Cognitive computing is starting to impact the enterprise by changing the way data is analyzed and the manner in which employees and customers interact with computerized systems. This is happening across various industries, ranging from healthcare and retail to banking and financial services. Since I have been delving into the financial area of late, I wanted to provide a glimpse into how banks and other financial institutions are utilizing cognitive applications and commercial solutions within their organizations. Key Drivers Key trends driving cognitive into banking and finance include: Massive data sets. Finance and banking firms are facing an increasing need to analyze very large data sets consisting of structured and unstructured data for exploration and discovery, Read more
Posts Tagged 'cognitive computing'
In the 1980s, everyone got excited about the possibility of artificial intelligence. The excitement grew for a few years and then gradually faded as companies found that it was too hard to build and maintain useful expert systems or natural language interfaces. However, there has been a renewed interest in developing software applications that can interact with people in natural languages, perform complex decision-making tasks, or assist human experts in complex analysis efforts. Today these systems are called cognitive computing systems or machine learning. They rely on research from artificial intelligence laboratories and use new techniques like deep learning and reinforcement which seem to overcome some of the problems that were encountered with earlier AI Read more
Cognitive computing is among the major trends in computing today and seems destined to change how business people think about the ways in which computers can be used in business environments. “Cognitive computing” is a vague term used in a myriad of ways. Given the confusion in the market as to the nature of cognitive computing, our recent Executive Report (Part I in a two-part series) describes what we mean by cognitive computing by exploring five different perspectives on the topic: (1) rules-based expert systems, (2) big data and data mining, (3) neural networks, (4) IBM’s Watson, and (5) Google’s AlphaGo. Here is a brief description of each. Rules-Based Expert Systems There have been other attempts to commercialize artificial intelligence Read more