Machine Learning and Blockchain are the technologies which are the new revolution for the world. They are bringing the greatest impact and are the future for industries. I remember how Blockchain has introduced years ago with cryptocurrencies invention and trading but slowly and gradually has got the new place and picture in technology. Data are being identified easily with different patterns giving great insights. These two technologies are the superpower for the future.
Imagining both together would again be a superpower. Both have different potential to explore data with best of analytics and security as well. Distributed Blockchain is great and proven input for ML which needs data sets to make quality predictions.
Machine Learning and Blockchain are revolutionizing the industries in terms of business models, user experiences and behaviors. This how they are bringing major impact on these industries.
Also Read: A Guide to ADSO Functions in SAP BW4HANA
Manufacturing
Every manufacturing industries have the key values of transparency, security, compliance and so on which can be framed with the help of blockchain as industries are dependent on bitcoin and blockchain based processes with smart contracts to enable better production resulting into great results. Maintenance is now no more headache as they do not need to be fixed planning for machine maintenance schedule as predictive algorithms have made them easy by giving flexible plans and how precisely they can be maintained. With the help of adaptive and computer vision algorithms, it’s been easy to detect the defected goods which easily identifies the defected and separates from other goods. Product testing and Quality control are more to be automated.
Blockchain technology taking care of your security by transferring the industries data more securely and quickly. Machine learning enhancing more to automation by predictive analysis.
Energy and Utilities
Blockchain technology is also playing a major role in the energy and utility sector by helping them with production and consumption in a peer to peer method, more ways of creating sustainable energy resources. For sure transactions plays the major role even for these sectors.
The best example is GE Digital as how they are facilitating of tracking renewable energy in electrical grids and by using blockchain technology for energy sources certificate assurances.
Healthcare
Here blockchain technology is supporting these industries by security or interoperability needs of the connected lives. Blockchain here is the part where it holds connected health(digital) and security of wearables.
Still, there is a great milestone to achieve which is sure would be covered by both Blockchain and Machine Learning for Healthcare industries as these digital transformations has got a lot for them.
Food and Logistics
Blockchain and Machine Learning have benefited these industries as well. From last few years, the picture for supply chain has reduced at least end to end supply chain challenges are been more accurate and transparent. Blockchain-based microfinancing strategy for food vendors has been a great change for the food industries. There are various Machine Learning algorithm giving better insights to them. Giant ventures like Nestle and Unilever are adopting these innovations to deal with wastage and contamination.
Both of these technologies are the future and industries consideration reflects how are they going to chain the business models by the next coming years.
