Understanding Cognitive Computing
Gartner has rated cognitive computing as a platform that will bring about a digital disruption unlike any seen in the last 20 years. This makes it worthwhile for your business to check out cognitive computing capabilities and how it can deliver advantages to your business.
Cognitive computing systems bring about the best of multiple technologies such as natural language queries and processing, real time computing, and machine learning based technologies. By using these technologies, cognitive computing systems can analyze incredible volume of both structured and unstructured data.
The objective of cognitive computing is to mimic human thoughts and put it in a programmatic model for practical applications in relevant situations. This biggest name in cognitive computing – IBM Watson, relies on deep learning algorithms aided by neural networks. They work together to absorb more data, learn more, and mimic human thinking better.
Advantages Of Cognitive Computing
Today, we have compiled a list of some key benefits of cognitive computing through real life use cases:
1 – Better data analysis
Take the example of healthcare industry. Cognitive computing systems can collate information, reports, and data from disparate sources like medical journals, personal patient history, diagnostic tools, and documentation of similar lines of treatment adopted in the past from different hospitals and medical care centers.
This provides the physician with data backed and evidence based recommendation that can enhance the level of patient care provided to the patient. So here, cognitive computing will not replace the doctor, it will simply take over the tedious job of sifting through multiple data sources and processing it in a logical manner.
2 – Efficient processes
Swiss Re is a great example of how a complex process can be made simpler by employing cognitive computing. According to officials, using cognitive computing helps them to identify and take action based on emerging patterns. It also helps them to spot opportunities and uncover issues in real time for faster and more effective response.
Its underwriting process for the Life and Health Reinsurance business unit was revolutionized when it used IBM Watson to analyze and process huge amount of unstructured data around managing exposure to risk. This enabled them to purchase better quality risk and thus add to their business margins.
3 – Better level of customer interactions
Hilton partnered with IBM to enable better quality of interactions and drive a superior front desk and hospitality experience to guests. The result is Connie, a Watson enabled robot concierge. It can provide amazingly relevant, contextual, and accurate information on broad subjects around travel and hospitality, like, informing about local tourist attractions, providing information on hotel amenities, and providing fine dining recommendations. Hilton is reimagining the entire travel experience with Connie, to make it smarter, easier and more enjoyable for guests.
These advantages highlight the massive potential that cognitive computing possesses. Embracing it at an early stage will help you experiment and personalize the tremendous power of cognitive computing to deliver incredible gains to your business.