Artificial Intelligence, robotics and machine learning concepts are changing the parameters of data extraction and analysis. With the onset of digital transformation, there’s a great need to process huge volumes of data into useful insights.
But with traditional data analytic methods, businesses are not be able to process the entire data, especially that which is in the form of images, videos, and human voice, collectively known as ‘dark data’. To process such kind of data, organizations need cognitive computing.
Originally, the concept of cognitive computing comes from cognitive science which include study of human brain and how it works. Cognitive computing aims to stimulate the human thought processing in a computerized way. It achieves that with the help of various self-learning algorithms, Natural Language Processing(NLP), Machine Learning and Automated Reasoning.
Companies are trying to deliver AI and cognitive based solutions to help organizations deal with various structured and unstructured data sets.
Companies are trying to deliver AI and cognitive based solutions to help organizations deal with various structured and unstructured data sets.
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Companies like Facebook and IBM are rolling out new cognitive and AI solutions for better data analytics. Facebook’s team of researchers from FAIR (Facebook Artificial Intelligence Research), have reportedly introduced new capability to dialog agents – the capability to negotiate. Per them, the dialog agents with differing goals can participate in start-to-finish negotiations with other agents or people to arrive at common decisions or outcomes.
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On the other hand, IBM has launched a suite of cognitive computing solutions with an objective to help financial institutions manage their regulatory and fiduciary responsibilities. The suite is powered by Watson which can be deployed on the IBM Cloud. It will help the financial professionals to – understand the regulatory requirement, deliver increased insights into current or potential financial crimes and manage the financial risk with new architectural data approach.
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Organizations need more such cognitive and AI enabled smarter solutions and tools for their digital transformation.
