Deloitte LLP report suggests that finance wings of future enterprises will test and adopt Blockchain, Artificial Intelligence (AI) and chatbot technologies. The obvious reason for them undergo such a sea change is speeding up the business processes while keeping the operational costs minimum.
I will now have a closer look at all the three technologies – Blockchain, AI and chatbot.
Blockchain
Blockchain is a cluster of blocks linked internally with the help of cryptography. Largely regarded to be invented by a person named Satoshi Nakamoto, it allows users to makes entries besides a group of people controlling the information made available.
Cryptocurrencies are mostly associated with blockchains. However, a blockchain is capable of handling much more than just virtual money. As technology gets more advanced, your security and privacy becomes even more important than ever.
- UPS is a shipping service company that has adopted blockchain in recent times. This observation has resulted in it joining Blockchain in Trucking Alliance (BiTA).
- NTS (National Transportation Capacity), the largest electric bus operators in China joined hands with Seven Stars Cloud Group (SSC) in order to implement blockchain.
There are several other instances in which blockchain has become the crux for many a company.
Artificial Intelligence
The intelligence displayed by machines in accordance to the usual intelligence displayed by humans is what AI is all about. John McCarthy from the University of Stanford is one of the founding fathers of AI along with Newell and Simon who designed the concept.
- Google chose DeepMind as the in-charge to implement AI for cooling its data center resulting in an increase in energy efficiency.
- Amazon seeks solace in AI for its recommendation system offering suggestions based upon what your Facebook friends like, for instance.
In fact, the technology is not confined to Blockchain or AI alone, but extended to chatbots as well. Let us have a quick look at chatbot now.
Chatbots
A chatbot is an interactive converational agent also known as IM bot besides several other names. Joseph Weizenbaum is credited to have implemented the first successfull chatbot developed back in 1966.
- Live Chat bots are a huge rage these days with almost every website having it. In fact, you have Driftbot offering you a personal assistant for any task you perform upon the website.
- Wix has got its own Artificial Intelligence Design bot that is capable of customizing your website based upon the requirements of other people’s requirements.
However, these technologies are not confined to few implementations alone but are known to expand their horizons with features, platforms and domains that are beyond your imagination.
taashee 