INTEGRATION OF ARTIFICIAL INTELLIGENCE INTO THE BLOCKCHAIN AND CRYPTOCURRENCY MARKET
DOI:
https://doi.org/10.31891/mdes/2023-10-8Keywords:
blockchain, cryptocurrency, artificial intelligence, integration, financial market, security, innovationAbstract
This article explores the transformative potential of integrating artificial intelligence (AI) into blockchain technology and the cryptocurrency market. Highlighting the growing attention towards blockchain and cryptocurrencies, emphasizing their decentralized, secure, and transparent nature. However, challenges, including the need to address scalability issues and ensure responsible usage, prompt a focus on AI integration as a viable solution. The study delves into the benefits of AI in the cryptocurrency market, showcasing its ability to predict trends, identify risks, and optimize trading strategies. The research emphasizes the relevance of investigating the integration of AI into blockchain and its specific applications, particularly in detecting and preventing fraud. The article recognizes the potential for increased efficiency, reduced costs, and improved security in transactions through this integration. Acknowledging potential challenges such as AI decision-making implications and technical hurdles, the article advocates for ongoing research and development. It highlights the need for responsible AI adoption to maximize benefits while addressing concerns like algorithmic biases and potential market manipulation. Also explores AI's role in risk management, fraud detection, and investment management within the financial sector. It underscores the importance of ethical considerations, transparency, and accountability to ensure AI's integration aligns with the best interests of all stakeholders. As the article concludes, it emphasizes the dynamic and transformative potential of the integration of AI into blockchain and the cryptocurrency market. It advocates for a collaborative approach among stakeholders, policymakers, and developers to ensure responsible usage, compliance with regulations, and ongoing innovation. The synthesis of AI and blockchain technologies has the potential to revolutionize industries, enhance security, and contribute to a more efficient, transparent, and innovative future.
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