Tag: Blockchain Technology

The holiday season is just around the corner, bringing with it Black Friday, the year’s largest shopping event. While this period offers exciting opportunities for both retailers and shoppers, it also brings increased risks. Shoppers eagerly anticipate discounts, but hackers and fraudsters see the surge in online and in-store traffic as an opportunity to strike. Blockchain technology, initially developed for cryptocurrency, is now becoming a powerful tool for improving security in various sectors, including retail. With retailers and payment processors turning to blockchain, they aim to protect customer information and quickly detect and block fraudulent activities during Black Friday sales.

When the volume of transactions skyrockets, cybercriminals target both online platforms and physical stores. In 2023, Adobe reported that consumers spent $9.2 billion on Black Friday, and the figure is expected to rise this year. As online shopping continues to grow faster than in-store purchases, the need for a more secure framework becomes even more urgent, especially to counter threats like payment fraud, phishing, and identity theft.

How Blockchain Ensures Secure Shopping on Black Friday

Blockchain technology offers a decentralized, tamper-resistant ledger that transforms how transactions are handled. Unlike traditional databases with centralized servers, blockchain records data across multiple nodes, making it much harder for hackers to manipulate. This innovation is already strengthening security for Black Friday shopping in several ways:

Decentralized Data Protection

Traditional online retailers store customer data in centralized systems, which are vulnerable to breaches. In contrast, blockchain distributes transaction records across a network of nodes. This decentralized model ensures that even if one node is compromised, customer information remains secure across the network, reducing the risk of large-scale data theft.

Enhanced Payment Security

Blockchain-based payment platforms provide an extra layer of security through mechanisms like “proof of work” or “proof of stake,” which authenticate transactions and prevent double-spending. These systems make it extremely difficult for unauthorized parties to alter transactions or engage in fraudulent activities. Retailers and financial institutions are increasingly adopting blockchain to ensure faster, more secure payments that cannot be reversed fraudulently.

Transparent Records to Prevent Fraud

Blockchain’s transparent structure makes it a powerful tool against fraud. Each transaction is verified and recorded by multiple participants on the network, ensuring that tampering attempts are quickly detected. This is especially useful against chargeback fraud, where a customer disputes a legitimate purchase to claim a refund. With blockchain, every transaction’s full history is readily available, making it easy to spot and address fraudulent behavior.

To Know More, Read Full Article @ https://ai-techpark.com/black-friday-shopping-security/

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AI-powered e-commerce platforms scale SMB operations by providing sophisticated pricing analysis and inventory management. Encryption and blockchain applications significantly mitigate concerns about data security and privacy by enhancing data protection and ensuring the integrity and confidentiality of information.

A 2024 survey of 530 small and medium-sized businesses (SMBs) reveals that AI adoption remains modest, with only 39% leveraging this technology. Content creation seems to be the main use case, with 58% of these businesses leveraging AI to support content marketing and 49% to write social media prompts.

Despite reported satisfaction with AI’s time and cost-saving benefits, the predominant use of ChatGPT or Google Gemini mentioned in the survey suggests that these SMBs have been barely scratching the surface of AI’s full potential. Indeed, AI offers far more advanced capabilities, namely pricing analysis and inventory management. Businesses willing to embrace these tools stand to gain an immense first-mover advantage.

However, privacy and security concerns raised by many SMBs regarding deeper AI integration merit attention. The counterargument suggests that the e-commerce platforms offering smart pricing and inventory management solutions would also provide encryption and blockchain applications to mitigate risks.

Regressions and trees: AI under the hood

Every SMB knows that setting optimal product or service prices and effectively managing inventory are crucial for growth. Price too low to beat competitors, and profits suffer. Over-order raw materials, and capital gets tied up unnecessarily. But what some businesses fail to realize is that AI-powered e-commerce platforms can perform all these tasks in real time without the risks associated with human error.

At the center is machine learning, which iteratively refines algorithms and statistical models based on input data to determine optimal prices and forecast inventory demand. The types of machine learning models employed vary across industries, but two stand out in the context of pricing and inventory management.

Regression analysis has been the gold standard in determining prices. This method involves predicting the relationship between the combined effects of multiple explanatory variables and an outcome within a multidimensional space. It achieves this by plotting a “best-fit” hyperplane through the data points in a way that minimizes the differences between the actual and predicted values. In the context of pricing, the model may consider how factors like region, market conditions, seasonality, and demand collectively impact the historical sales data of a given product or service. The resulting best-fit hyperplane would denote the most precise price point for every single permutation or change in the predictors.

To Know More, Read Full Article @ https://ai-techpark.com/ai-integration-and-data-security-in-e-commerce/

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In the ever-evolving landscape of theology, three revolutionary forces have gained momentum and have a promising future in reshaping industries. These three are quantum computing (QC), artificial intelligence (AI), and blockchain technology, which have already left a mark in various domains. Thus, by combining these three technologies organizations can benefit researchers by improving scalability, efficiency, and security when implemented in the real world.

So, in this article, we will explore the future of quantum computing, AI, and blockchain technology by exploring the potential and powerful synergies, challenges, and opportunities.

Quantum Computing

As discussed in our previous articles, quantum computing has the potential to address the traditional computing methods that the modern technological industry needs, for example, in manufacturing, finance, astronomy, and many more. QCs are capable of performing complex calculations at a much faster magnitude than traditional computers. For example, quantum computing can be used to optimize the supply chain, enhance financial risk management, improve drug discovery, and optimize e-commerce logistics.

Revolutionizing with AI

Artificial intelligence has made a remarkable contribution to our industry by enabling machines to perform tasks that were previously conducted by humans. AI has a bright future for making daily work autonomous, self-improvement, unstructured data, and understanding complex equations. With quantum computing and quantum machine learning algorithms, we can process and analyze massive datasets with efficiency, empowering AI systems to predict accurately and make correct decisions.

Blockchain Technology

On the other hand, blockchain technology is a distributed ledger that enables transparent and secured transactions without the need for banks or financial institutions by introducing decentralized cryptocurrencies like Bitcoin. Blockchain technology comes with the concept of “proof-of-work” used in many blockchains, which requires computation tasks. By adding new blocks, tampering with the blockchain becomes even more difficult. Blockchain technology can be used in other areas as well, like smart contracts, supply chain monitoring, the delivery of secure medical records, and voting systems.

Overall, blockchain technology offers a secure and immune way to manage and store data related to the Quantum machine learning system. By harnessing the power of blockchain technology, financial organizations can ensure that the data is safe and up-to-date. As quantum computing is continuously advancing, blockchain technology has become an important tool for securing QML systems.

To Know More, Read Full Article @ https://ai-techpark.com/blockchain-ai-and-qc/ 

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