A Comprehensive Transformative Effect of IoT, Machine Learning, and Blockchain in Computing Technology

Abstract

In today’s scenario, every organization is dependent on the use of computers for automating business and work. The data generated by the organization is huge and has great significance in analyzing the processes. It can be rightfully described as the lifeblood of any organization. The world of computing requires three technologies: IoT, machine learning and blockchain. The confluence of these technologies is inevitable in the future due to the benefits which are involved in future applications. There is barely any activity today which cannot apply the use of these three technologies; e.g. healthcare, automation, education, and the Internet of Things (IoT) can be defined as interconnection of various autonomous devices which are capable of communicating with each other. IoT requires an intermittent Internet connection and address for every device. The user of these devices can remotely monitor and manage by retrieving the information on a handheld device such as a cell phone. This way, the devices are connected 24/7 and continuously generating data. Challenges of IoT involve security, connectivity problems, and huge amounts of data. The devices can be made capable of making intelligent decisions by incorporating artificial intelligence (AI) machine learning technology. Machine learning is a sub-branch of AI. It has huge potential to detect the patterns and anomalies in the data which is generated by the wireless sensor nodes in IoT. The advanced decision-making process of machine learning has already influenced our daily routines in, for example, healthcare, the banking sector, interactive gaming, transportation, and missions for exploration of space. Challenges faced by ML include data security, centralization, and limitations in resources. To cover the security aspect of these two technologies, blockchain technology is the perfect answer. It is a decentralized peer-to-peer network which stores the records and transactions in blocks which cannot be altered. This technology secures the communication by eliminating the need for any trusted third party. The blocks are stored in such a manner that it is impossible to hack or tamper with the data by taking control of device or capturing the records. This chapter will present a comprehensive and quantitative analysis of the existing research in these fields and how these technologies can be used for a transformative impact in accessing information by the users. The convergence of blockchain, machine learning, and IoT will provide scalability and high-level intellectual functioning which will be secure to bring a new paradigm of digital transformation.