A couple of weeks ago I wrote about how AI and blockchain technology are coming together to form radically new and mind-blowingly cool solutions straight from the future for your consumption today.
iOlite (https://iolite.io) is doing just that. They are combining AI (machine learning), and a community of AI experts, legal experts, Solidity experts, insurance experts, C# experts … you name it, who keep adding knowledge to the AI, with the blockchain to create two things:
- A machine learning platform that will create the code you or your business need
- A community of skilled developers that enhance and improve the platform using blockchain technology
This introductory video of theirs doesn’t quite emphasise the wide-reaching impact their platform and community will have in my opinion. It is, however, a great high-level introduction.
iOlite’s initial focus on generating code in Solidity (the programming language for smart contracts on the Etherium blockchain network) is great, but I think they are onto something much, much bigger.
With this initial focus they are solving key problems already:
- Lack of skilled programmers for smart contracts
- Slower than possible adoption of smart contract blockchain technology
Imagine Your Mother Trying to Develop Software
If your mom is anything like mine, developing software is not going to happen. Specifically developing smart contracts to automate aspects of her life on the Ethereum network even less so.
iOlite’s approach literally lets her create such applications by taking her natural language input and generating and deploying the code she needs for free.
If she finds the application she needs already present in iOlite’s network things get even easier, as she can simply use the existing solution and pay with iOlite tokens for that. While this has cost attached to it, it ensures that her code is actually already tested in production and likely even more advanced and powerful than what she might have created herself.
A worst-case scenario is that the machine learning system is not yet capable of what she wants to create and this is where iOlite’s genius kicks in.
The group of experts and developers in iOlite’s community can come to the rescue by enhancing the system’s capability to now also cover my mom’s specific needs. These developers don’t work for free either, as they get compensated with iOlite tokens which will be exchangeable to their own currency or other cryptocurrencies.
The iOlite community is rapidly growing so it is no question of her having to find and hire such experts herself.
What Implications does this have for Businesses?
I have clients in eCommerce who often lament their ability to easily hire developers to create software quickly and cheaply enough. This is even truer when it comes to adopting smart contract technology and blockchain.
The fact iOlite solves the lack of skills in the marketplace with AI is groundbreaking!
And while one might argue that AI systems writing code is taking jobs away from programmers … these were programmers who were unlikely to be available or exist in the first place, plus the fact that the community supports the AI’s future capability development means that work (i.e. jobs) is created at the “back end” of the system – namely in the attached developer community.
What is the Future Beyond Smart Contracts?
Of course, the machine learning approach is impartial to what language the code it generates is written in. It is very easy to imagine code being generated in other languages than Solidity.
Also, such code (for example generated PHP code) could easily run on any businesses own production environment with the added benefit of an immutable codebase being archived on the iOlite blockchain for future reference and use (this basically also includes a full version history).
All in all, this is an incredibly promising approach with development and milestones of release and market introduction happening as we speak.
What Can You Do Now?
As a business, stay tuned as I will be publishing more details for new and potential users of the system soon.
As an AI expert/developer or blockchain expert/developer you can already join the iOlite community on Telegram @ https://t.me/iOlite