Cognitive Technologies: The real opportunities for business
Because cognitive technologies extend the power of information technology to tasks traditionally performed by humans, they can enable organizations to break prevailing trade-offs between speed, cost, and quality. Explore where cognitive technologies can benefit your company.
A product of the field of research known as artificial intelligence, cognitive technologies have been evolving over decades. Businesses are taking a new look at them because some have improved dramatically in recent years, with impressive gains in computer vision, natural language processing, speech recognition, and robotics, among other areas.
How are cognitive technologies being used in organizations today? To answer this question we reviewed over 100 examples of organizations that have recently implemented or piloted an application of cognitive technologies. These examples spanned 17 industry sectors, including aerospace and defense, agriculture, automotive, banking, consumer products, health care, life sciences, media and entertainment, oil and gas, power and utilities, the public sector, real estate, retail, technology, and travel, hospitality, and leisure.
We found that applications of cognitive technologies fall into three main categories: product, process, or insight. Product applications embed the technology in a product or service to provide end-customer benefits. Process applications embed the technology in an organization’s workflow to automate or improve operations. And insight applications use cognitive technologies—specifically advanced analytical capabilities such as machine learning—to uncover insights that can inform operational and strategic decisions across an organization.