At our AI meetup last month, a small group of us started brainstorming the convergence of artificial intelligence and blockchain.
For a background the subject, this article, “Next Steps In The Integration Of Artificial Intelligence And The Blockchain,” does a nice job of explaining the current state of development and the challenges ahead.
One use case that I have been exploring conceptually is Personal Financial Management (PFM). Today, the bank either provides you an integrated service or you can use any one of the online services.
The challenge with PFM software, has been long term adoption and usage. Lets face it, looking at charts, alerts, category assignments and recommendations about spending and saving is just not that exciting.
This poses the question, is they are better way for people to have truly personalized financial management without the hassle?
The idea I was bantering around with the group, was how about using edgeai, similar to IOT, in the mobile wallets. The information it collects would be anonymized and shared with a decentralizedai, similar to a masternode in some blockchains.
As a single node within the decentralizedai ecosystem performed better on particular measures, by some threshold, than the consensus neural net, it would broadcast the update to all the other nodes in the network. This would require advances in unsupervised learning, but is a worthy thought experiment.
Simultaneously, the edgeai device would be completing similar work but balancing local with global optima. Perhaps, the edgeai is connecting to decentralized exchanges and trading tokens based on usage patterns, or moving money into and out of currencies or accounts.
For example, if you travel overseas, it immediately recognizes the local currency and finds that most efficient and lowest cost to convert from fiat to fiat or fiat to tokens to fiat, all based on personal spending habits.
Due to the early nature of the concept, there are gaps in this idea, and I encourage others to participate in developing it further or radically changing it. Conceptually I think we are on the cusp of truly personalized financial management that originates not from one organizations data about us, but from all of it.
What do you think? Is edgeai and decentralizedai even worthy of consideration at the current time?