Over the past 2–3 centuries, the world has seen staggering change, starting with the industrial revolution that saw the transition to machines, the advent of chemical manufacturing, the invention of the steam engine, and the development of machine tools and mechanized factory systems.
Soon after, we saw the invention of flight, changing how the world traveled. In our lifetime, we have seen the transformative effect the internet has had on humanity. Now, we are witnessing the rise of not one but two world-changing technologies, blockchain technology and artificial intelligence (AI).
Companies and institutions are only just realizing the potential of these technologies and have begun deploying them, resulting in the complete transformation of industries. At AIWORK, we firmly believe in the transformative capabilities of blockchain and AI. We are utilizing them in tandem to address the issue of inconsistent and incorrect metadata in the online video ecosystem.
Understanding Blockchain And AI
First, allow us to explain the basics behind blockchain and AI. A blockchain refers to a database or distributed ledger shared between nodes (computers) on a network. They are primarily known for their role when it comes to cryptocurrencies such as Bitcoin and Ethereum, enabling them to maintain a decentralized and secure record of transactions that have taken place on the network. Blockchain also ensures complete transparency, as all recorded transactions can be verified, ensuring that the data can be trusted without the involvement of any third party.
Unlike traditional centralized databases, which are managed by a single entity, blockchains are decentralized databases, with the data spread across multiple nodes on the network. Each computer holds an identical copy of the decentralized ledger, meaning any change to the data would require all the data on all nodes to be changed simultaneously. This feature essentially makes the blockchain tamper-proof.
On the other hand, AI refers to machines capable of mimicking human intelligence thanks to complex algorithms that have been programmed into the algorithm. These machines are capable of thinking like humans, mimicking their actions, learning problem solving, rationalizing, and taking actions that have the best chance of achieving a specific outcome. AI can also learn from the data it provides, getting smarter as it processes more data.
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AI, Blockchain, And The Future Of The World
Blockchain technology and AI are often credited with ushering in the fourth industrial revolution, with their implementation revolutionizing industries such as healthcare, finance, supply chain, and logistics. In the healthcare industry, blockchain and AI have enabled the secure storage of patient data. Healthcare professionals can access this data and study insights from the data thanks to patterns generated by AI that analyzes the patient data. Applying blockchain and AI helped the healthcare industry navigate the minefield that was the Covid-19 pandemic.
Blockchain and AI have also wholly reinvented the financial industry, making transactions significantly faster and more secure by enabling trust between the participating parties. Eliminating third parties in these transactions also ensures that transactions are cheaper. Meanwhile, using AI reduces the dependency on humans, further increasing efficiency. The same can be said of the supply chain and logistics industry, where blockchain technology and AI are traditionally transforming the industry by digitizing paper-based processes, making them far more streamlined and effective.
In the future, the integration of blockchain technology and AI could transform a host of industries. They could have wide-ranging applications in finance, smart cities, autonomous vehicles, manufacturing, agriculture, etc.
How AIWORK Is Bringing Blockchain And AI To Asia
In July, we announced a partnership with video content management and player platform IVS, bringing our blockchain-powered AI technology to IVS’s over 120 million users in South East Asia (SEA) on the latter’s premium publisher network. At AIWORK, we are bringing blockchain technology and AI together to create a revolutionary and powerful new platform. The collaboration with IVS will enable us to showcase our minimum viable product (MVP) to users on the IVS network.
South East Asia has an extensive user base of internet users, and IVS alone reaches a significant chunk of that population through its network. With a reach of over 120 million users and over 1.5 billion monthly page use, IVS was the perfect choice to bring AIWORK’s technology to Asia and the world.
Thanks to the partnership with IVS, we launched several advertising campaigns on the IVS network. IVS’ publisher network comprises some of the most prominent media companies in the South East Asia region, including Kompas, MNC, Kapanlagi, and others. The partnership allowed us to release our ads on IVS channels and also allowed us to be featured on prominent media company websites. As a result, AIWORK was featured prominently on the front page of CNN Indonesia as a pre-roll ad and displayed along with several stories on the website.
Our ad was featured on prominent websites such as Kompas and Hipwee, featuring as a companion banner ad on both.
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Our campaign on the IVS Network was a resounding success, allowing AIWORK to generate 10,71,429 impressions in total, out of which 50,743 were converted into clicks and navigated to the AIWORK website. 7,29,496 viewers viewed the ads in their entirety, and after running for a week, the campaign achieved a total reach of 7,54,039.
In Closing: The Future
The potential of AI and blockchain technology is limitless, and what we are seeing right now is but a fraction of their potential when used together. Both technologies hold power to transform industries, which we are already witnessing in fields such as healthcare, supply chain, finance, and several other industries.
In the case of AIWORK, we are utilizing blockchain technology, AI, and human experts to generate high-quality and consistent metadata and address the issues faced by the online video space through both technologies.
AIWORK is a decentralized and open-source blockchain protocol and ecosystem. The protocol is built on a network of AI computing resources and a community of human experts, which generate normalized and enhanced data for video content. Human experts can help create, verify and validate AI datasets, helping improve AI efficiency.
Credit : Medium