Blockchain technology and artificial intelligence have both been overhyped since their inception. Yet this hasn’t directly benefitted the advancement of these technologies – instead, it has driven people to avoid them or implement them poorly.

In the case of both AI and blockchain, many companies have rushed into implementation due to overhype, only to fail when unprepared. In addition, there’s the risk that we put too much trust into these technologies, only to have it not meet our expectations.

In their current states, both AI and blockchain lack maturity. Business leads need to better educate themselves on how to implement innovative technology in a practical and useful way.

AI and blockchain’s value isn’t what you might think

While both artificial intelligence and blockchain have massive value, this value is often misconstrued as immense and daunting. Instead of implementing a large AI team, we should find the best solution for our businesses. This could mean outsourcing, bringing in one expert, or merely using another company’s platform.

For example, many companies offer platforms that utilise AI and/or blockchain and can provide the software to both big and small companies. While the ability to implement nascent technologies can often seem limited to big companies, there are ways that smaller companies can implement these technologies.

Generally, the true value of these technologies is less hype-based but rather practical implementations, such as data storage and analysis.

The true value of AI and blockchain

While there are some high-profile implementations of AI – for example, Google’s success with using the tech in its search engine – the most valuable use of AI is in practical data storage, evaluation and predictive analysis. This extends to a variety of different sectors from medical records and data management to supply chain management.

One of blockchain’s most practical applications is also data security and storage. Blockhead Technologies brings blockchain into data tracking in the supply chain management and fuel tracking sectors with STAMP Fuel and STAMP Supply. We offer blockchain-backed platforms that are efficient and cost effective to enable access to both big and small businesses.

You can find out more about STAMP here or contact us here for a demo.