The Significance of Cognitive Computing in a Digital Economy

by November 5, 2019 0 comments

Cognitive Computing refers to the technology that is based on the scientific principles behind artificial intelligence and signal processing. It revolves around making computers adept at learning the human brain. As the use of AI is just to implement the best algorithm to solve a problem, cognitive computing goes a step beyond and tries to mimic human intelligence by assessing a series of factors.

IBM’s Watson is the most advanced cognitive computing framework which utilizes AI-powered disruptive technologies such as machine learning, real-time analysis, NLP, among others, to enhance decision making and deliver better outcomes. According to IBM that defines cognitive computing as an advanced system that learns at scale, reasons with purpose and relates to humans in a natural form.

Thus, to upraise the value proposition of their services on any scale, enterprises must be armed with vital digital strategy and technological infrastructure to integrate these systems into key business processes.

 

Driving Business Growth with Cognitive Computing

While artificial intelligence systems just solve a given problem, cognitive computing, on the other hand, learns by studying patterns and recommends humans to take pertinent action based on its understanding. Cognitive computing is a distinct field collectively where it serves as an assistant rather than the one finishing the task. In this way, it provides humans with the ability to analyze data faster and more accurate, without having to worry about the wrong decisions taken by the machine learning system.

In process automation, the modern computing system is destined to transform the current and legacy systems. Unlike any other technology introduced in the last two decades, cognitive computing will disrupt the digital sphere in the coming years. Having the power of assessing and processing a vast amount of data, it assists businesses in employing a computing system for germane real-life system.

As this technology makes businesses to create a proper response to uncontrollable factors, simultaneously it helps to generate lean business processes. By adopting cognitive computing, enterprises can obtain a range of benefits that can assist them to accelerate business growth and gain large revenue.

 

Precise Data Analysis

Cognitive systems are highly-efficient in gleaning, dealing and processing, and cross-referencing information to identify evolving factors, trends, and insights and make accurate evidence-based predictions. Therefore, enterprises can leverage cognitive computing to mine information patterns from integrated data and advance their services through data-driven insights on customer behavior, preferences, and demands.

 

Enhanced Customer Interaction 

Having the power of integrating various elements of the integrated data like customer behavior, market trends, among others, cognitive computing can be leveraged to enhance customer interactions by implementing RPA. While cognitive systems make it possible to provide only germane, contextual, and reliable information to the customers, it improves customer experience, making them satisfied and much more engaged with a business.

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