Cognitive Cloud and its silver lining
Cognitive computing is a rising growth engine for businesses, and according to a recent report conducted by Allied Market Research, it is expected to reach $13.7 billion by 2020.
Over the last decade, cognitive computing has brought significant benefits to industries such as healthcare and retail, and it’s not going to stop there. Now, more than ever, businesses are going towards this not so new technology for one main reason – gain competitive advantages.
What makes Cognitive Cloud different?
Cognitive computing has its superpower, and that’s combining artificial intelligence with human intelligence. To be more specific, this new class of technology extends human engagement and refines expertise all for the love of new and smarter products and services. Long story short, cognitive cloud is all about humans and robots working together for better and results. That is fascinating indeed!
Cognitive cloud from industries points of view
Cognitive Computing has a simple, but yet higher purpose. Using it, industries like the above mentioned have finally found the answer to some of the most alarming challenges. By extending human intelligence and its ability to understand the impressive amount of data and insights, cognitive cloud has found a way to apprehend some of the most crucial situations, such as: analyzing disorganized data, getting actionable results from analytics, and ensuring security for data coming from multiple sources. It is precisely because these abilities, industries like healthcare, and retail see Cognitive Cloud as a problem solver.
Healthcare industry not only that it handles a huge amount of data and information, but it also has to ensure a high-security level. Moreover, this data is constantly growing, changing and updating, posing some major problems for this sector. To have a clearer picture of this rapid evolution, you can take a look at a Gartner prediction, which states that the world’s information will grow by 800 % in the next five years. Cognitive computing is helping healthcare to cope with this massive amount of data and increase efficiency through one essential feature – Capturing. What cognitive cloud does is to take multi-structured data, catalog them and save to a database. This is a crucial process for healthcare physicians allowing them an easier and broad access to personalized information that they might use for a strategic processing.
Retail is a trillion dollars’ industry with one purpose – gaining customer confidence. That is also the reason why one of this industry’s deepest challenge is to increase customer engagement. Cognitive Cloud has found its entrance into this sector as well, providing important and crucial features, such as cognitive search, cognitive insights and cognitive commerce. In simpler words, cognitive cloud can understand what customer needs and translate this into valuable data for retailers, with visible results – increase conversion rates and enhance customer satisfaction.
By combining human intelligence with artificial intelligence, cognitive computing has enabled a new and improved approach, that helps major industries to improve productivity and understand their customer behavior. The results? They are right in front of us!
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