Screen Shot 2017-07-01 at 8.00.08 PM.pngAbstract – Blockchain is a mystery story or provides the foundation for cryptocurrencies like Bitcoin. What’s different about blockchains compared to traditional big-data distributed databases like MongoDB. Its like featuring a product that contains small blocks of brain in form of dust but consider that the innovation efforts of several publicly traded asset managers and banks are also on this brain block dust quest.  Computers start simulating the brain’s sensation, action, interaction, perception and cognition abilities.  Disclaimer – all credits if remains on the original  contributor only.

Introduction – How Future Technologies affect our life’s, How many jobs will be taken by robots and how much will left for humans; difficult to predict today. At the same time software development/ coding jobs will be less and less thats for sure with machine learning concept and its not very far may be just another decade and all software development jobs are gone. Blockchain is the answer to million dollar question i.e a super sonic and ultra transparent way to maintain the financial transaction register among ourselves instead of someone else doing it for us. Now, that is something worth of your time to explore.

Main Story – Artificial intelligence and blockchains are the 2 closed components of digital business. While Blockchains can help us verify, execute and record. AI helps in decision making, assessment, understanding and recognizing. While the machine learning methods that are a part of AI help us find opportunity and improve decision making, smart contracts and blockchains can automate verification of the transactional parts of the process. Connected industries require new innovative solutions as in new technology scenarios human errors replaced by technical failure.  Google search looks like a fair deal to the consumer because it is an amazing free product but wait is it really free may be not.

BCAIBlockchains might get use to work with digital human mind-files. Formulating human mind thought process and on-going thinking process to machine readable digital files and uploading and saving them on physical machine’s storage devices. Blockchain will also help their current prototypes, digital identities like Linkedin, Twitter or even facebook etc. Through their asset management, property registration, and access control features it will become usable, sellable and marketable. Blockchain thinking is as an input-processing-output computational system.

Blockchains are much more than the already extraordinary scope of potential activity that has been envisioned for their deployment in reinventing currency, finance, economics, government, legal services, science, and health – blockchains are a basic substrate for computing itself. I guess calling bitcoin as bubble out of  blockchain would not be wrong. Blockchain thinking can also be compared with human brain power of storing our memories on a decentralized storage disk.

Embrace digitalization and customer centricity will give super sonic experience. As a concept thinking blockchain as a thinking process which can help in formulating human thinking as a blockchain process to make machine learning process stronger. This can also help to firm up deep learning process after potential integration in turns this could have benefits for both artificial intelligence and human enhancements.

Looking into past through crystal ball on how people use to see future from their time, i.e todays time they must have seen Money in todays time as less and less Physical but more and more of  Electronic Tokens or Commodities that can have the properties like unit AI-BC.pngof account a defined value, Medium of exchange a acceptability, Store of Value a non-perishable safe from physical threats. In a simple term today e-money is an item which can be defined as sending and receiving numbers to and from email/internet addresses. Blended or overlapping memories could be stored as separate discrete units. Now adding Blockchain concept here will simply give freedom and welcome you to fork the chain and implement your own rules if you don’t like one of the changes, you are more than. Is given to the people, not to the bank or companies.

The best example is Bitcoin which in simple term is the money which (supply) cannot be manipulated and is fixed at 21 million coins, each divisible up to 8 decimal.

Blockchains could be employed as a secure large-scale data management mechanism to coordinate the information of millions and billions of individuals. I remember my visit to Hong Kong in 2009, just 12 year after the biggest financial crises known as 1997 ghost  when the Thai baht lost its peg with the dollar. I heard stories  of some of the victims, including a high-flying stockbroker who was reduced to selling sandwiches, and a businesswoman whose boss told her to “take care of the work for him” before hanging himself. Now  where necessary, they try to neutralise heavy capital inflows with offsetting flows the other way, including central-bank purchases of foreign-exchange reserves.

Artificial general intelligence (AGI) a subset of AI  can be more relevant here as AGI can be modeled as a feedback control system. If we try to simulate the entire episode with AI Blockchain today then solution and speed of solutions would have been beyond excellent mark. AGI is about autonomous agents interacting in an environment. Asia did not see the 1997 crisis coming precisely because it thought it had learned the lessons from earlier crises though if ASI (super intelligence) was available then; that could have been avoided. Asian countries had high national saving rates, limited public debt and budget surpluses which brings us to AI.

AGI’s Control systems have many great qualities. First, they have strong mathematical foundations going back to the couple of decades. Aspirations, linked to opportunity, can breed dynamism and inclusive, sustainable economic growth. That’s something we all want to see. Meanwhile, tech giants like Apple, Google and Intel are investing billions of dollars in using machine learning AI’s to build out their next big projects.

As on date all of us are involved in projects that involve blockchain technology implementation or related activities knowingly or unknowingly. Blockchain for Artificial Intelligence is like a global or planetary database in which AI and neuroscience have been moving towards a modular managed approach with memory to  unlocks opportunities by Data sharing and better data model. Creating audit trail on data and model for more trustworthy predictions and shared as global registry. AI DAO-  that can accumulate wealth that you cant turn off.

Chatbots harness software that uses artificial intelligence to process language from interaction with humans in chat programs and virtual assistants. The concept of chat bots are coming up very fast but its limited to smart devices holders. They capture the interaction with the world (actuating and sensing), and adapting (updating state based on internal model and external sensors).

Sign-tConclusion –Todays everyone in the said industry are looking for answers for How Artificial Intelligence Will Revolutionize Banking as we all know Artificial Intelligence is about probabilistic, constantly changing and its a algorithm to guess at reality and blockchain is deterministic, sort of permanent and its algorithm & cryptography to record reality. AI has taken some steps into banking, but it also is poised to revolutionize how banks learn from and interact with customers. Looking into future through the crystal ball, I tried describing how blockchain technology can help AI, by drawing on my personal experiences in both. As development trend for the operation support system, convergent billing, money storage as digital numbers i.e bits and bytes has broad scope that is not limited by a single standard. Artificial Intelligence (Cognitive Computing) will play a bigger role.

#MachineLearning #DeepLearning #ArtificialIntelligence #ML #DL #Tech #ArtificialNeuralNetworks #ANN #payments

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Posted by V Sharma

Specialised in Financial Technology(FinTech), Artificial Intelligence for Fintech. Mobile Financial Services (Cross Border Remittances, Mobile Money, Mobile Banking, Mobile Payments), Data Science, IT Service Management, Machine Learning, Neural Networks and Deep Learning techniques in FinTech. Mobile Data and Billing & Prepaid Charging Services (IN, OCS & CVBS) with over 15 years experience. Led start ups & new business units successfully at local and international levels with Hands-on Engineering & Business Strategy.

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