthusiasm, the technological principles that guided the initial wave of hype remain – and blockchain is realizing historically high adoption rates among businesses.
AI and blockchain are not orthogonal technologies; they’re actually complementary. A blockchain’s inherent strength lies in its ability to provide a transparent system for storing data and executing contracts, underpinned by a distributed network of computers that has no single point of failure. This is a critically-needed feature set as it relates to developing a more ethical and transparent brand of AI. Hybrid blockchains are one potential AI governance model, allowing an organization to utilize private infrastructure that they control while simultaneously accessing public infrastructure that is fully decentralized.
It’s become clear that AI, like blockchain, is here to stay, said Manohar. The individuals and organizations that will make an exponential impact on our future would be remiss to overlook the incredible potential that AI and blockchain offer for ushering in a more equitable and promising future.