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Technology bridges the gap between humans and robots with advancements in AI. These days, an AI app development company tends to integrate blockchain technology to transform the core business processes.
In this blog, we are going to discuss the top ways Blockchain and AI combination brings revolutionary changes in mobile app development. Before digging deep into these ways, here is a glimpse of both these futuristic technologies.
Introduction of Blockchain and AI Technologies
Before digging deep into these ways, here is a glimpse of both these futuristic technologies.
Also known as Distributed Ledger Technology (DLT), blockchain technology can make the records of digital assets transparent and unalterable. Cryptographic hashing and decentralization are two major characteristics of blockchain technology.
Apart from the BFSI sector, retail, supply chain management, and other industry sectors can also leverage the benefits of this technology.
Let’s take the example of Google Docs to understand an analogy to how blockchain works. Here, the entire process of creating and sharing the document with people makes a decentralized chain.
As a result, multiple users can edit the same document at the same time and all modifications are recorded in real-time.
It makes the process transparent, secure, and swift for users. These days, blockchain technology has become an inevitable part of digital transformation solutions.
Artificial Intelligence (AI)
AI is nothing but the simulation of human intelligence in machines. It can be programmed to analyze like humans. Simply put, AI is designed to rationalize various situations and enable users to achieve set goals.
Elements like perception, reasoning, and learning are major elements of AI technology. AI app development services can integrate the features based on NLP (Natural Language Processing) and ML (Machine Learning) to get advanced and intelligent apps.
Virtual assistants and chatbots are major examples of AI-based applications. All the core industry sectors including automobiles, healthcare, eCommerce, manufacturing, and retail have integrated AI technology for streamlining processes and bringing automation.
Importance of AI and Blockchain Technology Combination
AI and blockchain are innovative concepts to analyze and transmit data in different ways. Their combination can yield better outcomes and assist users to leverage the data more conveniently and accurately.
In other words, AI becomes more effective and coherent together with Blockchain technology. Machine Learning (ML), a type of AI, can assist entrepreneurs to trace their footprints and make informed decisions.
Here, blockchain technology makes insights given by ML more secure and comprehensible. In a way, AI can increase the efficiency of the machine and Blockchain can make the related data more secure.
Talking about the mobile app development domain, the combination of AI and Blockchain makes enterprise apps more efficient and sophisticated to handle the complex processes of modern enterprises.
Here are the top ways the AI-blockchain combination can bring radical changes in the app development domain.
Read more : How AI and IoT Combination Transforms Modern Enterprises in 2022
How Blockchain-AI Combination Transforms Mobile App Development Domain?
The AI-Blockchain combination enables users to leverage the benefits of AI app development and blockchain app development in newly developed apps. Here is how it makes it possible-
More Security with Encryption
Blockchain brings encryption for storing the data securely. Highly confidential information like bank account numbers and corporate details can be stored securely with the help of blockchain app development services.
On the other hand, with this combination, you can find documents from the high volume data in a single click using AI. The biggest benefit of AI app development is the capacity of analyzing massive data.
These days, researchers strive for implementing AI and Blockchain in a way that encrypted AI can maintain data security.
Enhanced Data Management
AI is useful in processing a huge amount of data. Big players like Google and Facebook leverage the benefits of AI technology for processing the user’s data and getting meaningful insights. Smaller industries are still striving for using AI.
Here, an AI app development company can help by integrating AI and blockchain while developing the application.
The blockchain-powered app can record all the modifications and assist users to mimic the action with the help of AI-based features. Altogether, users can manage the data effectively without spending a small fortune using the AI-Blockchain combination.
Improved Thinking Process
AI can give more benefits only when the user comprehends the machine language. But, blockchain is relatively simple and convenient for users.
Every click and change can be easily recorded in the blockchain-based system that makes the system easier to use. In other words, blockchain can improve the thinking process for the AI-based system while making the system easier for users. Another benefit of blockchain app development is it can enhance the overall security.
Optimized Energy and Processes
AI technology is designed to analyze the historical data received from data centers. When this technology is integrated into your business model, you can get accurate actionable insights with predictive analytics and other advancements.
It can optimize energy consumption in combination with blockchain technology. It can reduce the prices of hardware in different industry sectors and blockchain technology can assist you to come up with smart contracts.
AI-blockchain combination enables entrepreneurs to optimize processes while making them safer and they can take prompt actions if necessary.
Be it Android app development or iOS app development, the combination of AI and blockchain technologies can work wonders. Both these futuristic technologies are useful components of digital transformation solutions and act as complementary to each other.
For example, in a digital payment solution, blockchain can make online transactions secure and AI can analyze these transactions. Integration of these technologies makes digital wallets secure and user-friendly.
Solution Analysts is a leading digital solutions developer in the USA and India. We offer top-notch AI and blockchain app development services to modern enterprises with cutting-edge tools and in-house teams of experienced developers.
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