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Blockchain Technology could play important role in Automation Revolution, says Scott Helfstein
Role of Blockchain Technology in Automation and Digitalization
According to Scott Helfstein, head of thematic solutions at Global X ETFs, blockchain technology could play an essential role in securing information and facilitating data management during the ongoing automation revolution. In an interview with CNBC Pro at the VISION conference, Helfstein added that blockchain technology offers a transparent and auditable solution to identify where information is coming from in some algorithms.
The Importance of Blockchain Technology in the AI Industry
Despite several levels of Artificial Intelligence (AI) development, including infrastructure providers like semiconductor companies and graphic chip makers, and algorithm providers like OpenAI and its ChatGPT, blockchain technology is a common denominator across all levels. It offers an efficient way to secure information fed into AI algorithms, making it the future of the industry.
Corporate Investment in Automation
Corporate investment in automation is increasing. According to Helfstein, blockchain technology will play a critical role in its development. He said that although crypto is fascinating, blockchain technology will be more widely accepted and adopted in the corporate world. Helfstein added that private blockchains could serve as stepping stones for the broader acceptance and adoption of crypto.
The Future of Cryptocurrencies Like Bitcoin and Ethereum
As people interact with private blockchains, they will see some of the benefits of private blockchains that support public blockchains like bitcoin and Ethereum. These public blockchains are being used in Web 3.0 applications. Helfstein believes that the use case of blockchain technology in the automation industry will encourage broader acceptance and adoption of cryptocurrencies.
Overall, blockchain technology is gradually becoming a crucial part of various sectors, particularly in the AI industry and automation revolution. Its transparency and security features are highly valued, increasing its adoption rate across different industries.
In conclusion, it is evident that the utilization of blockchain technology in the automation revolution and AI industry has a tremendous impact on various sectors. As corporate investment in automation increases, it is only a matter of time before it becomes an essential aspect for any business looking to remain competitive. The transparency and security offered by blockchain technology in managing data and securing information is a highly valued aspect. It provides an efficient way to ensure the accuracy and authenticity of different algorithms and data fed into AI algorithms, making it the future of the industry.
For any new business, implementing blockchain technology is a crucial step towards achieving industry standard compliance and ensuring the safety of data. It proves to be an excellent way to maintain a high level of transparency, which can provide customers with greater trust in a new company. The automation revolution is gaining momentum, and the use of blockchain technology is essential for businesses looking to scale and remain competitive in this rapidly changing landscape. The increased adoption of blockchain technology in the corporate world may also serve as a stepping stone for broader acceptance and adoption of cryptocurrencies. Overall, the impact of blockchain technology is undoubtedly significant, and businesses that choose to implement it will undoubtedly enjoy the numerous benefits it offers.