Blockchain and AI working together is a serious game-changer for both the future and current world of innovation. It allows us to transition to a society that values innovation, consumer flexibility, universal basic income, and flexible microwork. Conventional frameworks were replaced with web2 systems, opening up markets, companies, and employment prospects. Similar to this, AI together with blockchain are guiding us to yet another, highly promising road.
Certainly, it might be frightening to consider that one’s career may become outdated as a result of technological advancement. It’s only normal for individuals to experience anxiety in the midst of change. You can be confident that such innovations are producing both possibilities and difficulties aplenty.
Such changes leave us wondering what the future brings. How shall we proceed? And whether unemployment or injustices would continue to exist?
Is there an Upward side of AI and blockchain?
Despite doubters, tech has produced plenty of employment opportunities and currently accounts for 10% of US GDP. Different sectors around the globe are projected to see faster growth thanks to AI. According to PwC’s Annual Global CEO Study, 63% of CEOs certainly think that AI will certainly have a greater effect than the internet.
AI may well not result in a significant increase in poverty. This is despite the fact that Fourth Industrial Revolution technology will continue to significantly alter how people live. Instead, the use of AI will result in much more job creation than automated. These freshly created occupations will demand valuable skills, making substantial investment in both young people and adults’ gaining skills or retraining necessary. But in order to confront this change and accept the advantageous social effects of AI, governments and companies must cooperate.
In a number of industries, like entertainment and financing, AI itself has indeed demonstrated its value. In contrast, blockchain technology has given rise to completely new commercial concepts, including digital currencies and consensus mechanisms. These technologies have the power to provide ground-breaking innovations such as identity management signature schemes devoid of a centralized government and much more.
The true strength comes from their complex formation when coupled into comprehensive systems that enable businesses to tackle world issues and provide previously unheard-of benefits like cost savings or the elimination of redundant processes or products. Several expert concur that when using this idea in various settings that have never been explored earlier, the prospects appear limitless.
Without a doubt, we are living in an exciting time thanks to technological advancements such as AI and Blockchain that work together to open the door for creative ventures.