Blockchain SolutionsBlockchain for Digital Transformation
Blockchain + AI + IoT + Analytics + Done Right = Digital Transformation
Do more with blockchain by integrating it with Artificial Intelligence, Internet of Things, and Big Data Analytics to fuel your digital transformation journey.
Most of the blockchain use cases and enterprise blockchain projects that are currently underway, are trying to use blockchain in place of their existing databases and processes. Some of these projects hold a lot of promise and can yield tremendous benefits for participant organizations when commercialized. However, many projects are also being stalled and shelved due to the realization that investing in a new technology, for insignificant incremental efficiency or cost saving will not generate an adequate return on investment. Nonetheless, these stalled and shelved projects will all contribute to the learning associated with any new technology adoption.
However, there is an alternate way of looking at this technology that can yield a much better return on investment, can take the industries forward and may even disrupt existing business models in an industry. Blockchain has some unique features that are not present existing database and transaction systems, and therefore the best use of this technology is for building systems that are designed to do more than current systems. The good thing for CIOs is that there are a few other emerging technologies that possess unique properties that are missing in traditional enterprise IT systems. Some of these technologies are the Internet of Things, Artificial Intelligence, and Big Data. Now, if we look at the unique benefits of these technologies together, beyond the obvious efficiency and cost saving, this is what CIOs have on their platter.
- Blockchain that offers unparalleled immutability, extremely high security and trust in transactions.
- Internet of Things that offers rapid M2M communication and unparalleled efficiency.
- Artificial Intelligence that offers unparalleled automation and accuracy.
- Big Data that enables unparalleled insights and prevent frauds.
The best return on investment on their technology investments can only be derived by the CIOs who understand their customers and their business challenges and can knit together technology solutions using the right mix of the above technologies. And by the way, this is also called – what CEOs and boards love to hear – digital transformation.
The good thing is that there are several enterprise projects where a combination of these technologies is being used, and we can help you get a closer look at these projects.
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