article by Cornel Vintila, Chairman of the Board of Aurachain.
Mr. Vintila will deliver a keynote speech on „Disruptive business models of the future” at international fintech conference – Banking 4.0.
The question of where mankind is going is a difficult one to understand, with an even more difficult answer in light of evolving technology.
We can attempt to map the dynamic landscape of some of these technologies to understand where we are likely to go at a time when things are moving faster and faster.
A map of key drivers of change
There are 5 important items represented into this map with related connections.
1. The most dynamic factor is Artificial Intelligence
At the center of our map is Artificial Intelligence, a factor evolving in unusual ways and already silently disrupting our lives. But I’ll not try to explain what the categories of Artificial Intelligence are and how each of its sub-categories will add new capabilities for transforming the human activities. I’ll try to explain instead, how AI is related with the others 4 core factors.
2. Human Intelligence
Human Intelligence will forever remain the key subjective factor able to invent tools (machines) for improving our life, our way of acting and our way of doing business. In his creative activity, the human harnessed the power of the fire, invented the wheel, discovered the power of steam and started to move processes outside of himself and into separate machines named automates, the logic for his actions. I personally believe that the Human will enable and will emulate forever what we have started to label as Artificial Intelligence. Being in an asymmetric relationship, the recurrent process will be determined mainly by the Human factor in a way that will make this relationship, between Human and AI, irreversible. Here I see the possibility of a dual evolution, where the human will drive the initiative and the holistic architecture and AI mechanisms will add more power, more content and more optimized structures, making a better performance possible for the whole ecosystem.
3. Quantum Computing
Human desire and human intelligence have already generated advances in AI. However, taking into consideration that at the present time the computation power is growing faster once more since Quantum Computer has emerged, we must take a close look at this emergent factor. Quantum Computing has the ability to power new ways to mix Human and Artificial Intelligence by enabling unique combinations and breaking the boundaries of computational speed. While there is significant complexity in some of the details of how it could be used, its relevant here to observe that this will be an upper level powering the whole system.
The question of where AI sits is a big, open question that remains unanswered.
The standard technology stack is evolving and offers many alternatives for a performant environment able to host AI software. If we pay attention to the blockchain capabilities we can see the unique benefits that make blockchain the best technological environment for hosting AI.
. It is a distributed network where the nodes can offer a holistic and perfect redundant way to replicate the AI content;
. It’s a modular chain of blocks in a ledger database, able to make a continuous growth process for AI content possible;
. The blocks can contain self-executable source code named smart contracts and moreover, the blocks can be elements of a huge business rules repository, hosting all the logic necessary to govern and execute very complex business models
. Blockchain can be design for hosting AI content in a transparent, but safe way. This allows for AI content, in the same time, to grow and evolve, adding new content like new blocks that replace existing ones with updated versions. This approach to store and expose data and processes in a safe and transparent way (only for certified participants) can be the perfect intelligent and trusted environment where the multiple parties can adhere to common terms and conditions, helping consensus and alignment. This approach of multiple trusted parties accepting a common environment can readily replace current fragmented B2B relationships.
. No requirement for third parties playing different inter-mediation roles because this kind of distributed and trusted AI, hosted in an ethical platform business, will offer a much cheaper and more performant alternative to current business applications.
5. New multi-sided platform business will be available
The outcomes of this new kind of platform architecture are uncountable and only the human imagination is to the potential transformation of existing processes.
Any business model can be redesigned using this distributed and ethical AI model, hosted in a performant blockchain platform, powered by quantum computing and being all the time initiated, enabled and governed by smart human teams.
About the Author
As serial entrepreneur with relevant projects in telecom, software industry, GIS, industrial engineering including IOT and business process management, Cornel Vintila has gained a relevant experience as enterprise architect and has more than 30 years of experience in management and business development.
At present, this experience has helped define the new strategic direction of AURACHAIN’s development towards blockchain industry, smart contracts, a platform economy based on positive ethics ecosystems.
He holds a Masters in Telecommunication Management – from the Cable & Wireless College in the United Kingdom, and Master in Electronics and TC – from the Polytechnic University of Bucharest, Faculty of Electronics and Telecommunications.
His hobby is „the research and development of neotech business in niche markets”.
He will deliver a keynote speech on „Disruptive business models of the future” at international fintech conference – Banking 4.0.
„Tendinţele pe care le-am remarcat înainte de începerea pandemiei s-au accelerat pe perioada stării de urgenţă. Am văzut acest lucru ca o oportunitate, un tipping point pentru bancă. Post-pandemie nu avem cum sa ne întoarcem la comportamentul financiar pe care îl aveam până în februarie a.c. Relaţia românilor cu online-ul s-a schimbat. In plus, cardul fizic se va dematerializa. Vom asista la o scădere a cererii pentru cardurile fizice, respectiv la o creştere a preferinţei pentru componenta digitală a acestora.”