The New ABC’s: Artificial Intelligence, Blockchain And How Each Complements The Other – Technology

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The terms “revolution” and “disruption” in
the context of technological innovation are probably bandied about
a bit more liberally than they should. Technological revolution and
disruption imply upheaval and systemic reevaluations of the way
that humans interact with industry and even each other. Actual
technological advancement, however, moves at a much slower pace and
tends to augment our current processes rather than to outright
displace them. Oftentimes, we fail to realize the ubiquity of
legacy systems in our everyday lives – sometimes to our own

Consider the keyboard. The QWERTY layout of keys is standard for
English keyboards across the world. Even though the layout remains
a mainstay of modern office setups, its origins trace back to the
mass popularization of a typewriter manufactured and sold by E.
Remington & Sons in 1874.1 Urban legend has it
that the layout was designed to slow down typists from jamming
typing mechanisms, yet the reality reveals otherwise – the
layout was actually designed to assist those transcribing messages
from Morse code.2 Once typists took to the format, the
keyboard, as we know it today, was embraced as a global standard
– even as the use of Morse code declined.3 Like
QWERTY, our familiarity and comfort with legacy systems has
contributed to their rise. These systems are varied in their scope,
and they touch everything: healthcare, supply chains, our financial
systems and even the way we interact at a human level. However,
their use and value may be tested sooner than we realize.

Artificial intelligence (AI) and blockchain technology
(blockchain) are two novel innovations that offer the opportunity
for us to move beyond our legacy systems and streamline enterprise
management and compliance in ways previously unimaginable. However,
their potential is often clouded by…

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