Recently popularized by IBM’s highly intelligent Watson supercomputer, which competed on the hit game show Jeopardy, cognitive computing refers to machines that are capable of learning concepts and patterns through advanced language processing algorithms. A system that involves incredibly advanced artificial intelligence, cognitive computing is one facet of computer science that isn’t for the faint of heart.
Although much of the hype is centered on big business and big data processing, there are a number of consumer applications. Whereas business leaders might use the technology to increase their bottom line, streamline daily operations and achieve greater profitability, consumers can take advantage of computing to ease some of the burdens of everyday life.
In fact, many consumers are using some form of it without realizing it. Smartphone apps, in-store kiosks, and e-Commerce use cognitive computing to offer users and customers greater accessibility, increased support and cost comparison. According to Deloitte, more than half of all mobile users currently use their devices while shopping in order to browse prices and download coupons.
While cognitive computing has yet to reach its full potential, there are nearly infinite possibilities for its future implementation.
According to some sources can bolster the recordkeeping and documentation process within the healthcare sector by collating patient history, recommending the appropriate diagnostic tools and even suggesting relevant articles or whitepapers. Some analysts predict that approximately 30 percent of all healthcare IT systems will use cognitive computing by the year 2018.
Our ability to manage ad-hoc projects can also benefit from it. By utilizing a system like IBM’s Watson as a personal, AI-driven secretary, project managers can obtain accurate information, monitor timelines and deliverables or even participate in the overall project planning and budgeting phases. People who actively use a project portfolio Management Strategy can use the technology to achieve greater resource allocation, track multiple projects and collate data from various sources.
People in the insurance industry also stand to benefit from cognitive computing and advanced AI. According to research by experts with IBM, computing systems can bolster human-computer engagement, strengthen information discovery and make important business decisions. Additional benefits include improvements in risk management, cost analysis and customer service.
Companies use cognitive computing in a myriad of other ways, too. Some use the technology as a means of supporting internal troubleshooting and third-party software, while others use it to collect, store and analyze financial data on behalf of individual clientele.
Cognitive computing is receiving support from some of the top names in the IT world. Apart from IBM and their Watson supercomputer, brands such as Microsoft, Cisco, Google and Spark have thrown their respective hats into the mix. Moreover, they all add something different to the concept of cognitive computing.
For example, Microsoft offers various software development kits and utilities in order to support the programming and implementation of advanced artificial intelligence in modern software. Conversely, Cisco’s Cognitive Threat Analytics suite is meant to identify and resolve cyber-threats as soon as possible.
Despite the fact that it’s still a relatively new concept, there’s no denying the computing’s impact on our daily lives. As more companies pledge resources to the development of the technology and as more consumers embrace it in their personal lives, we’ll only see the technology improve even further. Indeed, its definitely here to stay.
By Kayla Matthews
