How AI and Blockchain are Elevating Industries

How AI and Blockchain are Elevating Industries

By Healthcare Tech Outlook | Monday, January 21, 2019

The combination of artificial intelligence (AI) and blockchain is transforming various industries by implementing new applications. AI is driving computers by complex computational tasks with autonomy. The blockchain is enabling groups of computers to connect together resources to perform heavy computational tasks. The combination of these two technologies is able to eliminate shortcomings and transforms all the industries. Following are some of the industries, which are taking leverages from AI and blockchain:

Healthcare: AI and blockchain drive the healthcare platform by introducing various advanced technologies, and managing electronic medical and health records (EMR and EHR). The blockchain in healthcare enables seamless sharing of patient data in a secure way. The data sharing allows patients to access healthcare facilities from anywhere, which is useful in emergency cases. AI helps to automate data storage, security, and sharing ability provided by blockchain. Also, it can track individual health data and help to improved diagnostics. AI provides analytical insights from a huge amount of patients.

Aviation and Drone: Drones are unleashing new innovative possibilities in the field of remote sensing. They help to acquire data regardless of time and place. Also, are able to eliminate the human risk factor. Everyone can afford drone at a cheap rate and determine where and when to fly it. Enterprises are using the combination of AI and blockchain to control drone traffic that enables any number of drones to function without obstructing each other. This also helps the aviation industry that can lead to an increased prevalence of aerial transport. 

Financial services: AI and blockchain have revolutionized the financial sector remarkably. AI-driven machine learning algorithms have automated financial trading and investments. The blockchain ensures quick trades in the transactions and money can be transferred in real time. The automated, secure and transparent process has changed the financial services and banking sector by eliminating human intervention.

Transportation: Transportation sector carries a massive amount of data. AI and blockchain technologies benefit enterprises across various transportation and travel segments as airlines, railways, and freight logistics. Blockchain and IoT (Internet of Things) can combine together to make smart cities. AI drives maximum efficiency in the traffic by connecting sensors for street signs, traffic lights, and vehicle. Blockchain helps to reduce commute times, traffic congestion, and vehicle emissions.

Government: The combination of AI and blockchain allows governments to use the automation of processes and provide security and transparency. Blockchain maintains citizen data and allows basic citizen services as license renewal, tax collection, and collection of utility bills. The -blockchain makes payments faster with complete transparency and eliminates human-made mistakes.

Check Out : Top Blockchain Startups

Weekly Brief