The combined effect of Internet of Things (IoT), AI, and blockchain joint forces represent an unprecedented opportunity for both public and private-sector enterprises. Each institution that has the ability to exploit these technologies will have a clear edge in completely streamlining and enhancing its existing processes and developing innovative products and services for an entirely new consumer generation. Even though each of these technologies presents exciting opportunities for businesses individually, AI, IoT, and blockchain technology are most likely to be to present significant opportunities when combined.
The digital revolution has transformed technological disruption into a constant process from just a onetime event. Now, with an insurmountable gap to close, businesses falling behind will quickly find themselves. AI and blockchain are not just used for business purposes, but they can also be used to empower the whole organization to get benefits in the long term.
IoT is considered as a sensing part of evolutional technology, and AI is the thinking part. AI has the ability to allow fast, smart decision-making—either in support of or instead of human intelligence. Companies can assign complicated and routine tasks to achieve a better level of accuracy and efficiency that goes beyond human capabilities. At the same time, giving accessibility for decision making in the hands of smart machines has insightful, ethical, and even religious propositions. Whereas AI and machine learning are already making smart interventions on behalf of humans—for instance, in human voice-activated personal assistants—there is pre-work to be done before full authority is given to machines.
These transformative technologies will bring change—in professional and personal lives and society as a whole as well. Nearly all of these capabilities are currently available. The only thing to take care of now is about moving forward with the future and empowering businesses to take advantage of AI, IoT, and blockchain’s transformative impact. This can be quickly done with the help of the cloud. There is no better way to implement any new technology without the cloud. It effectively levels the field of play. Even small businesses can access the same computing power and resources as large organizations with the cloud, while traditional businesses can embrace the same flexibility as small start-ups.