Information Retrieval in Business Industry Using Blockchain Technology and Artificial Intelligence

Sheela K., Priya C.

Source Title: Deep Natural Language Processing and AI Applications for Industry 5.0

ISBN13: 9781799877288|ISBN10: 1799877280|ISBN13 Softcover: 9781799877295|EISBN13: 9781799877301

DOI: 10.4018/978-1-7998-7728-8.ch011

MLA

K., Sheela, and Priya C. "Information Retrieval in Business Industry Using Blockchain Technology and Artificial Intelligence." Deep Natural Language Processing and AI Applications for Industry 5.0, edited by Poonam Tanwar, et al., IGI Global, 2021, pp. 204-219. https://doi.org/10.4018/978-1-7998-7728-8.ch011

APA

K., S. & C., P. (2021). Information Retrieval in Business Industry Using Blockchain Technology and Artificial Intelligence. In P. Tanwar, A. Saxena, & C. Priya (Eds.), Deep Natural Language Processing and AI Applications for Industry 5.0 (pp. 204-219). IGI Global. https://doi.org/10.4018/978-1-7998-7728-8.ch011

Chicago

K., Sheela, and Priya C. "Information Retrieval in Business Industry Using Blockchain Technology and Artificial Intelligence." In Deep Natural Language Processing and AI Applications for Industry 5.0, edited by Poonam Tanwar, Arti Saxena, and C. Priya, 204-219. Hershey, PA: IGI Global, 2021. https://doi.org/10.4018/978-1-7998-7728-8.ch011

Export Reference

Favorite

View Full Text HTML

View Full Text PDF

Abstract

Industry 5.0 promotes automation in an optimized way. Collaboration with blockchain technology and artificial intelligence helps to enrich Industry 5.0 with its quantifiers and qualifiers. In the business industry, information plays an iconic role. When we consider the issues of storage and retrieval, we need to think about blockchain technology where the data will be stored and shared in a secure way. Here, the data will be distributed across the network in an encrypted format; hence, the original data can be viewed only by the owner of the data. Blockchain stores the information in the form of blocks. Every block has three sections. The first section holds the hash value of the previous block, the second one holds the information to be stored in a block, and the third one holds the hash value of an upcoming block. It does not allow an intruder to hack or modify the data without user's knowledge as these blocks are interconnected on both the sides with their hashes. This synergy of technologies brings supremacy in the field of business industries which will be discussed in this chapter.

Full Text Preview

Industry 5.0 And Its Advantages

Industry 5.0 is an insurgence in which human and machine reconcile and realizes the ways to work together to refine the effectiveness of the production. Few people believe that this industry 5.0 might replace humans in all the industrial activities in our near future. But the truth is, it reduces the difficulties that human face in their day-to-day life. It provides a complete background support in order to make the task simpler to the human beings. Industry 5.0 also helps in doing repetitive task for many numbers of times. Industry 4.0 highly promotes digitization and automation with certain drawbacks like complex and overpriced software, replacement of people’s job by machine, experts for robotic communication and so on. All these are resolved in Industry 5.0 to bridge the technical gap between the common people. It also advocates zero-waste production by reducing the waste material expenses and waste management fare. Also, it highly relies on personalization from mass customization.

Industry 5.0 will reach its peak when the 5G network is coupled with technologies like IoT-Internet of Things (including Industrial IoT), Artificial Intelligence (AI) increases the level of automated production (Bryndin, 2020). Also, integrating with Big data, blockchain technology, cloud and fog computing takes the industry into further reach by promoting automation.

The following are the advantages of imposing Industry 5.0(Digitalya, n.d.).

Highly Focused Maintenance Plan: So far, we have applies preventive maintenance in prior revolutions whereas industry 5.0 works in predictive maintenance.

Sustainability: It manages the resources in a well-organized manner based upon a current need. The partnership between human and machine power leads to resilient business models. Also, overproduction will be eliminated.

Productivity and Human Competence: This new technology brings back people to the center of production. Complex repetitive tasks can be managed by machines instead of being carried out by human beings.

Contexture Control Inside an Organization: Smartly interconnected sensors and personalized software gives real-time and predictive outline of humidity, energy consumption, climate and temperature. Having knowledge on, what to anticipate and where to arbitrate prevents severe loss in production.

