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Technology blockchain and artificial intelligence may prove to be crucial for the development of many areas. According to experts Accenture Research, they can significantly improve supply chains. It is also possible that they will prove helpful in the process of energy management and the operation of Internet of Things sensors. It is also forecasted that AI over the next dozen or so years will contribute to an increase in the pace of domestic economies.

Blockchain and AI potential

The authors of the report "Powered by blockchain: realizing AI's full potential"Argue that in 15 years, artificial intelligence may contribute to the growth of the pace of national economies even twice.

Additionally, the use of technology blockchain it will make AI able to process data from various organizations that cooperate with each other. The development of value chains is a good example.

According to the latest data, as much as 7% of the world trade value is generated by the costs of preparing and sending documentation. Their reduction is to be made possible by a digital identity based on blockchain technology, both for the participants of the exchange, as well as for products and places in supply chains. This allows you to check the origin of the goods, as well as to track the entire cycle of their distribution.

Digital representations of real resources are able to ensure that specific data is transferred to the appropriate entities, eliminating the need to store it in company archives. If the entire process is additionally supported by artificial intelligence, then it would run even more efficiently.

The wide use of innovative technologies

Both blockchain and artificial intelligence can be successfully used in many industries. One of them is the energy sector, on the basis of which these technologies can increase the transparency of transactions and the process of concluding them, as well as ensure effective supervision of electricity consumption, taking into account a number of factors. Blockchain and artificial intelligence can also be used in context internet of things.

By verifying the data from the sensors, AI will be able to detect the demand for a specific raw material and then make a decision regarding its order. For this purpose, smart contracts on blockchain will be used. Much has been said lately that this technology increases the level of trust in data, as the parties to the contract are provided with the ability to track the full history of entered information. At the same time, the risk of data manipulation is reduced as all such attempts are clearly visible and information protection and control can be implemented at the level of a single element.

Blockchain and AI and industry

As already mentioned, experts forecast that AI will significantly contribute to accelerating economic growth in the coming years. The work will take on a completely new character thanks to the innovative use of machines. Specialists from an analytical company MarketsandMarkets indicate that the value of the artificial intelligence market in industry reached USD 1,1 billion last year, and according to estimates, it will reach USD 2026 billion in 16,7. Currently, such giants as Tauron, BMW and Mercedes are using blockchain technology.

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