Blockchain and Artificial Intelligence: The World Rewired

266 Pages·2021·1.256 MB·English

by  Tom James (editor)

BlockchainandArtificialIntelligence

Blockchain and
Artificial
Intelligence
The World Rewired
Edited by
Tom James
ISBN978-3-11-066114-9
e-ISBN(PDF)978-3-11-066445-4
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Preface
Overthecenturiestherehavebeenkeydefiningmomentswherejumpshiftsintech-
nologysuddenlyopenedupnewopportunitiesforthehumanraceorchangedhow
weinteractedwithourworld.
Thisbooktakesalookathowtheemergenceoftwosuchtechnologies–artificial
intelligence (AI) and blockchain – is already starting to redefine how the world
aroundusworksandhowthatworldinteractswithus.
Thefirsttimethatthetwowords“Artificial”and“Intelligence”wereputtogether
wasonthe31stofAugust1955,whenProf.JohnMcCartyfromtheUniversityofDart-
mouth,togetherwithM.LMinsky,N.RochesterandC.E.Shannon,askedtheRock-
efellerfoundationtofundasummerofresearchonArtificialIntelligence(AI).
Artificial intelligence is any task performed by a program or machine, which
would otherwise require human intelligence to accomplish it. It is the science and
engineeringof makingcomputersystemsdemonstratehuman-likeintelligence,es-
peciallyvisualperception,speechrecognition,decision-making,andtranslationbe-
tweenlanguages.
There are two types of AI, General AI and Narrow AI. We are still currently
experiencing Narrow AI – AI programs capable of solving one specific problem.
GeneralAIisstillworkinprogress;itcanbedefinedasanartificialintelligencepro-
gramcapableoftacklingeverykindofproblemitispresentedwith.Thisissimilar
toanextremelypowerfulhuman,andyoucanthinkofitastherobotfromTermina-
tor(buthopefullyapeacefulversionofit).
AIhas alreadyaffected our lifestyle eitherdirectlyorindirectly and isshaping
the future of tomorrow. It has become an intrinsic part of our daily life and has
greatlyimpactedourlifestylewiththeincreaseduseofdigitalassistantsonmobile
phones,driver-assistancesystems,chatbots,textsandspeechtranslators,andsys-
temsthatassistinrecommendingproducts,services,filmswewatch,musicwelis-
tentoandcustomizedlearning.
Thesecondtechnologyaddressedinthisbook,thatofblockchain,isperhapsbest
known for “Bitcoin” and other crypto currencies like “Ethereum” but separate to its
application as a currency of exchange, the underlying technology called Blockchain,
theprogramminglanguageifyoulike,thatmakesitallpossible,isinitselfaverypow-
erfultoolwithmanyapplicationsinthefinancialservicesindustryandelsewhere.
Althoughthemechanicsofblockchainareextremelycomplex,thebasicideais
simple:todecentralizethestorageofdatasothatsuchdatacannotbeowned,con-
trolledormanipulatedbyacentralsystem.Itgivesthepotentialtocreateblocksof
data, that are irrefutable, immutable, and so can be trusted as they are spread
across anetwork ofcomputersmakingit farharderto hack orattackmultiplesys-
tems and change the data on all of them. Because of this decentralized nature, it
providesaveryhighlevelofsecurityfordata.
https://doi.org/10.1515/9783110664454-202
VI Preface
Thistechnologycouldchangethewaythatownership,privacy,uncertaintyand
collaborationareconceivedofinthedigitalworld,disruptingsectorsandpractices
as diverse as financial markets, content distribution, supply chain management,
thedispersalofhumanitarianaidandevenvotinginageneralelection.Thisiswhy
thefieldofblockchainintheITsectorisgrowingveryfast.
Blockchaintechnologyprovidesoneofthemostsecureandsafeonlinetransac-
tionsandhasshakeneveryindustry.Duetoitsnumerousbenefits,manycompanies
andprofessionalshavestartedtoadoptblockchaintechnology.Itisestimatedthat
blockchain technology has already been adopted by more than one-third of the
companiesintheworld.
Blockchaintechnologyisverytransparentaseverythingisvisibletoallthepar-
ticipants from the beginning. This reduces the chance for any kind of discrepancy
inthesystembecausenothingishidden.Itisalsoconsideredthemostreasonable
intheworldfromacostperspectivetousefordevelopingsolutions,withalotofthe
languagesfreelyavailableasopensourcefordeveloperstouse.Ifonecomparesit
with traditional software development models, it is a lot less expensive and many
companies are now looking to take advantage of this fact and save costs in their
economicmodel;itisstartingtoproveespeciallybeneficialforthebankingandfi-
nancialindustry,somethingwelookatinthisbook.
The most obvious area where AI and blockchain have already had a huge im-
pactisinformationtechnologyoperations,buttherearemanyareaswheretheyare
already changing how businesses interact with us as human beings. Having re-
searchedthekeybusinessareaswherethetwotechnologiesarehavingacombined
impact for this book, I selected the most interesting areas which are touching the
vastmajorityofourworkingandprivatelifeinsomeway.Forexample,theaccount-
ingindustrywhereAIisalreadyrevolutionizingtheanalysisofwhatisusuallyabig
dataproblem;maritimeandshippingwhereblockchainandAIarehelpingthedoc-
umentation that moves commodities and vessels around the world and analysing
weather patternsand routing of vessels; human resourcesin selecting and finding
thebestcandidatesfromthousandsofresumes;marketingwithtargetedadvertising
andinformation.Thislistgoeson;manyoftheareaswhereAIandblockchainare
touchingourlivesalreadyaresubtleandsoIhopeyouwillenjoyreadingthisbook
and find it a useful eye opener to the applications and developments in AI and
blockchainthatareimpactingtheworldwelivein.
TomJames
Acknowledgments
A huge thanks must go to my editorial and research team which includes my son
KirenChong-JamesintheUK,AdityaKumarinIndia,andJustineButlerintheUK.
Yourdedicationtotheprojectandsupportwasinvaluable.Thankyou!
Imustalsogiveamassivethankyoutoallofmyfamilywhoencouragedmeto
keep pushing on with this book project despite the many difficulties and delays
causedbytheCovidlockdownsaroundtheworld.
Lastbut certainlynotleastIwouldlike todedicate thisbookto myoldschool
friend, Andrew Fox, who sadly passed away well before his time during the Covid
Pandemicin2020.Hispassionforcomputerswhenweattendedschooltogetherin-
spiredmetostartlearningcomputerlanguagesandworkwiththemsincetheearly
1980s.
https://doi.org/10.1515/9783110664454-203

