Alla Petriaieva's Avatar
Alla Petriaieva
published in Blogs
Mar 02, 2021
How to Combine AI and Blockchain

How to Combine AI and Blockchain

Artificial intelligence and blockchain have had a banner year. New, successful use cases abound in a variety of industries, with investors seeking out new opportunities for both technologies amidst growing mainstream recognition. Ian Foley, a serial entrepreneur and partner at SaaS-focused Xenon Ventures, sees massive potential in not only AI and blockchain’s individual functions, but their ability to work for each other’s benefit.

In an interview with James Bourne, editor-in-chief of TechForge Media, Foley calls AI and blockchain “the next evolution around enterprise software.” That evolution comes in part from their complementary characteristics. Foley sees blockchain’s immutable ledger as a solution for AI’s current transparency problem.

Currently, businesses can set parameters for AI to perform a specific function (like approve someone for a loan); the AI will crunch data and spit out a result. But how and why, exactly, that result was achieved is often obscured, leaving it open to questions of bias, impropriety, and more. Foley believes blockchain’s “clear audit trail” can pull back the curtain on AI decision-making. Because blockchain logs every step of a process without the ability for alteration, it can make the so-called “explainability problem” (in Foley’s words) more explainable.

Additionally, blockchain offers a way to clean up redundancies in a data set. “The advantage of blockchain is that if people have their own unique identity, you’re going to have a far cleaner data set than the mismatch where people would now…infer, or have to use a workaround to understand, what [specific data represents],” explains Foley.

Whether the two technologies can work together is a moot point if there are no actionable use cases with tangible benefits to sell a product to businesses. In Foley’s experience, vertically-based AI provides an answer. As leader of AI-powered customer acquisition platform acuteIQ, he learned to take “a very large data set of 21 million US small businesses with over 500 million data points” and leverage it to create insights in a specific space – banking. Banks could reach out directly to small businesses and, using AI-parsed data, offer services specific to each use case. Findings and information from further experiences were reintegrated into the database to derive additional insight as “the systems learned from each other.”

That feedback loop “[taught] our database how to be better,” says Foley. “By making the product vertically relevant, it helped tremendously to quickly achieve product-market fit…it’s a combination of vertically-based product with vertically-based AI that proves to be a winning combination.”

Banking is hardly the only field that could benefit from vertically-based AI – any business possessing reams of customer data has the potential to “identify and mine a connection” and derive real value. “If you can reduce costs by 20 percent, [and] you don’t need to make significant changes with existing technology, [and] you have five other customers that have done it beforehand, and you can get them to buy without saying, ‘Actually we’re using AI, or blockchain’, I think that is the ultimate marker,” says Foley. With AI and blockchain complementing each other, that marker is closer than ever.

 

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Sergey Savastiouk's Avatar
Sergey Savastiouk
published in Blogs
Mar 07, 2021
4 Tricks Hedge Funds Use to Get Ahead

4 Tricks Hedge Funds Use to Get Ahead

If the stock market were Major League Baseball, hedge funds and institutional investors would be the pros on championship teams while everyday self-directed investors (SDIs) are the benchwarmers in the minors.It’s how they get ahead, and it’s why 90% of SDIs lose money trying to play (invest and trade) in the major leagues. The 4 tricks we discuss below are rooted in one common theme: they all use Artificial Intelligence and algorithms to generate data and ideas.
John Jacques's Avatar
John Jacques
published in Blogs
Mar 22, 2018
A.I. Stock Market Predictions: Head & Shoulders

A.I. Stock Market Predictions: Head & Shoulders

Statistics for the Head-and-Shoulders Bottom Pattern The days where only hedge funds used algorithms to trade stocks are officially over. Now retail investors can use Artificial Intelligence (A.I.  Here’s an example of the algorithm in action: Late last year, Tickeron’s A.I.
Sergey Savastiouk's Avatar
Sergey Savastiouk
published in Blogs
Jul 10, 2020
3 Stocks to Buy if Coronavirus Second Wave Hits

3 Stocks to Buy if Coronavirus Second Wave Hits

By analyzing market trends from the first wave, you can predict behavior for the second. Technology stocks have performed at historic levels this year, but the market is severely overbought.To compensate for that, look at performance during Q1 and Q2, the height of global Covid shutdowns.
Edward Flores's Avatar
Edward Flores
published in Blogs
Feb 06, 2021
How to Become the Millionaire Next Door

How to Become the Millionaire Next Door

The Golden Gate Bridge is always a fixture of these walks too, one of man's most beautiful creations.  As we were walking, at one point she turned to me and said, "Man, I'll never have a million dollars."" My girlfriend is 27 years old and works as a graphic designer, making about $75,000 a year.
Alla Petriaieva's Avatar
Alla Petriaieva
published in Blogs
Feb 23, 2021
Is Ethereum’s Bomb about to Explode?

Is Ethereum’s Bomb about to Explode?

Ethereum’s software is set for an update in October.Until it is finished, participants in the Ethereum blockchain must determine how to delay the difficulty bomb – code that necessitates a steadily increasing amount of computer power to mine blocks and unlock rewards – that is already in place.
Sergey Savastiouk's Avatar
Sergey Savastiouk
published in Blogs
Aug 07, 2018
When Is the Next Recession Coming?

When Is the Next Recession Coming?

However, we also know that economists predicted 22 recessions out of 11 that took place since 1945. Are there real recession signs we should watch for?Indeed, the answer is yes, and here are a few very important ones: The first one is almost obvious and known to everyone – it is the Fed.
Abhoy Sarkar's Avatar
Abhoy Sarkar
published in Blogs
May 22, 2020
Central banks have been buying $2.4 billion in assets every hour for the past two months

Central banks have been buying $2.4 billion in assets every hour for the past two months

Some $17.8 billion has been poured into  bond markets over the past week, the biggest move in more than three months.Around $3.5 billion has been invested into gold, the second largest on record. 
Rick Pendergraft's Avatar
Rick Pendergraft
published in Blogs
Feb 07, 2021
Mid-January Short Interest Report Shows 8 Stocks with Good Fundamentals and High Short Interest
Sergey Savastiouk's Avatar
Sergey Savastiouk
published in Blogs
Mar 10, 2021
How to Start Trading Penny Stocks

How to Start Trading Penny Stocks

Penny stocks have long been marginalized within the professional investment community, oftentimes being painted with a broad brush of simply being “too risky.” Leonardo DiCaprio’s depiction of the penny stock peddling conman, Jordan Belfort, in the Wolf of Wall Street certainly didn’t help.Here are four reasons to start trading them now. Reason #1: Let’s State the Obvious -- Penny Stocks are Cheap A single share of Apple Inc. costs over $350.
Abhoy Sarkar's Avatar
Abhoy Sarkar
published in Blogs
May 08, 2020
US unemployment rate jumps to 14.7%, the highest in series history

US unemployment rate jumps to 14.7%, the highest in series history

The U.S. economy’s employment fell by -20.5 million in April. The coronavirus crisis led to unemployment rate soaring to 14.7% in the U.S, the highest rate in the Bureau of Labor Statistics-tracked series history that goes back to 1948. However, the figures were better compared to several economists'/analysts' forecasts of 22 million job losses and 16% unemployment rate.  Another unemployment measure that includes those who have stopped looking for work as well as those holding part-time jobs for economic reasons also touched an all-time high of 22.8%.