Blockchain, Ma­chine Learn­ing, Ro­bot­ics, Ar­ti­fi­cial In­tel­li­gence And Wire­less Tech­nolo­gies Will Re­shape Dig­i­tal Busi­ness In 2018

Dataquest - - NEWS -

Blockchain, to­gether with ar­ti­fi­cial in­tel­li­gence, ma­chine learn­ing, ro­bot­ics, and vir­tual and aug­mented re­al­ity, have the po­ten­tial to de­liver dis­rup­tive out­comes and re­shape dig­i­tal busi­ness in 2018. And com­pa­nies that have not started the dig­i­tal in­vest­ment cy­cle are at high risk of be­ing dis­rupted.

This is ac­cord­ing to the list of top IT pre­dic­tions for 2018 pub­lished to­day by Di­men­sion Data. But the top trend for the com­ing year is the adop­tion of Blockchain - the tech­nol­ogy be­hind Bit­coin - and its im­mense po­ten­tial to dis­rupt and trans­form the world of money, busi­ness, and so­ci­ety us­ing a va­ri­ety of ap­pli­ca­tions.

Et­ti­enne Rei­necke, Di­men­sion Data’s Group Chief Tech­nol­ogy Of­fi­cer, says Blockchain has gone from strength to strength. “Last year, when we looked at the top dig­i­tal busi­ness trends for 2017, we pre­dicted that cen­tral­ized trans­ac­tion mod­els would come un­der at­tack. We were spot on. In the fi­nan­cial ser­vices sec­tor, we’ve seen the US and Euro­pean cap­i­tal mar­kets mov­ing onto Blockchain plat­forms and sim­i­lar ac­tiv­ity in mar­kets such as Ja­pan. Con­sid­er­ing how con­ser­va­tive and com­pli­ance-fo­cused this sec­tor is, that’s quite re­mark­able.

“It’s ironic that the cy­ber­crim­i­nals who per­pe­trated the re- cent Wan­naCry ran­somware at­tack could hold a fed­eral gov­ern­ment to ran­som and de­mand to be paid in Bit­coin. Bit­coin might be a crypto-cur­rency, but it’s based on Blockchain, and if cy­ber­crim­i­nals are con­fi­dent that Bit­coin pro­vides a safe mech­a­nism for the pay­ment of ran­soms, it in­di­cates just how se­cure the dis­trib­uted ledger ap­proach is. I be­lieve that Blockchain has the po­ten­tial to to­tally re-en­gi­neer cy­ber­se­cu­rity, but the in­dus­try has yet to come to terms with it.”

Rei­necke pre­dicts that Blockchain will also de­liver on the prom­ise of the In­ter­net of Things (IoT) in the year ahead. “In the world of IoT, you’re gen­er­at­ing mil­lions of small trans­ac­tions that are be­ing col­lected from a dis­trib­uted set of sen­sors. It’s not fea­si­ble to op­er­ate these sys­tems us­ing a cen­tral­ized trans­ac­tional model: it’s too slow, ex­pen­sive, and ex­clu­sive. To ex­tract the true value from IoT tech­nol­ogy you have to be able to op­er­ate in real time. Once a sen­sor alert is re­ceived from a con­trol sys­tem you must re­act to it, me­ter it, and bill for it in­stantly – all of which negates the vi­a­bil­ity of a cen­tral­ized trans­ac­tional author­ity. The cost of the trans­ac­tion has to be near-zero or free, and the cost el­e­ments of a cen­tral­ized model sim­ply don’t sup­port the po­ten­tial busi­ness model in IoT,” he ex­plains.

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