The era of technology has created new vocabulary: machine learning, Robotic Process Automation, disruptive technology … just to name a few. One buzzword used in the artificial intelligence community is “cognitive computing.” What is cognitive computing, and how can it shape our future?
Cognitive Computing Defined
Chatbots Magazine defines cognitive computing as: “Self-learning systems that use machine-learning techniques to perform specific, human-like tasks in an intelligent ways.” Simply put, the evolution of computing has produced machines that think and behave like humans. Tasks like responding to email, holding conversations (verbally or in text format), or driving cars are examples we see today.
Demand for Cognitive Computing
With the mass proliferation of technology, the need for cognitive computing has grown exponentially. Since 2011, as the amount of Big Data has exploded, so has the need for tools, software, and systems that can extract, classify, analyze, and apply this data.
According to CMFE News, the global cognitive computing market stood at $29.67 billion in 2016. Growth from 2017 to 2025 is projected to rise nearly 50%.
Cognitive computing is already in use by several industries and for many applications. A few examples for now and future uses include:
- Medicine: computing analyses trends in your health vitals and predicts disease or identifies risks of chest pain before you have chest pain.
- Customer Service: a cable company automatically notifies you before your cable goes out, based on historical risk factors (weather, bandwidth, etc.).
- Marketing: based on previous reading or shopping habits, a customized web experienced can be tailored to you (relevant articles, recommended products, etc.).
- Retail: companies learn about you and your likes to better communicate and serve your wants (Stitch Fix does this with complex algorithms that pick clothes for you).
Criteria for Cognitive Computing System
Maruti Techlabs’s criteria for cognitive computing system includes four features that must be met.
The system has to think like the human brain. It has to be able to adapt to and learn from its environment.
The system needs to interact with users and processors. It must be able to comprehend the requests and needs of these different entities.
- Iterative and Stateful
To guarantee adequate information and up-to-date, trustworthy data sources, the system must apply quality and validation methods. It also must remember previous interactions and apply outcomes to present interactions.
The system must be able to comprehend, identify, and extract meaning, syntax, time, location, domain, regulation, user profile, process, tasks, and goals.
Companies Invested in Cognitive Computing
It is no surprise that some of Silicon Valley’s biggest companies are all considered major players when it comes to cognitive computing.
With greater access to technology and the learnings found by tech giants, smaller companies are finding success with cognitive computing. Following these heavy hitters, are numerous other companies with similar skills and services. In fact, BigDataQuarterly compiled a list of 33 businesses involved in cognitive computing, and not all are names you recognize.
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