• Artificial intelligence (AI) and blockchain have the potential to achieve wild, weird results, but the first experiments will likely be mundane.
• Enterprises scale by implementing process controls and automating systems, while generative AI is not good at consistently executing the same task with high precision.
• As AI and blockchain come together, expect slow progress as businesses integrate these technologies into their existing processes.
The Potential of AI and Blockchain
When generative artificial intelligence (AI) and blockchain technologies merge, they have the potential to achieve wild, weird, and unimaginable results. However, according to EY’s Paul Brody, don’t expect too much from the first experiments – they are likely to be mundane.
Scaling Enterprise Systems
Businesses need process controls in order to scale their enterprise systems successfully. This includes things like inventory management or hiring which requires end-to-end process management. Generative AI systems are not designed for this purpose as they often give wildly different answers when asked similar questions which can disrupt established business processes that require consistency in input.
Integrating New Technologies
As both of these transformative technologies become more widespread in business environments it will take time for them to be fully integrated into existing processes without disruption. Businesses must find a way to use these new technologies responsibly whilst maintaining accuracy and efficiency in their current operations if they want them to make a lasting impact on productivity.
Slow Progress Ahead
Brody believes that progress with AI and blockchain integration may be slower than expected due to its complexity and varied applications within different industries. He states that this doesn’t mean it won’t have an impact eventually but people shouldn’t expect too much from early experiments as they are likely to underwhelm compared with expectations of grand success stories from the start.
Conclusion
AI and blockchain offer immense opportunities for businesses across many sectors but integrating them without disruption will take time as businesses must carefully consider how best to implement them responsibly without compromising accuracy or efficiency in their current operations. Although we should look forward to innovative results from merging these two technologies together, don’t expect miracles just yet – initial experiments are likely to be boring or mundane in comparison with our lofty expectations!