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Considering the rising trends for technology like cognitive computing and systems is an appropriate approach to stay updated and relevant in the market. Where every technology is tending to become more human it is wise to keep an eye on the programme which mimics the functioning of a human mind and enhances human engagement, personalization, knowledge-processing, etc.
Moreover, the cognitive system comprises – psychology, philosophy, computer science and linguistics which are essential for the humanization of machines. Using NLP and ML it helps establish better communication between machines and humans.
According to a new research report, the global cognitive systems market was worth US$ 4.7 million in 2018 and it is anticipated to reach a value of US$ 12.5 million by 2024, at a projected CAGR of 17.7 percent over the forecast period of 2019-2024.
With the upsurging marketing, there emerge a number of trends, useful and usable by business leaders for driving innovation and excellence. As noted by Tech Funnel, "with greater analytical power and intuitiveness, cognitive systems trends have the potential to disrupt the ways that many companies do business and communicate information with customers."
Here are some of the recent cognitive systems trends.
Where data is on the rise and a lot of it is being absorbed, process, and interpret as a finance professional in the service of clients, discovering new ways to approach and manage finances is among the top priorities for many cognitive computing professionals. One of the most notable apps that can help investors is Vantage, powered by Watson, the famous cognitive systems AI software. Financial managers will continue to benefit from cognitive programs like this, which can examine millions of documents and data factors to provide users with the best information.
The advents of cognitive systems are at the rise in the healthcare and wellness industry. Imagine a medical assistant that could synthesize and interpret medical research, studies, and textbooks and provide people with personalized care suggestions. With cognitive systems, this imagination can turn into reality and could be the future of healthcare. One software company is leading the pack in this cognitive systems health care trend – Welltek's CafeWell. They currently work with insurance companies, employers, care providers, and similar places to help users optimize their health with personalized guidance.
The advancements of technology have already disrupted the travel industry with great boom and have further simplified the travel-planning process without having to rely on travel agents. Platforms like, Travelocity and Expedia provide customers with airline rates, hotels room options, car rental packages, and more. But planning experience is very client-driven and still feels very much like interacting with a digital database. What if the experience was a little more personalized and require even less price comparison? Cognitive-powered travel concierges could soon become mainstream, allowing travelers to ask questions about travel and offering customized data based on available travel data and individual customer travel preferences.
Have you ever thought of digital personal trainers? Well, it's not far away. Through cognitive computing, fitness-minded clients can be helped with developing personalized fitness plans and track progress towards their goals, much like any gym trainer can. The apps powered by this technology would be able to learn from clinical research and track every user's data to find out what works for them. While robot personal trainers might still be a way down the road, certified trainers at gyms and studios could use this technology to better train their clients, providing more detail and customization for both a better success rate with clients and also a better relationship.
In an era of developing craze for autonomous cars, cognitive computing could make its way deeper into the transportation industry. This could lead to reduced accidents and improved environmental conditions. There is a lot of data available regarding transportation, particularly traffic accidents, highway construction, dangerous weather, and more. Cars with cognitive computing technology could easily synthesize all this available data and make use of it for the "driver" of the car. It would be like having a chauffeur connected to a cellular or wireless network who could make recommendations and avoid traffic jams and improve road safety.
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