Future Applications of Blockchain and Artificial Intelligence
Blockchain has been used primarily in the financial market, but there are many more useful applications for this ground-breaking technology – especially when combined with artificial intelligence (AI). Various industries are now looking into the different ways in which they can apply these innovations to benefit their customers.
Gaming Applications
There is plenty of potential for blockchain and AI to transform the gaming world – particularly when it comes to safety and player protection. Currently, at online casinos and gaming sites, players are offered the ability to track their own gaming habits using data collected from their sessions. However, by the time a player decides to analyze their own behavior, they may already be down the dangerous path to addiction.
The need for such technology was highlighted by the 32’s recent failure to protect a problem gambler who spent over £750 000 on the site in two years. According to the UK Gambling Commission, there were 22 instances during the two-year period when the player’s behavior should have been flagged but the casino operator failed to do so.
An integration of blockchain and AI technology into online casino software would prevent this situation from happening again. The players data would be securely stored on the blockchain network, and AI would be able to analyze it to look out for risky behavior. It would be a huge benefit to the gaming market, and players would be able to find out which sites offer such systems from the safest online casino reviews.
Medical Applications
There are number of initiatives working on ways for blockchain and AI to benefit the medical industry. Using blockchain, companies like Neuromation want to give patients access to their own personal data, such as test results, medical history and genetic profiles. The information will be completely secure but its inclusion on the blockchain network will ensure that patients will be able to easily access it.
Medical professionals can also take advantage of this blockchain-based technology, particularly when it is combined with AI and machine learning. As the blockchain network will have patient files at the ready, AI can analyze this data to look for any health risks and identify preventative treatment options.
Retail Applications
The retail sector is also looking at different ways to harness the power of blockchain technology – with Walmart at the forefront of development. The retail chain is working with IBM to develop technology that will track food globally throughout its supply chain from the farmer all the way to the consumer.
This would help to strengthen food safety precautions, allowing the retailer to track where certain contaminated items originated. For example, over 60 people in Canada and the United States were infected with E.coli in 2017 and officials had differing opinions on where the outbreak began. With Walmart’s new blockchain technology, AI would have been able to identify where the infected goods came from to prevent the disease from spreading to as many people as it had.
