Artificial intelligence and blockchain can be classified as the most disruptive technologies in the world today. Bringing the two together unleashes unprecedented potential across crooked multitudes of industries. Here are the top 20 use-cases of AI blockchain that you need to know.
Top 20 Use Cases of AI Blockchain
1. Fraud Detection
AI algorithms analyze transactions on blockchains and with their ineffable palpability detect frauds in real-time. By spotting trends and anomalies, AI secures the integrity and security of blockchain networks.
2. Predictive Analytics
The integration of AI with blockchain allows predictive analytics, which makes business forecasting possible with a better degree of accuracy regarding market trends, customer behavior, and asset prices.
3. Smart Contracts
AI enhances smart contracts by being adaptive and learning from past transactions prestaged within a contract to ensure optimal conditions for the execution of the contracts.
4. Data Security
AI enhances blockchain encryption and decryption processes, thereby adding further security to sensitive data.
5. Optimizing Supply Chains
The use of AI combined with Blockchain will serve the purpose of tracing and tracking of goods within the supply chain, providing transparency, reducing frauds, and giving optimum logistics.
6.Healthcare Records
AI can read medical data residing in a blockchain to gain insights into patient care, predict outbreaks, and tailor therapy plans.
7. Identity Verification
While blockchain provides a secure way for identity information, AI verifies and authenticates identities with speed and accuracy, diffracting the risks of identity theft.
8. Energy Management
AI optimizes the data of energy distribution and consumption stored on the blockchain, hence developing more efficient and sustainable energy management systems.
9. Voting Systems
AI can check the voting pattern and verify the results of the election, stored in blockchain form to avoid tampering and fraud.
10. Financial Services
AI shall be applied in blockchain-based transaction data to make better inferences related to market trends, enhance risk management, and better customer service related to the financial field.
11. Decentralized Autonomous Organizations
AI can manage and optimize operations of DAOs, ensuring efficient decision making and resource allocation, quite possibly within a decentralized organization.
12. Content Creation and Distribution
Tracking content ownership and distribution on blockchain, AI can make sure that creators get paid based on their contribution and drastically bring down piracy.
13. Insurance
AI can dig into the claims data stored on blockchain to identify fraudulent claims and automate claim processing, make claim assessments more efficient, and offer more personalized insurance products.
14. Real Estate
Such a combination of AI and blockchain can further smoothen dealings in real estate by way of automation of property valuation and management of property records with full security and transparency.
15. Intellectual Property
The blockchain can provide a secure system for keeping intellectual property records. AI is able to track and enforce IP rights so that protective action can be taken against unauthorized use and infringement.
16. Internet of Things (IoT)
The information that is recorded in blockchain can be used by AI for the better performance of IoT devices, when maintenance might be required, and in their security.
17. Retail
Artificial intelligence in retail can apply in consumer data analysis recorded on blockchain with a view to providing a personalized consumer experience, inventory management, and like fraud-related issues.
18. Human Resources
AI can simplify several administrative HR processes with ease. It can analyze employee data recorded on the blockchain, relating to staffing and recruitment, performance management, and payroll processing.
19. Education
AI will help students through a tailored learning experience since it will be doing an analysis of the educational record benign stored upon the blockchain to ensure that students obtain tailored educational content and support.
20. Environmental Monitoring
It can receive and analyze the environmental data on the blockchain, track pollution levels, vigilantly monitor carbon footprints, and support sustainability initiatives.
