Why modern enterprises need to adopt cognitive computing for faster business growth in a digital economy
Modern enterprises must be equipped with necessary digital strategy and technological infrastructure to integrate cognitive computing systems into key business processes to elevate the value proposition of services on any scale.
Cognitive computing (CC) technology revolves around making computers adept at mimicking the processes of the human brain, which is basically making them more intelligent. Even though the phrase cognitive computing is used synonymously with AI, the term is closely associated with IBM’s cognitive computer system, Watson. IBM Watson is a supercomputer that leverages AI-based disruptive technologies like machine learning (ML), real-time analysis, natural language processing, etc. to augment decision making and deliver superior outcomes.
The primary aspect of cognitive computing is its ability to learn and make decisions based on its experience. It is technologies like AI and ML that enable cognitive computing systems to analyse a tremendous volume of data and generate insights, and use them as a learning experience to give optimised results. Owing to the amazing performance of these systems, more and more industries and organisations are leveraging cognitive solutions to enhance their operations – like data accruement, insight generation, action planning and management – and boost productivity.
A cognitive computing expert at IBM describes the impact of the technology’s transformative capacity on businesses:
“Cognitive systems are very good at doing the heavy lifting — pulling data together, analysing the information, and then presenting the relevant answers to users so that they can make more confident and effective business decisions that impact performance and revenue.”
As discussed above, cognitive computing systems are typically based on multiple technologies like natural language processing and queries, machine learning algorithms, real-time computing, and so on. Enterprises must be equipped with necessary digital strategy and technological infrastructure to integrate these systems into key business processes to elevate the value proposition of services on any scale.
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