ADDRESSING BLOCKCHAIN AND ML LIMITATIONS
Although the blockchain can do some amazing things, there are still limitations to this relatively new technology. A Medium article on these limitations listed some of the blockchain’s limitations. These included significant energy consumption during the mining process, scalability problems, and some security vulnerabilities. Other problems include privacy, efficiency, hardware, and a lack of talent that understands the real power of this technology. Enter AI. Integrating machine learning to the blockchain can efficiently power the blockchain in a cost-effective way. Plus, it adds virtual talent to improve on what this technology can do.
Also, blockchain can help ML progress. As the article stated, the blockchain can help ML explain itself. “The ML black-box suffers from an explainability problem. Having a clear audit trail can not only improve the trustworthiness of the data as well as of the models but also provide a clear route to trace back the machine decision process.” Additionally, the blockchain has already proven it can add efficiency and speed to transactions. Therefore, it can do the same for AI, propelling it to learn at a faster rate. The blockchain’s model offers a good benchmark for organizing information in a more efficient way.
The combination of blockchain technology and machine learning is still a largely undiscovered area. Even though the convergence of the two technologies has received its fair share of scholarly attention, projects devoted to this groundbreaking combination are still scarce.
When people with access to the highest quality information concerning ML, like Elon Musk, are saying that ML could be the biggest existential threat in existence, giving this power to one single entity isn’t the best idea. Decentralizing ML and letting it be designed and controlled by a large network through open-source programming is probably the safest approach to create super intelligence.
Putting the two technologies together has the potential to use data in ways never before thought possible. Data is the key ingredient for the development and enhancement of ML algorithms, and blockchain secures this data, allows us to audit all intermediary steps ML takes to draw conclusions from the data and allows individuals to monetize their produced data.
The ML can be incredibly revolutionary, but it must be designed with utmost precautions—blockchain can greatly assist in this. How the interplay between the two technologies will progress is anyone’s guess. However, its potential for true disruption is clearly there and rapidly developing.
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