Concurrent processing refers to multiple logical control flows that may execute in parallel.
Asynchronous processing, on the other hand, is effectively a mechanism for the asynchronous (i.e., nonblocking) invocation of methods/functions. In other words, the caller invokes the method and can continue processing while the method is being executed.
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Concurrent processing implies the simultaneous execution of multiple tasks. It is a function of design, whereas parallel computing is a function of hardware.