As businesses, governments and consumers rely on digital systems to fulfil most of their daily operations, so do the risks of those systems being hacked increase. The more the technologies they adopt, the greater the hazards they have to face. In fact, new solutions to ease businesses daily operations such as Artificial Intelligence tech embedded in Operative Systems and IT software managing huge databases, bring even more complexity to an already convoluted world. However, these new techs can also become their strongest allies! If properly developed and embraced, they can deliver new layers of security that build up a strong shield of protection against hackers.
Governments in advanced countries are adopting Blockchain technology and artificial intelligence at a rapid pace. From Estonia, to Malta, The Netherlands to the United States, all countries busy themselves to become fully digitalized societies, hopefully before the expiration of the current decade. As I have written on a previous article, blockchain, AI and the Internet of Things are evolving at an unimaginable speed, particularly in advanced economies. Thus governments necessarily need to look at blockchain technology as being the best tech to cope with an increasingly interconnected and complex world. The reason why blockchain can be so useful pertains to its characteristics in terms of enhanced trust and because they are designed at their core to be transparent.
Blockchain technology is being discussed like never before. Not only has it brought about an era of cryptocurrencies, but it is also likely to bring about a revolution in various other industries like healthcare, education, e-commerce, and media. The most interesting combination is that of the AI and the blockchain. The blockchain is a public ledger of all the transactions that are digitized and decentralized. The completed transactions are stored in blocks in chronological order.
Finance teams lack the digital skillset to embrace the latest advancements in artificial intelligence, causing a negative impact on revenue growth, according to a new study from the Association of International Certified Professional Accountants and Oracle. The study of more than 700 global finance leaders found that despite a clear correlation between the deployments of AI and revenue growth, 89 percent of organizations have not deployed AI in the finance function and only 10 percent of finance teams believe they have the skills to support the organization's digital ambitions. The report, titled "Agile Finance Unleashed: The Key Traits of Digital Finance Leaders" highlights that 46 percent of tech-savvy finance leaders report positive revenue growth, compared with only 29 percent of tech-challenged leaders. Furthermore, organizations that have seen revenue growth are more likely to be deploying artificial intelligence compared to those where revenues are flat or declining. However, only 11 percent of finance leaders surveyed have implemented artificial intelligence in the finance function, and 90 percent say their finance team does not have skills to support enterprise digital transformation.
While much of today's fintech debate focuses on the potential applications of the technology to financial services, just as important are the underlying reasons why the industry is pursuing innovation so aggressively right now. To a large extent, it reflects the realities of the current environment – the need to reduce costs, to achieve regulatory compliance, to protect against new forms of risk and to stay relevant in a fast-moving and uncertain environment. Every fintech discussion should start and end with the same question: how can we use technology to enhance the client experience? To answer this, we need to understand which technologies will have the greatest impact and deliver the most client value today, tomorrow and in the future. Of all the current innovations, robotic process automation (RPA), or bots for short, are the most ubiquitous in financial services today – and they're already improving the client experience, both in our personal and professional lives.
Technology has infiltrated our lives, and the wave of digital disruption has impacted various industries. The finance sector is no exception. Since the industry is becoming more complex, relying on traditional methods is no longer enough. In fact, it can do your business more harm than good. To make the sector more efficient, financial technology, or Fintech, provides financial institutions and professionals with new tools to handle some of the most complex tasks.
ESO introduces the most advanced applications made on top of artificial intelligence technology and blockchain technology, this concept connects the futuristic professionalism with the current blockchain network approach, can be an excellent starting point for the future growth of financial transactions if integrated with mechanism of machine learning. While existing solutions offer to solve just one problem at a time, our team is up to build a secure, useful, & easy-to-use product based on private blockchain. It will include easy cryptocurrency payments integration, and even a digital arbitration system. NFC is a set of standards for portable devices. It allows them to establish peer-to-peer radio communications,passing data from one device to another by touching them or putting them very close together.
Nowadays two new technologies are roaring in the tech world – Artificial Intelligence and Blockchain. Both of these technologies have the potential to revolutionize the world. But the most discussed topic so far is that, whether these two can really be beneficial for each other. We already know that blockchain has the capability to offer a decentralized ledger system and many are already adopting the tech. On the other hand, Artificial Intelligence also started to streamlining processes for our benefit. But can blockchain based AI be the next technological milestone? Well, let's see if blockchain is really capable of powering AI or not. Artificial Intelligent is the simulation of human-like intelligence through computer systems. Usually, these computer systems are programmed in a way to mimic human-like actions. Apparently, the process is utterly complex as human activities are complicated to simulate. But the primary ability of artificial intelligence would be too rationalize like humans and take actions based on intellectual thinking.
Last year, we had the benefit of leaning on the recent findings of our inaugural Cycle of Progress digital transformation benchmark study to inform my predictions. This global survey examines global business leaders' hopes and fears about emerging technologies, and reveals which technologies they are actively implementing to drive the digital transformation of their business--versus which ones are yet to live up to the hype. Based on our findings, I see several technologies continuing to lead the way in 2019, namely Internet of Things (IoT), Artificial Intelligence (AI) and blockchain. More than half (53%) of Cycle of Progress respondents say that they have adopted IoT in some shape or form so far. Already well established in many businesses, IoT applications and services are leading the pack in having the greatest positive impact.
The combination of artificial intelligence (AI) and blockchain is transforming various industries by implementing new applications. AI is driving computers by complex computational tasks with autonomy. The blockchain is enabling groups of computers to connect together resources to perform heavy computational tasks. The combination of these two technologies is able to eliminate shortcomings and transforms all the industries. Healthcare: AI and blockchain drive the healthcare platform by introducing various advanced technologies, and managing electronic medical and health records (EMR and EHR).