Technological development has propelled the wave of change. We are witnessing so many new developments around us. One such technological breakthrough that we will be highlighting in this blog is Blockchain and artificial intelligence. Blockchain is the latest entrant in this world, but Artificial Intelligence has long been there in the business, but it’s only recently that AI has fetched so much attention. Both these technologies are revolutionary in nature and thus have the potential to bring forth a lot of transformative changes in the future. Imagine coming together with both these powerful technologies. This blog’s focus is to highlight how AI-enabled Blockchain will be helpful and what new changes will it be bringing with it.
AI-enabled Blockchain: What you need to know?
Both Blockchain technology and Artificial Intelligence have been the most disruptive technologies in recent years, obviously the positive ones. Whereas Blockchain provides the DLT platform for the exchange of information, it also has a lot to do with the shared ledger, smart contracts, and higher data security. AI, on the other hand, offers intelligence and decision making capabilities to the machine. AI focuses on making machines think and respond like a human.
Since both these technologies have their own set of potentials, you have the next level of developments to explore when both these come together. It is not just the AI and machine learning that is going to get these benefits, but the intervention of AI and machine learning with Blockchain will make this technology far more effective and efficient. It will give a boost to the architecture of Blockchain. The issues of scalability that longevity and sustainability of Blockchain can be easily overcome with the boost from AI.
With the integration of both these technologies, we can also make AI more understandable and coherent. With the help of Blockchain, we can easily trace and find out why a particular decision was made. Moreover, with the growing use of AI and machine learning apps, there is going to be a large volume of data. And all this data will be lying in the virtual world. To overcome the security and data breach threat, we can have a system that is far more secured, and Blockchain promises the same.
As per the estimate of PwC, AI will be adding up to $15.7 trillion to the global economy by 2030. This is eventually going to shoot up the GDP by 14%. Also, as per Gartner, Blockchain technology’s contribution to the business is also set to increase and reach a mark of $3.1 trillion by 2030. This whooping rise and growth indicate that there is going to be a rise in the use of both these technologies, and so there would be a need for a trained workforce who can work efficiently on both these technologies.
Blockchain and are revolutionary technologies that hold a lot of prospects for the future. If you, too, are looking to keep a positive career shift, then you need to go for a certification program in Blockchain. Connect with the Blockchain Council to get more such interesting updates.