Contents
Preface V
Acknowledgments VII
TomJames
Chapter1
Marketing 1
ArtificialIntelligence 1
Blockchain 16
FurtherReading 26
TomJames
Chapter2
Sales 29
ArtificialIntelligence 29
Blockchain 40
FurtherReading 48
TomJamesandKirenChong-James
Chapter3
ITOperations 49
ArtificialIntelligence 49
Blockchain 61
FurtherReading 68
AdityaKumar
Chapter4
HumanResources 71
ArtificialIntelligence 71
Blockchain 83
FurtherReading 93
TomJamesandAdityaKumar
Chapter5
ContactCenters 95
ArtificialIntelligence 95
Blockchain 107
FurtherReading 113
X Contents
TomJamesandAdityaKumar
Chapter6
BuildingMaintenance 115
ArtificialIntelligence 115
Blockchain 124
FurtherReading 132
TomJamesandKirenChong-James
Chapter7
Manufacturing 133
ArtificialIntelligence 133
Blockchain 144
FurtherReading 155
TomJames
Chapter8
FinanceandAccounting 157
ArtificialIntelligence 157
Blockchain 168
FurtherReading 176
TomJames
Chapter9
CustomerExperience 177
ArtificialIntelligence 177
Blockchain 189
FurtherReading 196
TomJamesandKirenChong-James
Chapter10
MaritimeInnovation 197
ArtificialIntelligence 197
Blockchain 210
FurtherReading 220
TomJames
Chapter11
TheComingRevolution 223
ArtificialIntelligence 223
Blockchain 234
FurtherReading 239