#MillenniumLive , Podcast , Retail
In preparation for the Digital Enterprise Transformation Assembly taking place in June, we are dedicating this week on Digital Diary to all of the most innovative tech trends disrupting all leading industries. (Hint: they will also most likely make an appearance on our agenda during the assembly…)
Anyone who has an interest in digital transformation or technology, in general, is aware that A.I. and blockchain are two topics that have made a huge splash in a variety of industries. Whether you have personally worked with these two concepts, it is beneficial to be familiar with them if you want to be prepared for the future of tech.
There is a ton of content out there regarding both blockchain and A.I. They both have proven to be extremely disruptive, and experts believe it will only grow from here.
“Last year was massive for the creation of exponential technologies leveraging Artificial Intelligence (AI) and Machine Learning (ML)… Blockchain has been laying the foundation for a new decentralized internet at the same time. Last year, the total amount of capital raised via ICOs was a little over $5 billion.” Forbes reports.
Down To The Basics
It was always common for both of these trends to be discussed on different playing fields. Well, the future is knocking and it predicts that these two tools will be used together in business. Before your mind completely explodes, don’t worry. Let’s recap!
A.I. (artificial intelligence if you are just now tuning in) is essentially when machines can perform tasks in an intelligent way. The word intelligence relates to the idea of these machines possessing qualities that resemble those of humans. With the help of machine learning and deep learning, neural networks allow for cutting-edge technologies to appear through these machines. A good example of this would be robotics. Remember last week Walmart reported that robots will appear in-stores to help carry out human tasks? That is exactly what A.I. is.
A.I. is not going anywhere. In fact, it is just getting started, especially because of how fast data is growing throughout these leading industries like retail, marketing, and healthcare.
Blockchain is simply a place where data is stored in a digital way, whether it be encrypted, or through a disrupted ledger format. Blockchain is eligible if you are a highly intelligent system. Hmm, sound familiar?
A.I. And Blockchain Can Work Together
According to Forbes, A.I. and encryption are a match made in heaven.
“Data held on a blockchain is by its nature highly secure, thanks to the cryptography which is inherent in its filing system,” Forbes reports.
Not only can A.I. read encryption in a stellar way, blockchain can also help us track decisions made by artificial intelligence. Since A.I. can be hard for humans to understand, blockchain can work to make this language more accessible through a database.
“If decisions are recorded, on a datapoint-by-datapoint basis, on a blockchain, it makes it far simpler for them to be audited, with the confidence that the record has not been tampered with between the information being recorded and the start of the audit process.” Forbes reports.
A.I. and blockchain can be a disruptive force. Both tools can use their best assets in order to help humans understand the complex world of algorithms and data. If businesses can successfully merge these two trends, they may be able to stay above the curve and ahead of the competition.
Of course, if you are interested in merging these two trends, you will have to have a strategy. You can start with an A.I strategy and then be able to move onto blockchain. We got you covered.
ABOUT THE DIGITAL ENTERPRISE TRANSFORMATION ASSEMBLY
As more and more businesses look to digital technology and strategies to transform their business, CIOs know that data and information technology have never been more important. Understanding the convergence of mobile, social, and cloud is the first critical step for organizations looking to create opportunities and stay ahead of the competition.
The Millennium Alliance is thrilled to present our bi-annual Digital Enterprise Transformation Assembly, put together by the industry, for the industry. Join us in Miami, FL. for a series of executive education roundtables, keynote presentations, collaborative think tanks, educational workshops, and networking sessions will offer industry-specific topics and trends to ensure your company maintains its competitive advantage.
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