Use of AI and Blockchain in IoT

While IoT is quite impressive, it really doesn’t amount to much without a good AI system. Both technologies need to reach the same level of development in order to function as perfectly as we believe they should and would. Scientists are trying to find ways to make more intelligent data analysis software and devices in order to make safe and effective IoT a reality. It may take some time before this happens because AI development is lagging behind IoT, but the possibility is, nevertheless, there. Integrating AI into IoT networks is becoming a prerequisite for success in today’s IoT-based digital ecosystems. So businesses must move rapidly to identify how they’ll drive value from combining AI and IoT—or face playing catch-up in years to come. Many experts believe that Blockchain technology is the missing link to settle security, privacy and reliability concerns in the Internet of Things and could perhaps be the silver bullet needed by the IoT industry. It can be used in tracking billions of connected devices, enable the processing of transactions and coordination between devices; allows for significant savings to IoT industry manufacturers. This decentralized approach would eliminate single points of failure, creating a more resilient ecosystem for devices to run on. The #cryptographic algorithms used by Blockchains would make consumer data more private.