Bitcoin and blockchain technology are two of the most prominent innovations that have come from the Internet of Things (IoT) revolution. That’s only natural – IoT is enabling a new era of digital transformation that has global implications. Artificial intelligence, specifically machine learning and deep learning, is playing an increasingly important role in shaping this transformation.
AI is already having a substantive impact on almost every sector and industry segment. From homes to financial institutions to retail chains, AI is already reshaping our world at an accelerating pace. Here’s why artificial intelligence is positively impacting Bitcoin and the future of money:
AI Helps Create More Trusted, Secure and Transparent Applications
As we’ve seen with some of the most popular IoT devices, such as smart home devices, cyber security issues are becoming a concern for people across the globe. AI can help address these issues by creating more trusted, secure and transparent applications. AI is being used to create algorithms to recognize and respond to user actions, such as the “ 123456 ” series of numbers displayed on a connected television, or the “ OK ” or “ Thanks ” gesture displayed on smartphones when making a Bitcoin payment on Crypto Engine or any other trading platform.
AI Helps Build Better B2B Marketing & Advertising
Artificial intelligence has been tremendously successful at creating new and useful applications for the Internet of Things. From self-driving cars to smart homes with AI that can help you schedule a plumbing service when you’re not home, AI has done wonders for the smart home and the IoT.
With the potential to disrupt industries and create new business models, AI has created a plethora of new applications, industries, and applications that will never be seen the same way again. AI is helping to create more trust, security and transparency with every passing day.
AI Is Creating New Opportunities for Blockchain Technology
Beyond IoT, which largely consists of static data, the next major stage in the evolution of the Internet of Things is going to be the so-called “connected city.” In the “connected city,” data generated by IoT devices will flow through AI and then human-friendly software to create more intelligent decisions based on the data. More specifically, this is the future of blockchain technology.
AI Is Driving the Future of Virtual & Augmented Reality & Remote Control
Beyond AI’s impact on real estate and financial sectors, the technology is also set to reshape other industries. AI is making its mark in the world of entertainment, with standpoint being one area that will likely be impacted – gaming. Big data and AI-based game-playing are the foundations for creating “VR” and “AR” experiences, which can be as immersive as watching a movie, or as realistic as model-building games like 3D printing.
AI and the Future of Money
Beyond the overwhelming impact that AI has had on our everyday lives, it’s also having a momentous impact on our money system. Here are just a few of the ways:
1. More trusted financial products and services. In the age of AI, financial institutions are trying to distinguish themselves by creating more trustworthy financial products and services. AI can help create more reliable predictions financial well-being of customers, and allow financial institutions to build better relationships with their customers. This, in turn, will result in higher customer satisfaction, as well as more frequent and larger payments.
2. More transparent and efficient government. In the same vein, political leaders and public figures are starting to realize the importance of being more transparent with their constituents. AI can analyze large volumes of data, such as the content and comments made by political figures and leaders, and use that data to generate more accurate and timely predictions.
3. Digital currency. Beyond all of this, AI is having a momentous impact on the digital currency landscape as well. AI can create algorithms that can consistently provide “real-time” value while serving as the foundation for Bitcoin. With this in mind, we can expect to see more use of AI in the financial sector, where it would add even more value and improve upon the already-excellent B2C model.
Artificial intelligence is having a momentous impact on almost every aspect of our lives. It’s transforming the way we interact with technology and changing the way we see the world. In many ways, AI is creating the future of money: sensors, microcomputers and camera work, headed by powerful supercomputers, all working in tandem to create a trustworthy and AI-based decision-making engine. While the impacts of AI are bound to be positive in every aspect of our lives, the most incredible impact has to be witnessed in the financial sector. With AI, we can expect to see more use of data-driven decision-making, and improved financial literacy, which will have a cascading effect on the entire economy.