The digital revolution has altered technological disruption from a once-in-a-lifetime event to a constant process. Each new emerging technology represents a new wave of opportunities. And always combining different types of emerging technologies onto various sectors into a single product area gives rise to many markets opportunity. It is only due to the advent of AI that software can offer a highly personalized service to the end-users. With the inception of AI, the high-powered mining algorithm has made life much more comfortable. Blockchain and AI individually are established to a great extent. And their combination can also be highly beneficial to industries of various types.

Industry 4.0: It belongs to the era of convergence of emerging technologies.  

Facts: It is believed that 90 per cent of the world’s data was generated in the last 2-3 years, and now PwC predicts that by 2030, AI alone will add up to $15.7 trillion value to the world economy. This suggests that Data, Partners and Value are three important constituents to enable Trust, Transparency and Traceability in any business, each holding its importance to be secured and protected for better decision making. 

Role of Blockchain: Blockchain has been increasingly used to register, authenticate and validate assets and transactions, govern interactions, record data and manage the identification among multiple parties in a trusted, decentralized, and secure manner. The associated Encryption technology ensures that the original information is consistent, thereby preventing the provision of false information that can mislead its involved counterparts. 

On the other hand, the development of AI is dependent on data, and Blockchain is the technology that allows for encrypted data to be stored in a reliable, distributed ledger. Blockchain can make data more coherent and understandable, helping trace and determine the logic behind the algorithmic decision-making process.