Book Image

Practical Artificial Intelligence and Blockchain

By : Ganesh Prasad Kumble
Book Image

Practical Artificial Intelligence and Blockchain

By: Ganesh Prasad Kumble

Overview of this book

AI and blockchain are two emerging technologies catalyzing the pace of enterprise innovation. With this book, you’ll understand both technologies and converge them to solve real-world challenges. This AI blockchain book is divided into three sections. The first section covers the fundamentals of blockchain, AI, and affiliated technologies, where you’ll learn to differentiate between the various implementations of blockchains and AI with the help of examples. The second section takes you through domain-specific applications of AI and blockchain. You’ll understand the basics of decentralized databases and file systems and connect the dots between AI and blockchain before exploring products and solutions that use them together. You’ll then discover applications of AI techniques in crypto trading. In the third section, you’ll be introduced to the DIApp design pattern and compare it with the DApp design pattern. The book also highlights unique aspects of SDLC (software development lifecycle) when building a DIApp, shows you how to implement a sample contact tracing application, and delves into the future of AI with blockchain. By the end of this book, you’ll have developed the skills you need to converge AI and blockchain technologies to build smart solutions using the DIApp design pattern.
Table of Contents (15 chapters)
Section 1: Overview of Blockchain Technology
Section 2: Blockchain and Artificial Intelligence
Section 3: Developing Blockchain Products

Applying AI and blockchain to financial services

The BFSI is the backbone of the economic operations of the whole world as we know it. With trillions of dollars of assets under management, managing money effectively at a digital scale has become a lucrative opportunity and hence needs to be revisited due to some inefficiencies in the current systems that generally rely on traditional methods.

The following diagram depicts the relationship between stakeholders in the BFSI industry:

Fig 3.3: Stakeholders in BFSI

As shown in the preceding diagram, public consumers like you and me access capital and services through banks, insurance companies, and Non-Banking Financial Companies (NBFC). Also, note that companies and organizations that provide services to us also rely on these financial institutions.

Now, let's explore some of the issues faced by the BFSI industry.

Issues in the domain

The following are the top three issues faced by the BFSI industry:

  • Access to capital: The unbanked...