IT services that are empowered by AI and Blockchain tools in 2021
The constant augmentation of IT services in the global arena has given rise to a more demanding market. Customers want their end-users to have the best user experience (UX) and are asking for the latest tools to be incorporated into their solutions. The IT arena has been at the forefront of things in the past few years and continues to offer dynamic solutions to multiple industries.
There is much advancement in the software development field and this aims to give rise to steady growth in the IT industry in the year 2021. So, what are the tools that one should look forward to now, in order to offer futuristic services?
Understanding the importance of Artificial Intelligence and Blockchain Technology in IT
Let us first define these latest trends and then delve into their efficacy.
- Blockchain Technology
Blockchain Technology gained prominence with the introduction of bitcoins. It is a system in which transactions are duplicated and recorded in the form of blocks. These are linked and named chains thereafter. This record-keeping system is safe as it cannot be edited and nobody can cheat it as well. Being encrypted, this duplicate record of transactions can be shared across systems to make them accessible. Both these trends have been used extensively in the fields of finance, accounts, supply chain, healthcare, and insurance, to name a few. Software development has also benefited a lot with the integration of these two tools. Let us see how they are used in the IT sector in the following lines:
- AI and Blockchain in IT
In order to leverage your IT services and create a disruptive business model, AI and Blockchain are two trends that you will need to adapt. These two are quite effective individually, however, they become indispensable when they are merged. Such a combination can enhance Machine Learning. AI technology and Blockchain can create disruptive solutions as both of them are based on data. The value of data in IT has already been established in creating customized solutions and offering the best services to customers.
Artificial Intelligence functions on data. Based on this, computers/systems are able to create an environment that facilitates the growth of their behaviour as humans and depicts their intelligence. So, a mixture of these latest trends helps store and share data of value in an easy manner, since Blockchain Technology is all about securing data. So, services that are designed on these two tools are bound to be efficient and disruptive.
Another major offering is the creation of a decentralized AI environment using Blockchain. This is being developed by the software giant Microsoft and once this sets off, many smaller companies can incorporate Machine Learning into their solutions at lower costs than now.
The growth of artificial neural networks
Artificial Intelligence is based on artificial neural networks (ANN). The latter is a computer system that processes information/data made available and analyzes it as the human brain. Such a process is highly effective in solving complex problems that are not humanly possible. Any amount of data is analyzed by ANN and with its self-learning capabilities, it is able to work better with more data. The results have been proven to be quite astonishing.
As far as IT services are concerned, artificial neural networks are used for speech and character recognition, face recognition, text classification, machine translation, data processing, robotics, etc.
A combination of Artificial Intelligence and Blockchain Technology in creating and offering IT services is the way forward. It creates the most powerful solutions and ensures that the ever-changing demands of the clients are met with at all times. Whether it is in the current year or the future, such a business model is necessary to beat the competitive market.