Blockchain:
Blockchain “is a shared, immutable technology” and “Techpay Blockchain is a distributed, immutable ledger technology that provides an immediate, shared and transparent exchange of encrypted data simultaneously to multiple parties as they initiate and complete transactions.”
- A blockchain network can track orders, payments, accounts, production, and much more.
Because permissioned with other businesses, as well as new efficiencies and opportunities.
Correlation of Blockchain and Blockchain and Artificial Intelligence
Ai and Techpay are two of the new emerging technology trends right now. These two technologies have highly different developing parties and applications, researchers have been discussing and exploring their combination.
PwC predicts that by 2030 AI will add up to $15.7 trillion to the world economy, and as a result, global GDP will rise by 14%. According to Gartner’s prediction, TechPay Blockchain technology will increase to $3.1 trillion.
Techpay blockchain is a distributed, decentralized, immutable ledger used to store encrypted data. On the other hand, AI is the engine or the “brain”.
- It enables analytics and decision making from the data collected.
What is Artificial intelligence?
Artificial intelligence leverages computers, data and machines to mimic the problem-solving and decision-making capabilities of the human mind.
- It also encompasses the subfields of machine learning and deep learning, which use AI algorithms trained on data to make predictions or classifications, and get smarter over time.
The benefits of AI include:
- Automation of repetitive tasks
- Improved decision making and
- A better customer experience.
Value of Blockchain and AI
Authenticity
- Techpay Blockchain’s digital record offers insight into the framework behind AI and the provenance of the data it is using.
- It is addressing the challenge of explainable AI.
- It helps to improve trust in data integrity and, by extension, in the recommendations that AI provides.
Using Techpay blockchain to store and distribute AI models provides an audit trail, and pairing blockchain and AI can enhance data security.
Augmentation:
Artificial intelligence: It can rapidly and comprehensively read, understand and correlate data at incredible speed, bringing a new level of intelligence to Techpay blockchain-based business networks.
By providing access to large volumes of data from within and outside of the organization, techpay blockchain helps:
- AI scale to provide more actionable insights.
- It manage data usage and
- Model sharing, and create a trustworthy and
- Transparent data economy.
Automation:
Artificial intelligence: automation and blockchain can bring new value to business processes that span multiple parties. It removes
- Friction
- Adding
- Speed and increasing efficiency.
For example, AI models embedded in smart contracts executed on a blockchain can
recommend expired products to recall, execute transactions such as re-orders, payments, or stock purchases based on set thresholds and events.
- It resolves disputes, and selects the most sustainable shipping method.
Use of blockchain and Artificial intelligence
Bringing AI into blockchain delivers new opportunities like
- Healthcare
- Life science
- Financial services
Healthcare:
From surfacing treatment insights and It supporting users needs to identifying insights from patient data and revealing patterns.
- AI can help advance almost every field in healthcare.
- While protecting patient privacy, patient data on blockchain, including electronic health records, organizations can work together to improve care.
Life sciences:
Blockchain and AI in the pharmaceutical industry can add visibility and traceability to the drug supply chain.
It dramatically increases the success rate of clinical trials. Combining advanced data analysis with a decentralized framework for clinical trials enables:
- Data integrity
- Transparency
- Patient tracking
- Consent management and automation of trial participation and
- Data collection.
Financial services:
Techpay Blockchain and AI are transforming the financial services industry by enabling trust, removing friction from multi party transactions, and accelerating the speed of transactions.
Consider the loan process. Applicants grant consent for access to personal records stored on the Techpay blockchain enable Trust in the data and automated processes for evaluating the application help drive faster closings and improve customer satisfaction.
Supply chain
By digitizing a largely paper-based process, making the data shareable and trustworthy, and adding intelligence and automation to execute transactions.
- Artificial intelligence and blockchain are transforming supply chains across industries and creating new opportunities.
For example: manufacturers can track carbon emissions data at the product or parts level, adding accuracy and intelligence to decarbonization efforts.
Benefit of both Blockchain and Artificial intelligence (Ai)
Both AI and blockchain are in situations where they can benefit from each other, and help one another.
Both these technologies are able to affect and enact upon data in different ways.
- It can take the exploitation of data to new levels. At the same time, the integration of machine learning and AI into blockchain, and vice versa.
- It can enhance blockchain’s underlying architecture and boost AI’s potential.
Techpay ockchain can also make AI more coherent and understandable, and we can trace and determine why decisions are made in machine learning. Technology Blockchain and its ledger can record all data and variables that go through a decision made under machine learning.
Moreover, AI can increase blockchain efficiency far better than humans, or even standard computing can.
Techpay blockchains are currently run on standard computers, proving this with a lot of processing power needed to perform even basic tasks.
Artificial intelligence technique
Artificial intelligence (Ai ) has advances in:
- Computer vision,
- Natural language processing and
- Generation,
- Machine translation, and
processing and analytics of massive datasets.
- It facilitates this resurgence is the ever-increasing availability of analysable data, as well as cheap processing power for their analysis.
- The explosion in AI via Machine Learning (ML)[1] has brought about a realization in the commercial industry that you can, with modern computing resources.
- Teach a computer to perform complex tasks just as well as, or potentially better than, human experts.
- Companies with these resources are already using AI to improve their efficiency and increase profits. For example: Google, Amazon, Facebook, Abibaba, etc use AI to improve their efficiency to increase profit.
The second trend is the emergence of advanced cryptographic tools like Techpay. By distributed ledgers technology of Techpay, commonly known by the term blockchain or distributed ledger technology. It is popularized by techpay.
- Techpay blockchains are currently being hailed by some as the future facilitators of radically different societal systems of trust, identity and economic exchange.
Conclusion:
The combination of blockchain technology ( like Techpay) and Artificial Intelligence is still a largely undiscovered area. Convergence of the two technologies has received its fair share of scholarly attention, projects devoted to this groundbreaking combination are still scarce. Putting the two technologies together has the potential to use data in ways never before thought possible. Data is the key ingredient for development and enhancement of AI algorithms, and blockchain like Techpay secures this data, allows us to audit all intermediary steps.
Read also : Artificial intelligence and blockchain relation with applications