References

	Analytics Insight . (n.d.). Available at https://www.analyticsinsight.net/potentials-of-nlp-techniques-industry-implementation-and-global-market-outline/
	Analytics Vidhya . (2017). Available at https://www.analyticsvidhya.com/blog/2017/01/ultimate-guide-to-understand-implement-natural-language-processing-codes-in-python/
	Bencic, F. M., Zarko, I. P., & Technology, D. L. (2018). Blockchain Compared to Directed Acyclic Graph. arXiv:1804.10013v1
	BMC . (n.d.). Available at https://www.bmc.com/blogs/public-vs-private-blockchain/
	Bryndin E. (2020). Formation and Management of Industry 5.0 by Systems with Artificial Intelligence and Technological Singularity. SciencePG.
	Digitalya . (n.d.). Available at https://digitalya.co/blog/industry-5-opportunities-and-challenges/#:~:text=The%20advantages%20of%20Industry%205.0,offer%20a%20better%20work%20environment.&text=Industry%205.0%20moves%20from%20mass%20customization%20to%20personalization
	ESDS . (n.d.). Available at https://www.esds.co.in/blog/blockchain-and-fraud-detection/#sthash.7nsj1xU4.dpbs
	Geeks for Geeks . (n.d.). Available at https://www.geeksforgeeks.org/integration-of-blockchain-and-ai/#:~:text=AI%20and%20blockchain%20are%20proving,media%20royalties%20and%20financial%20security
	Gill S. S. Tuli S. Xu M. Singh I. Singh K. V. Lindsay D. Tuli S. Smirnova D. Singh M. Jain U. Pervaiz H. Sehgal B. Kaila S. S. Misra S. Aslanpour M. S. Mehta H. Stankovski V. Garraghan P. (2019). Transformative Effects of IoT, Blockchain and Artificial Intelligence on Cloud Computing: Evolution. Vision, Trends and Open Challenges, Internet of Things.
	Guoa J. Fana Y. Liang P. Yang L. Ai Q. Zamani H. Wua C. (2019). A Deep Look into Neural Ranking Models for Information Retrieval. Journal of Information Processing and Management.
	Guru99 . (n.d.). Available at https://www.guru99.com/blockchain-tutorial.html
	Hacioglu. (n.d.). Digital Business Strategies in Blockchain Ecosystems-Transformational Design and Future of Global Business. Springer.
	Hirtan L. Dobre C. Krawiec P. Batalla J. M. (2019). Blockchain-based approach for e-health data access management with privacy protection. IEEE. 10.1109/CAMAD.2019.8858469
	Intech Open . (n.d.). Available at https://www.intechopen.com/online-first/natural-language-processing-applications-in-business
	Javed M. U. Rehman M. Javaid N. Aldegheishem A. Alrajeh N. Tahir M. (2020). Blockchain-Based Secure Data Storage for Distributed Vehicular Networks. MDPI. 10.3390/app10062011
	Kumar, Wang, Kumar, Yang, Khan, Ali, & Ali. (2020). An Integration of Blockchain and AI for Secure Data Sharing and Detection of CT images for the Hospitals. Academic Press.
	Liu Z. Chi Z. Osmani M. Demian P. (2021). Blockchain and Building Information Management (BIM) for Sustainable Building Development within the Context of Smart Cities. MDPI.
	Melnyk L. Kubatko O. Dehtyarova I. Matsenko O. Rozhko O. (2019). The effect of industrial revolutions on the transformation of social and economic systems. Problems and Perspectives in Management, 17(4), 381–391. 10.21511/ppm.17(4).2019.31
	Miao Y. Song J. Wang H. Hu L. Hassan M. M. Chen M. (2020). Smart Micro-GaS: A Cognitive Micro Natural Gas Industrial Ecosystem Based on Mixed Blockchain and Edge Computing. IEEE Xplore.
	Programmer Backpack . (n.d.). Available at https://programmerbackpack.com/top-natural-language-processing-nlp-algorithms-and-techniques-for-beginners/
	Salah . (2018). Blockchain for AI: Review and Open Research Challenges. IEEE.
	Samaniego, Kassani, Espana, & Deters. (n.d.). Access Control Management for Computer-Aided Diagnosis Systems using Blockchain. Academic Press.
	Sgantzos K. Grigg I. (2019). Artificial Intelligence Implementations on the Blockchain. Use Cases and Future Applications. MDPI. 10.3390/fi11080170
	Sheela & Priya. (2020). Enabling the efficiency of Blockchain Technology in Tele-Healthcare with Enhanced EMR. IEEE Explore.
	Singh S. Sharma P. K. Yoon B. Shojafar M. Cho G. H. Ra I.-H. (2020). Convergence of Blockchain and Artificial Intelligence in IoT Network for the Sustainable Smart City. Elsevier.
	Tutorials Point . (n.d.). Available at https://www.tutorialspoint.com/artificial_intelligence/artificial_intelligence_natural_language_processing.htm

You do not own this content. Please login to recommend this title to your institution's librarian or purchase it from the IGI Global bookstore.

Username or email: *

Password: *

Forgot individual login password?

Create individual account