Fusionistic Convergence of AI to Blockchain TechStack - Turning Opportunities into Realities

Authors

  • Paritosh Basu Senior Director (Services) Stragility Consulting Pvt. Ltd., Mumbai

Keywords:

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Abstract

Integration of two or more technologies is not a new phenomenon. Robots are created by integrating four technologies collectively called mechatronics and then made intelligent by adding AI tools. However, the fusionistic convergence of the two titans of the digital world, viz., Blockchain and AI, is not a reality in many cases. New opportunities to maximise value creation and minimise value destruction can be created with the collaborative fusion of the two technologies under the strict drive and supervision of the Smart Contract embedded in any blockchain platform's digital systems. The author has tried to ideate and narrate several such probable application use cases that can be experimented to generate more value with a total focus on ESG and DEI. Specific findings, conclusions, and recommendations of research scholars have also been cited in support of the ideated propositions.

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Published

2024-11-13

How to Cite

Basu, P. (2024). Fusionistic Convergence of AI to Blockchain TechStack - Turning Opportunities into Realities. The Management Accountant Journal, 59(9), 72–77. Retrieved from https://icmai-rnj.in/index.php/maj/article/view/173691

Issue

Section

Digital Transformation

References

Paritosh, Basu, Digital Transformation – A Prismatic View, 2nd Enlarged Edition, The Institute of Cost Accountants of India, June 2024.

Lardi, Kamales, Converging Generative AI With Blockchain Technology, Forbes Council Publication, June 2023. https://www.forbes.com/councils/forbesbusinesscouncil/2023/06/12/converging-generative-ai-with-blockchain-technology/

Mohammad, Sameer Aloun. Synergistic Integration of Artificial Intelligence and Blockchain Technology: Advancements, Applications, and Future Directions. Journal of Applied Systems and Intelligent Data Science, Volume 2, No. 2, 2024

Girija, D. K., Rashmi, M., William, P. and Yogeesh, N., Framework for Integrating the Synergies of Blockchain with AI and IoT for Secure Distributed Systems Conference Paper, Springer Link, July 23, pp 257-267. https://link.springer.com/chapter/10.1007/978-981-99-3878-0_22

Guergov, Shasho and Neyera, Radwan, Blockchain Convergence: Analysis of Issues Affecting IoT, AI and Blockchain, International Journal of Computations, Information and Manufacturing, Volume 1, No. 1, 2021, https://journals.gaftim.com/index.php/ijcim/article/view/48

Singh, Prashant et al., Blockchain and AI technology convergence: Applications in transportation systems, Vehicular Communication, Volume 38, December 2022. https://www.sciencedirect.com/science/article/abs/pii/ S2214209622000687

Odeyemi Olubusola et al., Integrating AI with Blockchain for Enhanced Financial Services Security. Finance and Accounting Research Journal, Volume 6, No. 3, 2024. https://fepbl.com/index.php/farj/article/view/855

Treat, D., and Klein, M., Immersive technology, blockchain and AI are converging — and reshaping our world, The World Economic Forum. https://www.weforum.org/agenda/2024/06/the-technology-trioof-immersive-technology-blockchain-and-ai-are-convergingand-reshaping-our-world/#:~:text=Synergies%20between%20spatial%20computing%2C%20blockchain,of%20these%20three%20tech%20trees.

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