"Blockchain and artificial intelligence (AI)" refers to the convergence of these two technologies, which brings new value to business through authenticity, augmentation and automation.
Blockchain is a shared, immutable ledger that provides an immediate, shared and transparent exchange of encrypted data simultaneously to multiple parties as they initiate and complete transactions. A blockchain network can track orders, payments, accounts, production and much more. Since permissioned members share a single view of the truth, they gain confidence and trust in their transactions with other businesses, along with new efficiencies and opportunities.
Artificial intelligence (AI) uses computers, data and sometimes machines to mimic the problem-solving and decision-making capabilities of the human mind. AI encompasses the sub-fields of machine learning and deep learning, which use AI algorithms that are trained on data to make predictions or classifications. The benefits of AI include automation of repetitive tasks, improved decision making and a better customer experience.
Explore the 2023 Gartner® Magic Quadrant™ for Finance and Accounting Business Process Outsourcing to see how IBM compares to its competitors.
Register for insights on SAP
Authenticity
Blockchain’s digital record offers insight into the framework behind AI and the provenance of the data that it is using, addressing the challenge of explainable AI. This insight helps improve trust in data integrity and in the recommendations that AI provides. Using blockchain to store and distribute AI models provides an audit trail, and pairing blockchain and AI can enhance data security.
Augmentation
AI can rapidly and comprehensively read, understand and correlate data at incredible speed, bringing a new level of intelligence to blockchain-based business networks. By providing access to large volumes of data from within and outside of the organization, blockchain helps AI scale to provide more actionable insights, manage data usage and model sharing, and create a trustworthy and transparent data economy.
Automation
AI, automation and blockchain can bring new value to business processes that span multiple parties — removing friction, adding speed and increasing efficiency. For example, AI models embedded in smart contracts that are executed on a blockchain can take the following actions:
- Recommend expired products to recall.
- Execute transactions — such as re-orders, payments or stock purchases based on set thresholds and events.
- Resolve disputes.
- Select the most sustainable shipping method.
Across industries, bringing AI into blockchain delivers new opportunities
AI can help advance almost every field in healthcare, from surfacing treatment insights and supporting user needs to identifying insights from patient data and revealing patterns. With patient data on blockchain, including electronic health records, organizations can work together to improve care while protecting patient privacy.
Blockchain and AI in the pharmaceutical industry can add visibility and traceability to the drug supply chain while dramatically increasing the success rate of clinical trials. Combining advanced data analysis with a decentralized framework for clinical trials enables data integrity, transparency, patient tracking, consent management and automation of trial participation and data collection.
Blockchain and AI are transforming the financial services industry by enabling trust, removing friction from multiparty transactions and accelerating the speed of transactions. Consider the loan process. Applicants grant consent for access to personal records stored on the blockchain. Trust in the data and automated processes for evaluating the application help drive faster closings and improve customer satisfaction.
By digitizing a largely paper-based process, making the data shareable and trustworthy, and adding intelligence and automation to execute transactions, AI and blockchain are transforming supply chains across industries and creating new opportunities. For example, a manufacturer can track carbon emissions data at the product or parts level, adding accuracy and intelligence to decarbonization efforts.
Read the blog on getting started in healthcare
Read the blog on trade finance and blockchain
IPwe created the Global Patent Registry (GPR), the world’s first blockchain-powered patent platform to manage intellectual property, increasing visibility and flexibility for both buyers and sellers.
Blockchain technology from IBM Food Trust and powerful AI from the IBM Watson Decision Platform for Agriculture are improving farm-level decision-making and speeding transactions.
Join blockchain networks that are already transforming industries by bringing revolutionary trust and transparency to supply chains, global trade, international payments, our food supply and much more.
Co-create with the industry’s leading blockchain services provider. Build a scalable business network that is underpinned by the best technology.
Wherever you are in your blockchain journey, IBM Blockchain® can meet you there. Join an existing network, build your own, co-create with us, or partner with others — to turn your enterprise goals into business reality.
Create intelligent workflows that use AI, data and analytics and turn AI aspirations into tangible business outcomes.
Transform your container logistics by freeing it from legacy data systems, manual document handling and poor visibility.
Remove friction, build trust and unlock new value across businesses and industries with the power of IBM Blockchain. Let's resolve challenges together.
Learn how healthcare organizations are using AI solutions to inform decisions and improve experiences with data.
Read how blockchain is helping an IBM customer solve the issue of data integrity in artificial intelligence.
Choose your topics from dozens of blogs, with valuable conversations, stories and opinions from the across blockchain community.