Artificial intelligence and blockchain: Must-Have Technologies

Artificial Intelligence And Blockchain: Must-Have Technologies For Business In 2021. The closing of a year and the beginning of a new one usually leads us, individually and collectively, to a natural process of taking stock and at the same time renewing energies and objectives.

This beginning of 2021 coincides with what we hope will be a turning point in the fight against the pandemic: the long-awaited arrival of the first vaccines. Without being a magical and immediate solution, it is to be hoped that the vaccination campaign will manage to significantly reduce the negative effects of the virus on people’s lives and health, as well as its social and economic impact.

At the business level, we will see in 2021 a process of affirmation in terms of digital transformation, following the acceleration that began in 2020 as a result of the confinements and the need for companies to ensure their operational continuity and adaptation and reinvention of their business models to the new normality.

Undoubtedly, one of the greatest accelerations has occurred in the online e-commerce world. It is evident that mass confinements have generated a substantial increase in online purchases and transactions, a phenomenon that in turn has led consumers to demand simpler and more effective solutions throughout their entire experience or journey. According to Salesforce research, 75% of consumers expect companies to understand and address their needs more efficiently, hence the importance of implementing solutions to improve the user experience.

In this context, two of the innovations that have had the greatest boom and that will become more relevant this year 2021, are artificial intelligence (AI) and blockchain. The applications of these technologies are so broad that they adapt to various business needs.

An example of how to employ this technology is through conversational devices, better known as chatbots, with which companies can improve their customer experience by resolving doubts, questions, and recurring complaints more efficiently, while the rest of the human capital is responsible for solving more complex tasks.

As far as blockchain is concerned, the application of this innovation in business can make a difference and improve the customer experience on a large scale. Among the main uses that can be given to it is the storage of confidential data, smart contracts, logistics services, issuance of digital certificates, and, of course, monetary transactions. Due to the structure of this technology, it is virtually impossible to breach the data, improving the security and reliability of critical processes.

In this sense, if companies use the blockchain in various areas of the value chain of online stores, from the moment a customer pays for a product, to receive it at home, the experience they will get will improve drastically, because the security, transparency, and speed of service will be optimal. Making use of this type of tool has become more accessible, since there is a wide range of solutions available in the market, which can benefit both large corporations and SMEs, resulting in a differential factor with the competition that can translate into higher profits in the medium term.

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