Unlocking Industry Potential Through the Convergence of AI and Blockchain Technologies
AI and blockchain technology might make many sectors safer, more open, and more efficient. It proposes an autonomous AI-based solution that leverages blockchain and machine learning to address industry issues including theft, data security, and inefficiency. The recommended response utilizes AI to track patterns and estimate what they are. Additionally, blockchain smart contracts ensure data exchanges remain secure and unchangeable. We tested the paradigm in banking, healthcare, and supply chain management. Transaction speed, data quality, fraud reduction, and operational efficiency were the main success factors. The findings showed 32% less theft, 45% better data accuracy and security, and 28% higher company efficiency. Process latency was 20% lower than in centralized systems. The findings suggest that AI with blockchain may simplify decision-making, data security, and operations. It may be an excellent choice for firms looking to profit from the digital shift.
Authors
- Krishna Murthy Meesaala (ORCID: https://orcid.org/0000-0001-8989-8862)
- Maher Ali Rusho
- Vandana Rathore (ORCID: https://orcid.org/0000-0001-7815-6513)
- Rajiv Avacharmal
- R. Senthil Kumar
- Sudipta Halder
Institutions
- Lockheed Martin (United States) (US)
- University of Connecticut (US)
- Jawaharlal Nehru University (IN)
- Jagran Lakecity University (IN)
- Saveetha University (IN)
Publication Details
- Published
- 2024-12-06
- DOI
- https://doi.org/10.1109/ihcsp63227.2024.10959944
- Primary Topic
- Digital Transformation in Industry
- Type
- article
- Field-Weighted Citation Impact
- 0.00