Artificial Intelligence and the Blockchain will soon revolutionize these 5 industries

The combination of artificial intelligence (AI) and blockchain is destined to transform numerous industries generating radically new applications.

While artificial intelligence is feeding individual computers to perform increasingly complex computational and cognitive tasks with autonomy, the blockchain is allowing groups of computers to pool resources to perform heavy computational tasks and make decisions through consensus. Although these technologies are or are set to revolutionize a variety of different industries individually, there are still some challenges that must be overcome by each technology to achieve mass adoption. The combination of artificial intelligence and blockchain can potentially eliminate individual shortcomings and accelerate the adoption of these technologies to revolutionize entire sectors.

1. Financial services

Among the first industries to adopt the blockchain, the financial services industry is driving the blockchain revolution. Blockchain applications in the financial services sector are already beginning to progress beyond the proof-of-concept phase, which is more advanced than most other sectors. Financial trading e investments can be informed and automated using automatic learning algorithms that can be trained to monitor market sentiments. Transactions can be activated via blockchain to ensure quick exchanges and money can be transferred in real time. This automated, secure and transparent process can revolutionize financial and banking services, completely eliminating human intervention in financial markets.

2. Government

Governments have more to gain from the combination of artificial intelligence and blockchain, since they can not only use process automation but also benefit from greater security and transparency. While blockchain is used to maintain updated records of citizens' data, AI can be used to automatically provide basic services for citizens like renewing the license, collecting taxes, transferring land ownership, generating and collecting bills, etc. With the incorporation of blockchain, not only payments can be made faster than before but also with total transparency, eliminating any error or improper play by all ends.

3. Health care

The healthcare industry is planning to adopt blockchain as a platform for managing medical and health electronic records (EMR and EHR). The industry-wide adoption of blockchain in health care can allow patient data to be shared without interruption, in a safe and anonymous manner to healthcare professionals. Uninterrupted data sharing allows patients to access healthcare facilities from anywhere, which can be particularly useful in an emergency. The use of AI allows you to automate the storage, security and sharing of data provided by blockchain. Artificial intelligence can track individual health data to provide better diagnostics and can also provide analytical information by studying a large patient population.

4. legal

The combination of artificial intelligence and technology in the legal sector will help the legal system to become faster in cases of closure and could prevent the need for experimentation on most occasions. Automatic learning e AI can help lawyers and paralegals to carry out research during preparation for cases, which not only saves time, but also provides evidence and information that may have been forgotten by human eyes. Blockchain, which can automatically execute smart contracts when certain conditions are met, will eliminate most crimes and non-compliance cases, especially in financial cases.

5. Aviation

As the drones become more numerous over time, they would require more than just artificial intelligence to keep out of the others' courses and avoid collisions and delays. One company used the combination of artificial intelligence and blockchain to control drone traffic, which will allow any number of drones to operate without hindering one another. This will not only help the drone industry, but can also be adapted to the aeronautics sector, which can lead to higher air transport prevalence. Just like people, technologies work best when they work together.

The increasingly common combination of artificial intelligence and blockchain in various potentially revolutionary applications demonstrates this. Companies looking for opportunities for improvement should formulate use cases.