It’s undeniable that Blockchain, big data, and AI are great technologies that are catalyzing the process of innovation and introducing major changes in every industry. Of course, every technology comes with a certain degree of technical complexity and business implications but these innovations have the capacity to redesign the entire technological paradigm from scratch. Let’s look at it in details.
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Artificial Intelligence, Blockchain, and Big Data Technologies
Artificial Intelligence came in three waves. The first wave was the knowledge engineering software. The second wave was comprised of the machine learning with great success in pattern recognition in complex data. This resulted in the Natural Language Processing (NLP), a technology established due to the need for machines to understand and communicate with human beings in human language. A new market research shows that NLP market size in 2016 was estimated to be $7.63 billion and it’s expected to hit $16.07 billion by 2021, at a Compound Annual Growth Rate of 16.1%.
The third wave is termed as a major disruptor with the potential to explore Big Data, extract statistical patterns and generate novel algorithms that can be used to explain why these patterns exist.
AI-based bots and machine learning applications are becoming popular to aid in client services in different sectors. For instance, after the realization of AI bots, financial institutions have incorporated the AI solutions to create an updated technical support and customer assistance systems. AI is a hot topic right now, and the situation is not about to change in the near future.
Blockchain, on the other hand, provides a tamper-proof digital option whenever parties have competing interests. Blockchain represents a social revolution. Its main advantage is the ability to maintain secure data and transactions. When people decide to carry out a transaction in a transparent and mutually accessible manner, intermediaries are reduced, audibility improves, and the final result is improved trust and efficiency.
Although the technology is mainly concerned with virtual payments, it’s a center for safe transaction and transmitting of data, money, royalty fees, records, and a lot more. We are in a phase of high interest and massive investment in advanced development of the Blockchain technology. Soon, we will see a massive growth and distribution of this innovative technology.
In the current times, we have to deal with large amounts of data, hence the need to collect, store, process, and transform it into valuable information. But how “Big” is Big Data? In 2016, the global datasphere was 16.1 zettabytes, according to IDC report. A recent prediction indicates that by 2025 the global datasphere is expected to grow to 163 zettabytes (about a trillion gigabytes). This can be shown in details from the figure below. This amount of data will provide a new way of interacting with users with a lot of business opportunities.
Fig 1. Tremendous data growth
Data storage is the essential component a vast majority of institutions, so there is increased demand for processing solutions in Big Data. Big Data analytics further allows replacement of manual work with an improved software system hastening the process and reducing the chances of minor errors. In addition to this, Big Data handling tools have proven to be useful for a large group of people. Before then, data had to be collated manually by people into checkboxes or reporting databases, but these tools have made it possible to automatically structure the information to increase the amount of data that can be analyzed at a go.
On the other hand, big data has led to the existence of other technologies such as natural language processing, machine learning, and artificial intelligence. These are termed as cognitive systems. These technologies have helped turn data analysis techniques from an unusual practice into to an exercise filled with strategic decision-making processes. IDC estimates that by 2025, the amount of global data subject to data analysis will record a growth by a factor of 50 to 5.2ZB. Data analyzed by cognitive systems is expected to grow by a factor of 100 to 1.4ZB in 2025.
In 2018, these trends are about to get bigger and it’s not too late to dive in and understand what they have in store.
GraphGrail Ai – Innovative Platform of the future in AI, Blockchain, Big Data, and other Technologies
GraphGrail Ai is the world’s first and most sort artificial platform for blockchain built as the center for natural processing technologies and decentralized applications. Its mission is to create a strong Artificial Intelligence (AI) that is open to the masses and improved by developers from across the world.
It includes all the latest advancement in technologies such as artificial intelligence, the blockchain, and Big Data processing. They also present an excellent layout service of the universal designer of own language applications, the ecosystem of data markup, laboratory of artificial intelligence, and the marketplace of ready-made applications in the modern world. The main focus is the banking sector, digital, retail, security, biotech, law enforcement, and medicine as well as small business.
A Recognized Center for Solving Technological Problems with Blockchain System
Small and large businesses spend a huge portion of the money to pay employees who perform a simple task that could be automated using AI. Most of them have little knowledge about the benefits of using AI for automation of business processes.
GraphGrail Ai creates a friendly infrastructure for analysis of text data including collection, cleaning, data marking with the help of a language domain model, and testing up networks for different businesses (See figure below). This is greatly boosted by the blockchain technology system where all stages of work accompanied by data are recorded. The system automatically calculates the hash rate from the processed data and stored in the blockchain for each task on the platform. All these activities are done inevitably based on rating systems, the scope of work done, just to mention a few.
Fig 2. GraphGrail Ai platform architecture
Thanks to the blockchain system, a decentralized marketplace for application is formed where tokens are issued for creation and improvement of language models. The technology is also created to enable fast development of Artificial Intelligence products thanks to data-savvy experts and a team of developers across the world. Integration of Blockchain in the platform will allow the community to access the system and use data for training an artificial neural network. The platform is the service provider for developers and anyone can earn from the sale of access to the API in this partnership.
Be Part of Blockchain and Tokens
The main reason for using blockchain and tokens is to benefit both the owner and the buyer. They act as the internal currency. With the token, a customer can access the system and make an order or receive a solution in form of software development of an application and mark up data for it.
Thanks to the procedure, users can monitor hashes to their blockchain and receive an appropriate reward for their work. The balance in demand and supply of Token on the platform is attained by setting flexible prices. The more complex the work on the markup of the data, the higher the reward given to the user on the platform.
To access the platform, a user or business needs to purchase 5,000 to 10,000 Tokens. This way, businesses will be able to use the Tokens to purchase internal platform services including collection, cleaning, data marking, testing a trained neural network. The more users in the system, the more orders will be placed in the application marketplace.
According to market research, GraphGrail Ai is estimated to reach at least 3% of the total NLP market share in the first year which is equivalent to $270 million out of the total $8 billion. So assuming the tokens circulation supply equals a maximum of 200 mln, to balance the tokens economy, the price of the token should be the average of NLP segment and token circulation supply (270/200 = $1.35). In case the company attains a small amount of market share, the token is expected to grow by a factor of 10 ( assuming one token is $0.1).
When participants learn to solve a platform using Artificial Intelligence, a neural network is recorded on the blockchain system and peers in other cities can access and use it. This will be available through a chat-bot that needs Tokens for users to access and record the request. The owner of the contract will receive a reward while the buyer will save time and profit from the deal. Without the blockchain system on the platform, it’s hard to accomplish these tasks.
For more information about the ICO visit https://en.graphgrail.com/