How Blockchain and AI Transforming Industries

How Blockchain And AI Could Reshape Industries?

Healthcare Sector

In the healthcare sector, blockchain allows patients to prevent unauthorized viewers from accessing their medical information by encrypting it with a unique code. Also, it would allow healthcare providers to access patient’s records easily and provide aid even in times of emergency. Adding AI to it will bring more storage to the blockchain by making it easier to access unstructured data. Also, AI can track individual health data and provide improved diagnostics and better treatment to patients.

E-Commerce

The E-commerce sites make use of the user's data to recommend products based on their recent searches and preferences. This is actually made possible with AI technology and the issue here is that all the information of an individual will be stored on a centralized database of the company, which is easy to hack. To overcome privacy issue, blockchain is integrated to protect sensitive data like card details, mobile numbers, and addresses by limiting access to specific persons.

Supply Chain

AI manages inventory in the supply chain, especially because modern supply chains are becoming so complex where humans require machines help. Implementing AI helps in making logistics operations more accurate and it is also believed that blockchain has the possibility to disrupt the supply chain industry. Leveraging Blockchain with AI is very useful for the supply chain industry to secure processes and eliminate friction in delivery.

Financial Services

The finance industry integrated the blockchain and is more advanced than most of industries. The transactions are made at ease with utmost trust and security using blockchain. Financial trading and investments can now be informed and automated using machine learning algorithms, which can monitor market sentiments. Combining AI with blockchain ensures quick trades and the money can be transferred in real time.