FREMONT, CA – With the emergence of new technologies, organizations are investing in artificial intelligence (AI), blockchain, and the cloud to drive innovation and productivity. AI-based applications are used to automate customer services. Many organizations employ blockchain to establish transparency in the supply chain. Some are even considering moving their core infrastructure into the cloud to enhance storage efficiency.
The investment in innovative projects is mainly driven by the need for breaking down silos, both in the internal business unit and the external entrepreneurial ecosystem. However, innovation projects often lead to the establishment of new silos. Hence there is a need for considering the potential of exponential technologies by leveraging AI, blockchain, and the cloud.
The integration of AI comprising of a centralized control unit and blockchain with a decentralized system seems unlikely. However, there are plenty of approaches which can enable the dynamic interaction between these technologies. In an integrated project, the AI can execute the commands according to the analysis of datasets; the blockchain technology can enable the establishment of a decentralized and transparent system, and the cloud computing can deliver efficient and accessible storage while allowing a seamless decision-making process.
A holistic approach for the incorporation of all three technologies can enable mutual reinforcement, enabling a new range of innovations. The individual advancements in the field often restrict the capability of projects. However, the integration will allow emerging technologies to interact and grow exponentially.
The prime example which incorporates the features of the emerging technologies is Quantum Computing. Many tech giants are upgrading their core technological capability and data to unlock the full potential of emerging technologies. For instance, Ant Financial has launched a BASIC model to enhance its data strategy, where BASIC stand for blockchain, AI, security, IoT, and cloud. The integration of these technologies and the central data driving these technologies form the core of the strategy.
The Michelangelo project of Uber is also an excellent example of the utilization of data. The machine learning-as-a-service (MLaaS) enhances the internal data accessibility of the company to test and deploy models, monitor predictions, and to assess new ideas. The results of these nascent projects show only a glimpse into the potential benefits of integrating emergent technologies. Hence, organizations should focus their innovation projects of the incorporation of these technologies to drive their capabilities.