Smart contracts are in the blockchain ecosystemComputer
programs that can monitor all aspects of an agreement. This makes them a secure
and more automated alternative to traditional contracts. As a growing ecosystem
of legal and guiding frameworks place higher demands on organizations to
provide improved governance, there is a growing need for robust mechanisms to
protect privacy and data. Blockchain solutions are used as validation tools to
create mechanisms that connect digital assets to the physical world by
automatically feeding external data into systems. This slant reduces or even
eliminates the reliance on hominid data entry, which is often prone to error
and fraud.
5G
5G, the fifth generation of cellular technology, was
developed to increase connectivity speed, reduce latency, ensure high
availability and offer enormous network capacity. 5G connects people, devices
and machines with one another. 5G takes cellular connectivity to the next flat
by using virtualized and software-controlled networks that use cloud
technology. 5G's promise to reduce latency can improve the performance of
digital processes, from online gaming to video conferencing to self-driving
cars.
By combining 5G with Artificial Intelligence (AI) and
Machine Learning (ML)reaction times are reduced to a fraction of a second,
which can cruel the difference between life and death in self-driving cars. In
the healthcare industry, 5G enables patient monitoring via wearables that
constantly provide data on key health indicators such as heart rate and lifeblood
pressure. With the promise of low latency, it is possible for surgeons to
control their instruments and perform operations remotely. Manufacturing will
benefit enormously with 5G due to the fast connectivity required for devices
connected to the IoT. The 5G network infrastructure can transport the enormous
amounts of data generated by these devices.
AIoT
Artificial Intelligence (AI) and IoT are technologies that
aim to make machines more intelligent. IoT generates large amounts of data and
AI processes and analyzes this data in order to gain insights and to be able to
make decisions. AI can be believed of as the brain in this context, while IoT
is the large, expansive nervous system that produces information.
By implementing AIoT, aggregated information
from sensors can be monitored and correlations can be found that could indicate
possible system errors. AIoT systems can analyze events in real time, detect
anomalies and even predict and automatically correct cyber attacks. This
enables the system to make autonomous decisions that increase productivity and
efficiency, e.g. B. Shutting down operations in an emergency. The transaction
costs are reduced by optimizing the processes. With focused insights and
faster, more accurate decision-making, companies can grow their businesses
faster.
