The Potentials of Machine Learning And Blockchain Technology

THE POTENTIALS OF MACHINE LEARNING AND BLOCKCHAIN TECHNOLOGY Machine learning and blockchain have emerged as two transformational technologies. Whether individual or combined, the capabilities of these technologies are immense. Machine learning is a powerful application within Artificial Intelligence that offers systems the capability to learn and develop automatically from experience without having to be programmed explicitly. THE CONVERGENCE OF BLOCKCHAIN AND MACHINE LEARNING AND APPLICATIONS IT PROVIDES IN DIFFERENT SECTORS 1. FINΑNCE The financial sector has always implemented the latest technologies to gain optimum security and data protection. Blockchain has already marked its footing in these industries. With hundreds of cryptocurrencies, blockchain facilitates a wide range of financial operations that can be executed consistently, verifiably, and safely. On the other hand, machine learning works to process a massive amount of data collected by financial institutions. 2. MANUFACTURING Manufacturing companies are now depending on the blockchain-based process as well as smart contracts to facilitate transparency, security, compliance, and production efficiency. Rather than using fixed machine maintenance schedules, today, machine learning predictive algorithms are used to generate flexible plans at accurate times to automate the process. 3. ENERGY AND UTILITIES Today, a blockchain technology service in the energy and utilities sector helps in providing a better exchange of energy. For example, IOTA, a leading energy-centric company, has incorporated blockchain technology to produce and exchange energy in a peer-to-peer manner. 4. FOOD AND LOGISTICS Machine learning and blockchain are used to reduce the challenges associated with the end-to-end supply chain in the food industry by facilitating transparency and accuracy. ML and blockchain provide the possibility to track the sources of food and manage associated financial transactions. SOURCE: HTIPS://WWW.MPHASIS.COM/HOME/SERVICES/BLOCKCHAIN- TECHNOLOGY.HTML