An Overview of the Applications of Blockchain and AI in Business

Abstract

One way that the various business operations could be enhanced as a result of the increasing firm evolution and the most recent Artificial Intelligence is the capacity to create new forms of cooperation (AI). The supply of brand services and even some innovative types of employee and consumer interactions in the workplace are made possible by these rapidly evolving technologies. Because to AI digitization, businesses were simultaneously pushed to focus on their current strategies and actively look for new market opportunities on a regular basis. Although increasing emphasis is being paid to digital technology research in the context of corporate innovation, blockchain technology can safeguard data privacy.BI-AIBT, or business innovation based on blockchain technology and artificial intelligence, is presented in this study with the goal of enhancing business operations and maintaining safe client interactions. Two distinct business sectors comprise a limited number of significant respondents for the collection of qualitative empirical data. BI-AIBT has been examined by contrasting and comparing the ways in which digitization has impacted proposals, business capture, and value development. Concerns about business effectiveness and employee relations can also be resolved with BT's assistance. The experiment's findings demonstrate how digital transformation—which is widely regarded as essential—strengthens business innovation efforts. The numerical result supplied by BI-AIBT improves the ratios for customer behavior analysis (96.3%), customer satisfaction (97.2%), product quality (98.3%), firm development (98.9%), and demand projection (97.1%). Blockchain and artificial intelligence (AI) are the two disruptive technologies of the Fourth Industrial Revolution (IR4.0) that have significantly altered the market.