Cutting-Edge Technologies: Blockchain Vs Artificial Intelligence (AI)

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Technology is the use of scientific knowledge to design, invent, and monitor equipment that aids an easy way of life for humans. Though it might look like there are some detrimental side effects to humanity due to one reason or the other, all in all, the benefits outweigh the disadvantages when we consider cutting-edge technologies.

The most innovative and leading industries in the technologies are known as the cutting edge and they make use of services that use high techniques and employ high-level and most current information technology to achieve current development. Two major examples of cutting-edge technologies are Artificial Intelligence and Blockchain. These two technologies have proven to improve the efficiency of our daily lives in terms of money transfers and medical practices.

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Blockchain

Purpose of blockchain

Blockchain is a digital platform that receives and records transactions. These transactions are made without a central authority like banks or the government, it has nothing to do with the central repository. Cryptocurrency uses blockchain technology, bitcoin as an example. The main purpose of blockchain technology is to enable information to be recorded and shared without any form of editing. No room to tamper with the document.

The effectiveness

Blockchain technology enables a group of people to keep a record of transactions in a common ledger as a group with the use of electronic fund transfers which is protected cryptographically and also remains untraceable with the central authority. Users just have to sign their accounts and transact with other users while the block records all the transactions which could be viewed by anyone. The good thing about this is that the transactions after being verified remain impossible to alter or forge because of its mechanism. It is said to be economically effective in terms of exchange and banking.

Consequences of the blockchain technology

Even though blockchain could be used to record sensors and human input, it is difficult to determine if that data is reflected in the real world. Just like any other system, it could also malfunction and record inaccurate data so humans operating the system can also record wrong information either intentionally or by mistake. Certifying transactions done by a third party could bring forth some trust issues which shouldn’t be so, trust shouldn’t be an issue in the blockchain network. Having bug-free software is something developers should ensure users about, to make it clear that they are not colluding with anything secretly.

Impact on Human Condition

Blockchain can be used as a mode of payment and also replace the current system of solid waste, the use of paper currency. It would avoid waste through the use of social currency while it saves time by limiting paper trails and promises a better and easier life.

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Artificial Intelligence

Purpose of AI

Artificial intelligence (AI) is a branch of technology focused on creating machines that can perform the tasks that require human intelligence. Just like a replica of human intelligence but in an artificial form. Its purpose is to allow computers and machines to perform tasks like problem-solving, telecommunication, perception, and also decision-making. AI serves different industries and individuals and serves the business, finance, and even the healthcare sectors.

Effectiveness

AI helps industries to improve the efficiency in manufacturing, therefore it provides improved performance in production. It also helps to make critical decisions and produce quality products efficiently and faster. AI is economical in many ways, in the financial sector, it makes it easier to save money since most operations are performed by machines and the computer. There are a lot of other sectors in which AI is found useful, just like it could also predict maintenance while the organization prepares and plans for the maintenance procedures.

Consequences of the Invention of AI

AI is designed to perform some specific tasks and they specialize in a single task, The knowledge they acquire from the data incorporated into them is what they can count on, and are also prone to make mistakes and inaccuracies in their results, but at a lower chance. If there should be a need for additional knowledge then it has to be incorporated separately and this is what makes them far from acting like human beings.

Impact on Human Condition

A lot of technology has been invented to serve human beings but they later turn against us. AI has proven the immunity of humans and also enhanced productivity, accuracy, and efficiency in daily activities. There are a lot more aspects in which AI has come to aid humanity, it serves the purpose of health services for detection and is also capable of assessing and determining medical states.

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Conclusion

In conclusion, cutting-edge technology has improved human life and made it easier. A lot of things could be accomplished within a short time with less stress. In the future cryptocurrencies could function as a common medium of exchange under blockchain technology. It helped reduce the rate of fraudulent activities and also reduced costs in the mode of payment. Although it falls on the bad side of banks and government, it's best as it serves a lot of people. Machines and computers have also produced quality tasks over time and have a higher level of accuracy too.

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_{Image 1 from Pixabay
Image 2 from Pixabay
Image 3 from Pixabay
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