The Convergence of Artificial Intelligence, the Internet of Things, and Distributed Shared Ledgers (Blockchain).
It seems trite to say, as seems to happen multiple times a day, that the latest technology revolution is really here. I do say that now, although not for a single technology, but from the convergence of 3 technologies that unite to form a complete system of automation.
IoT devices are self-generating data into self-executing Blockchain Smart Contracts self-created, self-operated, and self-governed by Artificial Intelligence.
The real world process of gathering data, securely trusting, storing and transacting on the data, and creating, implementing, and monitoring the definitions and flow of data and its action methods can now be fully implemented by combining these 3 technologies in a unified system.
It’s great that your smart refrigerator can read the bar code from your milk container and generate a shopping list when consumed or expired. It’s even better that your smart refrigerator can soon place the order using blockchain purchasing networks on your behalf. But it’s the application of AI to analyze and anticipate your needs, to monitor the purchases for mistakes, fraud, or regulatory compliance, and create new and specific Smart Contracts that really seals the deal.
We have identified 3 main areas where AI can be applied to Blockchain. This reflects our current thinking but should not be considered definitive or exhaustive and we solicit and welcome any and all input to continue to refine this perspective model. Continue reading