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Blockchain, cryptocurrencies, and insider stories by TNW.

Tech companies still care more about AI and IoT than blockchain

Firms prioritize AI and IoT in transformation strategies

blockchain, iot, ai, artifiial intelligence, cryptocurrency, bitcoin, internet of things, investment, strategy

Blockchain might be the hot buzzword of the moment, but according to new research, it’s being bested by the Internet-of-Things (IoT) and artificial intelligence (AI).

A recent survey conducted by identity management cloud software provider, Okta, found that digital firms are investing in AI and Internet-of-Things over blockchain, Cointelegraph reports.

The survey questioned 1,050 IT, security, and engineering decision makers at $1 billion firms. They were asked if their company invests in either AI, augmented reality, blockchain, or Internet-of-Things as part of their “digital transformation strategy.”

Decision makers were surveyed between January and February this year. Ninety percent said they were investing in at least one of the above technologies as part of their “digital transformation strategy.”

Of that 90 percent, 61 percent of respondents claimed their firm invests in blockchain. While 72 percent of respondents said their business is investing in Internet-of-Things, and 68 percent in AI.

Indeed, it seems blockchain still has a way to go before it becomes the focus of development for these surveyed businesses.

At the end of March, Facebook had over 20 blockchain-related jobs listed on its website. And earlier this week, the US Securities and Exchange Commission (SEC) posted a listing for a “crypto specialist.”

According to Indeed.com, there has been a 90-percent increase in blockchain, Bitcoin, and cryptocurrency related job postings between February 2018 and February 2019.

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Published April 3, 2019 — 09:46 UTC