Blockchain is a decentralized transaction and data management technology developed first for bitcoin cryptocurrency.
A digital ledger that keeps record of all transactions taking place on a peer to peer network. It is decentralized, so there is no need of any central certifying authority. Encrypted information can be shared among multiple providers without the risk of a privacy breach.
It represents an innovation in information registration and distribution that eliminates the need for a trusted party to facilitate digital relationships. Authentication and authorization, vital to digital transactions are established as a result of the configuration of blockchain technology.
Private blockchains are deployed either within an organization or shared among a known group of participants. They can be limited to a predefined set of participants. In this case, no one else can access them or the data residing in them. They can be secured in a similar way to securing other integrated enterprise applications (e.g. firewalls, VPN etc).
Blockchain technologies have the potential to radically change the face of industries and redefining the way companies do business. Blockchain eliminates huge amounts of record keeping, which can get very confusing when there are multiple parties involved on a transaction.
Here is why blockchain is attractive, it's distributed nature. In an enterprise, centralized control can translate into security. With blockchain, which is decentralized, the technology works best when information sharing is a necessity across multiple parties.
Artificial intelligence refers to the machine's ability to imitate intelligent human behaviour.
In other words, artificial intelligence techniques are algorithms that try to imitate things that humans do. On the other hand, automated learning is a science and geometry that gives computers the ability to learn without the need for an explicit programmer.
Some examples of AI technologies that are commonly used today include:
*Speech Recognition: Taking audio and working out what the words spoken are.
*Natural Language Understanding: Taking sequences of words and determining the intended meaning.
*Computer Vision: Recognizing objects and understanding the world — to provide sensory input for control of a driverless car, for example.
*Dialogue Management / Conversational AI: Ability to conduct a natural conversation with a user. Taking in the meaning conveyed by the user, thinking, and deciding what to SAY and DO next.
One of the main applications of artificial intelligence is the combination of these technologies (voice recognition, natural language comprehension, dialogue management, etc.) to create intelligent Assistants. Smart Assistants are interactive systems that communicate with people in a natural way and help them access information and perform tasks.
As we currently see with most traditional IVRs, automation is often used to route a customer to the right agent or queue. Moving beyond that, automation can also be used to handle self-service transactions. Here, the best place to start is with high volume transactions that already have the appropriate back office APIs that can be easily integrated with the AI solution. From there, companies should move into areas such as technical support, interactive troubleshooting, and interactive sales.
The Internet of Things (IoT) is a broad term that refers to everyday devices like lights, thermostats, and locks that are able to connect to the Internet and to each other. These connected devices can exchange data and work together, automating tasks that used to be manually performed. By 2020, it is predicted that there will be anywhere between 26 billion to 200 billion devices connected to the Internet.
Cloud. All devices will be connected with each other over the cloud. Experts estimate that there will be around 25+ billion connected devices by 2050. IPv6 has the capability of providing 340 undecillion (i.e. 340,282,366,920,938,463,463,374,607,431,768,211,456) IP addresses for connected devices.
A smart hub is a central device that allows all the different products (lights, locks, thermostats and more) to work together in a smart home. You need not have a hub in a home to use smart devices, but you need one if you want to truly automate the behaviour of the various smart devices in your home.
Yes and No. The concept of machines interacting over the internet has been around for quite some time. The very first practical example was a Coke vending machine in 1999. But, the concept is now on its way to becoming a reality by the availability of IPv6 and fast wireless network protocols.