How important is AI in Blockchain Technology?

AI is the simulation of human intelligence in machines that are made to think and act like humans. It involves creating algorithms and computer programs that can execute tasks that usually require human cognition, including visual perception, speech recognition, decision-making, and language translation. Different forms of AI exist, such as machine learning, natural language processing, and computer vision.
With major business implications at a phenomenal rate, both AI and blockchain have a promising future and are here to stay. However, when compared, both AI and blockchain have their own differences and complexities. One of the major issues with blockchain is security, while AI poses the issues of trustworthiness. Taking these issues and more, such as privacy, efficiency, and scalability into consideration, these two technologies can fill the gaps they both individually have.
There are several potential use cases for combining blockchain and AI. Some of them are:
Predictive Maintenance: AI can be used to analyze sensor data from industrial equipment to predict when maintenance is needed, and blockchain technology can be used to securely store and share this data between different parties.
Intelligent Supply Chain Management: AI can be used to optimize supply chain processes and make predictions about future demand, while blockchain technology can be used to create a transparent and secure record of all transactions in the supply chain.
Decentralized Autonomous Organizations (DAOs): AI can be used to make decisions on behalf of a DAO, and blockchain technology can be used to create a transparent and secure record of all actions taken by the DAO.
Secure data sharing: AI models are trained on large amounts of data, and blockchain can provide a secure and transparent way to share and access this data between different parties while maintaining data privacy and security.
Identity verification and authentication: AI can be used for face recognition and biometrics, and blockchain can provide a secure and transparent way to store and manage this identity verification data.
Predictive finance: AI can be used to analyze financial data, and make predictions about future market trends, while blockchain can provide a secure and transparent way to record and execute financial transactions.