Updated: Dec 1, 2021
Trying to understand everything there is to know about digital currency in one day is a quick way to give up on potentially life changing investment opportunities. Take your time, learn the game and it's rules...the crush it!
Great to have you investing some of your valuable time to read my blog. I’m humbled and grateful for your time.
Quick question. When someone mentions the word ‘crypto currency’, what’s the first thought that comes to your mind? Do any of these words resonate? Scammers, schemers, thieves, robbers, bandits, they-are-after-my-money-in-things-I-don’t-understand etc etc etc? Be honest now!
Let us abundantly clear! Digital transformation is here to stay and there are 5 game changing technologies for business that is receiving massive global adaptation. They are: Artificial Intelligence, Internet Of Things (IoT), Blockchain, cloud, and Big Data. When we see the exponential rate and speed these big 5 are growing at, it brings us to the big elephant in the room: how much do we know about it to intelligently and effectively function in the emerging world? If we are to be honest to ourselves, not much. And I’m not talking about an expert, just functional levels of knowledge, enough to get by as investors or potential investors in these emerging markets.
We must therefore start by reducing this knowledge gap through education and having fundamentals in place which will allow us to open up accessibility to cryptocurrencies, digital assets all those other whazacallit gizmos and blockchain-related space. It’s clear that the world is galloping that way and we must inform ourselves enough to intelligently interact (or at least appear to do so) or be relegated to the stone. And that’s where I come in.
With these little ebooks and followup short blogs, join me in my quest to be relevant and knowledgeable in this crypto whazacallit world we live in, and learn how to tap into the immense wealth movement taking place right now.
Its time for some education (Food for your thought here….There are two different Latin roots of the English word "education." They are "educare," which means to train or to mold, and "educere," meaning to lead out.) Which of the two words would you rather we do here? Drop me a comment and let’s journey together!
Okay! Let’s jump right into it.
Here’s the big scary one some people think it will lead to robots replacing human beings. Let’s tackle it. Whazacallit?
Artificial intelligence simply means a programme which mimics human thought process or cognition. This mimicking happens in some of the things we associate with other minds, such as learning and problem solving, which now can be done by computer programmes.
AI involves many different fields like computer science, mathematics, neuroscience and the like but for the purpose of this blog, we shall keep it simple to just understanding the basics of what AI is and what it does. Good?
Kaplan and Haenlein classify artificial intelligence into three different types of AI systems: Human-inspired AI, Humanised AI and Analytical AI. We are not even going to ‘sniff’ at the first two types of AI. No scary stuff (we want to sleep comfortably tonight, right?), so let’s talk about Analytical AI.
Analytical AI only has characteristics consistent with cognitive intelligence or thought processes, generating cognitive representation of the world and using learning which is based on past experience to inform future decisions. So whazacallit Artificial Intelligence again?
Andreas Kaplan and Michael Haenlein defines AI as “a system’s ability to correctly interpret external data, to learn from such data, and to use those learnings to achieve specific goals and tasks through flexible adaptation.” Simplez. Right?
An ideal intelligent machine or computer program is a flexible agent which analyses or perceives its environment and takes actions to maximise its chance of success at some goal or objective. This is vitally important, so let’s take this slow.
In other words, we (human beings) can now program computers or systems to intelligently analyse data or information from past performance, accurately predict future performance and proactively take action to achieve a pre determined goal. That’s what I call a 💥Buum 💥 thought, right there!
Think about how advantageous this would be! To have a program that does that for you in the financial markets!?! You would be a gazillionaire, right? Good news! This is actually being done now through analytical artificial intelligence and you still might have that shot at being a gazillionaire yet!
Hang on to that thought as we take a breather (phew)!
Catch You On The Next One!
In our next blog, we shall have fun bringing some basic information on the other big 4 technologies as we begin to see the impact they are already having in our lives.
Till then, ta ta!