Business

Reading
Report
How Businesses are Adopting
Block chain Technology & Artificial
Intelligence?

Arshit Agarwal (BM-018064)

[PGDM BATCH 2018-2020]
 Conclusion:
After going with the news, research articles and case study given in research
atricle, a conclusion can be drawn that Blockchain Technology is one of the
most secure technology that is available currently in the market. However to
implement it completely many researches has to be done yet and
infrastructure is needed to be set up. The reasons why businessses are
adopting this technology are secure due to its decentralized structure, as
hackers will not have a central attack area, cheap as it is based in peer to peer
networks. It can also be said that blockchain technology is not only for
cryptocurrencies but it can be used in many other ways too. One of the finest
use can be implemented in Voting Machines and Supply Chain Management.
Use of this technology is very less in hands of common man but it is expected
that it will be future of banking transaction system.

Now as we know Artificial Intelligence is already on boom in the current

market scenerio, investments are made continuously to absorb its advantages.
Most common use of AI I find is integrating it in Personal Assistants and
Robots. Another common use I found of AI recently is in developing tools that
can predict health related issues. For example ‘Deepmind’ a Google subsdiary
firm has invented a tool that can predict 50 eye issues. Use of this technology
is increasing rapidly and even common people are interacting with this
technology nowadays.
 Contents
Introduction 1

What is Blockchain Technology? 2

What is Artificial Intelligence? 2

News Articles to support the research work 3-10

Research Paper 1 [Blockchain and Artificial Intelligence by 11-20

Tshilidzi Marwala and Bo Xing]

Research Paper 2 [Blockchain: The Next Breakthrough in the 21-32

Rapid Progress of AI]

Conclusion 33
Introduction:

In this report I have discussed about two technologies ( Blockchain Technology

and Artificial Intelligence ) which are highly accepted by the businesses these
days and always remains topic of discussion. Businesses are investing huge funds
to use and improve these technologies.

Blockchain technology is known for its security and Artificial Intelligence is

known for its smartness. What if we combine both? Yes, technical companies
these days are working to make blockchain technology and artificial intelligence
work together. Huge investments are being made and various researches are
being done to know its applicability in different fields. Smart homes have been
planned in many countries by the use of these two technologies. Personal
Assistants are also developed by the use of AI to improve their user interaction.

Some latest news on how businesses are taking these technologies into
consideration and how they are going to use them has also been discussed in
this report.
 What is Blockchain Technology?
 Introduction:
Blockchain is a chain of blocks that contains information. This technique
was originally described in 1991 by the group of researchers and it was
originally intended to timestamp the digital documents so that it’s not
possible to backdate them, Almost like a notary. However it went by
mostly unused until It was adopted by Satoshi Nakamoto in 2009 to
create digital cryptocurrency Bitcoin.
 Working:
A blockchain is a distributed ledger that is completely open to anyone. It
has an interesting property: once data has been recorded inside a
blockchain, it becomes very difficult to change it. Each block in blockchain
contains some data, hash of the block and hash of the hash of previous
block. The type of data which is present inside the blocks depends on the
type of blockchain. For example: Bitcoin blockchain contains the name of
sender, receiver and amount of coins.
Each block in a blockchain has unique hash, which identifies the block and
all of its contents. Once block has been created its hash is calculated.
Changing something inside the block will cause the hash to change.
Blockchain is more secure because it is based on peer to peer network
and everyone is allowed to join, instead of creating central entity to
manage chain. In other words distributing data without being copied.
New entrant to blockchain gets full copy of blockchain. So hackers do not
get any central point of attack. Once a single block is tampered it never
gets verified by other peers which protects blockchain from being
tampered.

What is Artificial Intelligence?

 AI (artificial intelligence) is the simulation of human intelligence processes
by machines, especially computer systems. These processes include
learning (the acquisition of information and rules for using the
information), reasoning (using the rules to reach approximate or definite
conclusions) and self-correction. Particular applications of AI include
expert systems, speech recognition and machine vision.
This News article has been taken from The Economic Times - Bangalore, Monday, August 27, 2018.
The Economic Times - Bangalore, Tuesday, August 28, 2018.
A newly-launched restaurant in the Nepalese
capital is using robots as waiters under the
slogan, “where food meets technology”.
The Naulo Restaurant (“naulo” means new
in Nepali) operates with the help of five
robots, three named Ginger and two named
Ferry, designed and manufactured by Paaila
Technology, a Nepali company established
by six young engineers, specializing in robotics and artificial intelligence (AI) technology,
Xinhua news agency reported on Saturday.
“Naulo is the first digitalized robotic restaurant not just in Nepal, but also in South Asia.
We believe that our robot is one of the most advanced service robots in the world which
is user friendly and very easy to operate,” Binay Raut, CEO of Paaila Technology and Naulo
Restaurant, told Xinhua.
The restaurant has a menu implanted in digital screens on tables from where orders can
be placed directly to the kitchen. After the dishes are ready, the robots collect them from
the kitchen counter and serve the customers. This is the first time in the Himalayan
country that a restaurant has used “Made in Nepal” robots as servers.
Raut, 27, who completed engineering studies in India and the UK, said: “We travelled to
different countries including China and Japan to learn about the design, framework and
operation of robots before launching it in Nepal. Now, our target is to introduce this
Nepali innovation in the international market.”

Robot Ginger is powered with swarm intelligence, speech recognition, natural language
processing, auto-dock ability, among others. The robot also cracks jokes and answers
basic IQ questions in both English and Nepali.
The Times of India - Mumbai, Saturday, August 25, 2018.
The Times Of India - Mumbai, Tuesday, August 7, 2018.
Say hello to Android 'Pie'; new version rolls out on Google
Pixel phones
ECONOMIC TIMES WEBSITE | UPDATED: AUG 07, 2018, 11.44 AM IST