Decentralized Intelligence: How Enterprises Can Leverage AI & Blockchain in Mobile App Development?
February 13, 2020
Digital transformation covers various industries in many countries of the world. Let?s take the technologies of AI and blockchain for instance, that are becoming widespread nowadays.
Digital transformation covers various industries in many countries of the world. Let’s take the technologies of AI and blockchain for instance, that are becoming widespread nowadays. The combined use of AI and Blockchain promises the appearance of smart, safe, and effective systems by providing real value across a range of applications.
Artificial Intelligence and Blockchain: The Perfect Match
Artificial intelligence and blockchain are powerful engines of innovation that can drastically change the world we live in. AI systems have capabilities that are associated with human intelligence, such as planning, training, solving logical problems, as well as social skills and creativity. Interest in this technology has renewed today thanks to breakthroughs in machine learning, especially deep learning, and also due to the rapid growth in the amount of available data, which helps to increase the efficiency of model training. Developments like self-driving cars and courier robots are appearing, and anxiety is growing along with it.
The natural development of the “IoT & blockchain” combination would be its addition to artificial intelligence since IoT devices in most scenarios of their work generate a lot of data, which can be successfully used in training samples of AI models. This creates significantly higher value, often leading to completely unexpected and fundamental discoveries for business. With blockchain capabilities integrated with existing AI applications, you can get an effective tandem of features. Among them, we would like to outline ensuring joint ownership of the generated (and consumed) value through AI-driven processes.
Scientists actively study blockchain technology and AI. Two revolutionary directions are capable of radically reshaping the industries, opening up wide opportunities for the information flow, and, on the whole, taking human life to a new level. Blockchain technology can play a significant role in the development of AI. The decentralized system allows determining errors, tracking the data from which source the “distortion” appeared. It will simply not include inaccurate information in the AI ??model. So, both technologies have the power not only to enhance daily life but also foster their evolution.
AI and Blockchain in Mobile App Development
According to Fortune Business Insights estimates, by 2026, the value of AI will reach 202.57 billion. This novel approach is also utilized in mobile application development: it allows you to launch assistance in computation, data accounting, analysis of consumer behavior, etc. AI is known as technology that can substitute people with machines. We can safely say that in the future, AI will drastically change the scope of mobile apps development.
Blockchain is another trend direction in business mobile app development, which demonstrates a high intensity of expansion. So how mobile app development companies benefit from these novel technologies? A good example of AI and blockchain integration, which serves to improve the user experience, can be household appliances. With a sensor, the refrigerator monitors the provisions, and the blockchain ensures the integrity of the data received in trusted decentralized systems. In turn, IoT ensures the receipt of sensor readings; and the blockchain provides the fulfillment of a smart contract and the registration of the supplier chain. Finally, artificial intelligence predicts actions, issues directions, and recommendations. Mobile chatbots running on top of the AI ??core inform the user and the network of suppliers that it is time to order a fresh salad or throw away the spoiled chicken. Not a single technology can solve all these problems alone.
AI, the IoT, and blockchain are increasingly being introduced in healthcare, the financial sector, and the automotive industry. The combined use of these technologies promises smarter, safer, more efficient, and more secure systems. Systems formed from IoT devices integrated with RPA are characterized by reliable, secure communications between sensors, drives, and power sources. Artificial intelligence is being implemented in many systems, ranging from quantum computers to edge devices. Such systems receive the ability to quickly "think", independently "perceive" the environment and act within the existing restrictions. Today, mobile app developers more confidently apply numerous technological innovations to solve complex problems, the conditions of which are constantly changing.
How Technology Organizations Can Use AI and Blockchain
Introducing artificial intelligence, companies get a unique chance to personalize their mobile application for their users. An AI-based app can analyze their clients' preferences for more than 1000 parameters. Moreover, it adapts to the clients in accordance with their most frequent queries. The neural network studies the behavior of customers inside the mobile app and provides a better user experience. For instance, it analyzes, which functions the client most often uses and displays them on the main page of the application.
Some experts insist that the implementation of AI and blockchain should primarily be carried out, taking into account the safety of users. However, there are many pain points that these technologies can fix:
· Business model transformation. Transformations in business mainly come down to the integration of AI and blockchain functions into processes: data analysis, performance prediction, computer vision, data protection, faster transactions, etc.
· Predictive algorithms. Artificial intelligence will help manufacturers better predict machine breakdowns. Special algorithms will monitor the operation of devices and report possible problems even before they occur.
· The advent of Quality 4.0. Quality 4.0 is the result of integrating AI into the manufacturing industry. It includes algorithms for notification of failures: deviations from set temperatures, changes in the operation of devices, raw materials, and so on. Once workers receive a malfunction message, they will be able to stop the production of defective products in time.
· Safe forecast trading. By analyzing market conditions from AI, companies and individuals will be able to avoid unforeseen risks when selling and buying shares.