CIO INSIGHTS
BLOCKCHAIN AND AI CONVERGENCE Tabis Asifi,Group IT Governance Lead of MAF Holding, Dubai, along with his colleague Farrukh Munir, Enterprise Senior Architect, MAF Holding, elaborates on Blockchain and AI Convergence in this expert opinion article Many enterprises have plenty of data but don’t know how to make it available to the world. Dormant value of data stalks everywhere. Conversely, many startups know how to turn data in to value using AI, but they’re starving for data. A few companies Google, Facebook, Baidu, Alibaba and the like, have both massive datasets and the AI knowledge to turn it into significant business value. These companies are not purely AI companies, rather they’ve used the combination of data and AI to become the most powerful companies in the world. We are in 2020 and our social order runs on data, yet much of it is controlled by a handful of companies with more power, resources, and reaches than most nations. How can we equalize access to data with strong privacy, and therefore opportunity to make the most of upcoming technology enablers like AI.
Tabish Asifi
Group IT Governance Lead, MAF Holding, Dubai, UAE
22 - CIO ONE | March /April 2020
This is where blockchain can provide complimentary value. Blockchain is a data structure that distributes trust across many nodes instead of one. One popular example of blockchain is Bitcoin. If “A” wants to send Bitcoin to “B”, then all the miners (nodes) in the bitcoin network are requested to validate that transaction. If the majority of the miners validate that transaction to be viable then the transaction is executed and added in the blockchain , which is essentially a shared ledger. These blocks in the shared
