Technology is filled with buzzwords that come and go. However, three key ideas that have grown in stature and relevance over recent years are blockchain technology, artificial intelligence and the internet of things. These three emerging technologies represent different aspects of the data world, and 2018 may be the tipping point in their convergence. The result? Three different pieces of technology will start working together in a seamless ecosystem, and the result is a more connected, more efficient and more secure world.

In order to see how these technologies might work together, it’s essential to understand their specifics. Let’s take a closer look.

Blockchain: Blockchains have been around for nearly a decade and first came to prominence with the rise of bitcoin. Blockchains are a database platform with several key market differentiations. First, they are decentralized, removing single authority over the data. Second, many are publicly vetted through a network of users. Third, data is permanent as each record is recorded in a block and linked to adjacent records, making them immutable and linear. For more information, see my book, Blockchain for Dummies.

AI: This term brings up many stereotypes from sci-fi, mostly involving the dystopian end of the world. However, AI is just as likely to bring about a better world as it is to end it. Current AI simply represented learning algorithms that can adjust and make decisions based on processing high volumes of data. An example of this is Apple’s Siri. Siri learns your schedule, habits and likes/dislikes by merely tracking data of individual decisions. When patterns are recognized, Siri can make decisions about recommendations and options. AI can be used in all sorts of applications, from B2B to B2C, and in the process, make things faster and easier for the end user. For more information, see Max Tegmark’s book, Life 3.0: Being Human in the Age of Artificial Intelligence.

IoT: The internet of things is already here thanks to a combination of Wi-Fi, data networks and Bluetooth connecting devices. The emerging smart home is an example of IoT, where the idea is that all of the “things” are connected to the internet: refrigerator, TV, thermostat and more. As more and more everyday devices go online, IoT becomes increasingly mainstream and part of daily life. For more information, see Bruce Sinclair’s book, IoT Inc.