AI and Blockchain are the monitoring technologies to guide the next wave of digital transformation. The convergence of these two technologies will allow the development of new business models. Both of them provide security, reliability, and transparency to the whole system and maximize business growth.
How Blockchain Brings Revolution in Business World?
Blockchain stores data in the form of blocks and increases the transparency, security of business models through shared and decentralized ledger distribution. A blockchain network can be private or public to store digital currency or assets.
Blockchain Emerging Technologies
Ethereum to Develop Distributed Applications
Ethereum is an open-source blockchain platform that enables the development of smart contracts and distributed applications without any fraud and a third-party interception. It is not only a platform but also a programming language rushing on blockchain and helps blockchain developers to create, broadcast distributed applications. Besides it, Ethereum is the second-largest cryptocurrency after Bitcoin.
Binance Chain, A way to Exchange Digital assets
Binance Chain ensures the creation of blockchain as an alternative market to issue, use and exchange digital assets in distributed manners. Dex is a great example of Binance chain implementation to grow with freedom of money. Using Dex, an individual does not need to provide his personal information to hold crypto funds and dive into the trading network.
Fabric Hyperledger Helps to Build Reliable Architectures
Fabric Hyperledger is a private blockchain to develop reliable, scalable, and secure architecture. Fabric is very efficient in developing transparent supply chain solutions to solve all the disputes existing in the system for years. The business and producers are the major component of the supply chain network, and the Fabric blockchain network provides enterprise-level solutions to solve their problems. Furthermore, a fabric blockchain system can help to identify victims who are supplying fake products.
Privacy Solutions through Quorum
Quorum is a permissioned system, and only authorized people can join this network. In the financial world, privacy is the main objective to make transactions secure between associated parties. The most interesting feature that makes quorum different from other blockchain platforms is its voting consensus mechanism, also known as Quorum Chain. Quorum chains assign voting rights through smart cards and make records of all the activities at different nodes. A quorum-based system can perform up to a hundred transactions per second that make quorum superior over its competitors.
How Artificial Intelligence Brings Innovate Solutions for your business?
Artificial intelligence stimulates human intelligence in machines to think and act like humans. AI is becoming a powerful tool for industries including finance, healthcare to develop analytics. The main goal of artificial intelligence is to build and train models for business solutions.
AI Emerging Technologies
Analytic solutions are to understand the customer journey and his behavior. AI analytical systems understand customer activities, create insights and predict the best solutions to deal with future challenges. Al analytical solutions yield mighty business benefits because of future predictions to develop the latest business strategies. AI-based analytics also helps to identify fraud through transactional processing.
Deep Learning Duplicates Human Actions
Deep learning is a form of machine learning that creates insights and scales up to large data sets. Besides these, DL reduces efforts and costs to develop models to speed up business growth. The usage of DL is very prominent in conservational systems these days. Self-driving cars are a great example of Deep learning because they can sense the environment and move safely without human input.
Development of Cyber Defense Mechanisms
The number of cyber-attacks has increased with the advancement in technology which is a major concern for companies globally. Data scientists are struggling to develop a cyber-defense to detect, stop and attenuate attacks to save organizational or personal data. They use neural networks and machine learning techniques to develop a system that can disclose doubtful user activities through input processing and detect cyber-attacks.
Robotic automation points out the functioning of collaborative processes through coping with human activities and automate them. There is a general concept about AI that it is replacing manpower that’s not true. The main objective of AI is to support and maximize human talent and skills. The robotic process automatic has a market worth of 1.40 billion dollars, and expected results show that it will reach up to $11 billion in 2027.
Integration of Blockchain and AI is a powerful tool to evaluate everything from supply chain and health care records to financial security. AI and Blockchain will provide double shield security against the latest cyber-attacks. Where AI can mine through bigger data set to create patterns based on data, Blockchain can withdraw bugs and duplicitous data sets.