12 things blockchain protocols should consider when exploring AI

Blockchain protocols cannot (and should not) ignore the potential of AI, but implementing it is important with caution and care.

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Across all industries, it seems like everyone is talking about artificial intelligence. Even companies that aren't on the cutting edge of technology are scrambling to figure out how AI works and what it could do for them. Given the predicted impact of AI, it's no surprise that blockchain protocols - part of a decidedly cutting-edge industry - are exploring the role(s) that AI 'IA could play for them.

From analyzing data to improving scalability to promoting interoperability, AI could prove to be a powerful tool in the arsenal of blockchain protocols. Nevertheless, it is essential to carefully consider not only all the potential benefits, but also the possible complications. Below, 12 members of the Cointelegraph Innovation Circle discuss some of the things blockchain protocols should consider when starting to explore AI.

Maintaining confidentiality and data security

Because AI relies on large amounts of data for training and decision making, protocols must prioritize strong encryption, anonymization techniques, and secure data handling practices . Additionally, implementing privacy-enhancing technologies, such as federated learning or differential privacy, can mitigate the risk of exposure of sensitive information. – RJ Phillips, Zoop

The team behind an AI product

Carefully consider the team behind each product. While many AI builders promise huge results, you should always be sure to research their historical performance to determine if their projected results are actually realistic. Overall, Protocols should look for companies with a consistent track record of delivering quality products on time and within budget. –