How will AI and Blockchain Shape the Future?

AI is a revolutionary creation that is going to have unthinkable results in the future and blockchain is also disrupting countless industries around the globe. So, are you intrigued to know what happens when these two buzzwords of the tech world are merged? But first, let’s have a look at what Blockchain means and how will it infuse democracy in the digital future.

Blockchain can be seen as an ever-growing list of blocks that are connected using cryptography. Every block consists of a cryptographic hash from the last block, timestamp, and transactional data. It is a distributed ledger with no central authority that records transactions amongst parties in a permanent and verifiable way. This record-keeping technology is making waves in various sectors. From banking to voting to messaging apps, there is a long line of industries that are upgrading their systems by using blockchain. Hence, you can imagine the wide-reaching effects of this technology.

Facts you must know about Blockchain Technology

  • The market for blockchain will grow by 42% by 2020 
  • The blockchain market capital is anticipated to reach $25 Billion US Dollars by 2023
  • Blockchain engineer jobs are multiplying day after day

Now, let’s move on to understanding what artificial intelligence is all about 

Artificial Intelligence, also called machine intelligence, is a branch of computer science that entails machines mimicking cognitive functions of the human brain. In simpler terms, when machines imitate human behavior, it is referred to as artificial intelligence. Commercial flights using AI autopilot, self-driving cars and Google maps analyzing the pace of the moving traffic at all times are great examples of how AI is molding different spheres of our lives.

Facts you should know about Artificial Intelligence

  • In the year 2018, the AI market reached $24 Billion, with the anticipated CAGR to reach 37.3 percent for 2017-2022
  • The global spending on AI systems is predicted to arrive at $77.6 Billion in 2022, as per the IDC Spending Guide
  • Artificial Intelligence will give rise to 58 million jobs by the year 2022, as per a Forbes article.

With the demand for these promising technology shooting up through the roof, you can imagine how well your career can shape by developing skills in both AI and blockchain technology. Especially, when employers are aggressively seeking AI engineers to handle intense AI functions. 

Organizations Giving Birth to AI and Blockchain jobs

  1. BURSTIQ

This organization is involved in creating health wallets by amalgamating blockchain, AI and big data to comprehensively handle patient’s data. These health wallets can be accessed by healthcare professionals who can then make informed decisions by taking a glance at the patient’s health records as well as wellness plans. Therefore, it is producing jobs for Blockchain and AI engineers.

  1. ALPHA NETWORKS

It is an entertainment platform powered by blockchain that is utilizing Artificial Intelligence to elevate audience analytics along with viewership algorithms. The blend of blockchain and AI enables the company’s proof-of- engagement devices to activate payments to content providers on the basis of views along with engagement times.

  1. Figure

 This firm is based out of San Francisco and uses Artificial Intelligence and blockchain to organize the process of home loans by searching access points for home improvement loans, Consumer credit products, home buy-lease offerings and so on.

  1. CYWARE LABS

Cyware labs use blockchain and AI-based devices to enhance their cybersecurity as well as threat intelligence solutions that can be utilized to multiply the potential of mobile threat intelligence, doubtful incident reporting platforms and secure messaging.

 

News Reporter

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