In this era of big data, we need to move blockchains beyond data storage to create knowledge chains

Gurugram: Amity University Haryana organized its 12th Session of prestigious “Distinguished Global Indian Speaker Series (DGISS)” by felicitating today  Prof. (Dr) Raj Jain, Barbara J. Jerome R. Cox, Jr., Professor of Computer Science, Washington University in St. Louis, USA in the august presence of Hon’ble Chancellor Dr Aseem Chauhan, Vice Chancellors, Deans, senior scientists and Heads of Institutions of Amity Universities in India and campuses abroad.Expressing his delight at felicitating the illustrious Prof Raj Jain, Hon’ble Chancellor of AUH Dr Aseem Chauhan said, “This series recognizes and honors distinguished global Indian academicians who have reached exemplary heights in their field of expertise and have achieved excellence of the highest order in their profession. While their fame and accolades resonate across the world, they continue to have their roots firmly embedded in India”. Blockchain and AI are critical to our abilities to take well informed and smart decisions, added Dr Chauhan.

Prof Raj Jain delivered a highly informative and inspiring webinar on “Blockchain with AI for Risk Management" that was attended by over 1081 participants who registered for the webinar and several thousands more who watched it live as well.
Blockchain and AI being the technologies impacting a whole range of human endeavors and economic activities around the globe have a great role to play for the future of global knowledge society that is empowered by the power of mind and the power of connectivity.“In this age of uncertainty and the age of ever increasing speed of transactions, security of  data, integrity and reliability of information and our ability to transform large data into knowledge and provide a secured environment for work and business holds an important agenda today when the ‘World is one’ and so well connected”, said Vice Chancellor Prof PB Sharma while delivering his welcome address.  

In his keynote presentation Prof. (Dr) Raj Jain described in great detail about ‘Blockchains with Artificial Intelligence (AI) for Risk Management’. The whole idea of Blockchain Technology is to transform big data into knowledge and use AI to create Knowledge Chains to derive a deeper meaning of the data and information. Professor Jain also highlighted the importance of Blockchain technology in creating a highly secured decentralized system of work and business activity as against the centralized systems that we were accustomed to in the post industrialized era. Today in the post Covid digital era, decentralization has become more evident than ever before. The key to smart decisions lies in effective integration of AI with Blockchain technology.

“Blockchains has found numerous applications in Fintech, Supply chains, and contracts because it is an ideal distributed consensus where all nodes agree on the validity of transactions in a block without needing a centrally trusted party. The consensus is binary - agree or disagree - True or False. In this era of big data, we need to move blockchains beyond data storage to provide knowledge. In the real world, there are many situations in which various participants may not fully agree, and their opinions may be probabilistic, leading to probabilistic agreements,” added Prof Jain. 

The webinar was organized by Dr Gunjan M Sanjeev, Vice President of RBEF and Director, International Affairs at AUH and was coordinated by Ms Shaivy Sharma for which excellent IT support was provided by Dr JS Sodhi and his team.
Several senior officials actively participated in the discussion – Dr Vikas Madhukar, Deputy Pro Vice Chancellor, Dr Rajendra Prasad, Director- AIB, Maj Gen P K Sharma (Retd.), Director- ALS, Prof U N Singh, Dr Manish Verma, Director - ASCO, Dr Ila Joshi Gupta, Director – ASAP, Dr AK Yadav, Director-ASAS, Dr Atul Thakur, Dr Arvind Chabra. The session emerged as a great platform where all participants came forward enthusiastically to express their thoughts with the esteemed speaker.