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Cognitive computing is the amalgamation of cognitive science and is established on the basic premise of simulating the generic thought process. Cognitive computing trends are a consistent flow of learning techniques that combines many disruptive technologies like AI and machine learning wrapped with sentiment analysis and contextual awareness to fix day-to-day problems, just like humans. These techniques employ different processes such as data mining, recognition of patterns, and language processing. Today top cognitive computing trends are experiencing a dramatic change as companies are getting more engaged in developing Artificial Intelligence (AI) and are competing in the market to get a step ahead. Cognitive computing trends can help us in realizing the potential of AI as it helps in imitating the activity of the human brain. Emerging top cognitive computing trends can be useful in developing an automated system for solving complex problems by itself. Here in this article, we will discuss the top 10 cognitive computing trends for 2023.
Cognitive computing trends in the Retail industry have entered as a game-changer. It helps the marketing team to gather more data and then analyze it to make retailers more efficient and adaptive. Cognitive computing trends guide companies to make more profit and offer personalized suggestions to customers. Cognitive computing trends have brought countless advancements to the industry. With demand forecasting, price optimization, and website design, cognitive computing has given retailers the tools to build more agile businesses. This is among the top 10 cognitive computing trends for 2023.
Cognitive computing in the banking industry will help to upgrade operational efficiency, customer engagement, and customer experience and grow revenues. Cognitive banking will completely reshape the banking and financial industry on three dimensions: Deeper contextual engagement, new analytics insights, and enterprise transformation. We are already enjoying examples of such transformation for tasks like performing various banking transactions digitally, opening a new retail account, and processing claims and loans in minutes.
'Smart Power' could be the new intelligent future. The oil and gas industry faces hard cost pressure to find, produce and distribute crude oil and its by-products. Also, there is a shortage of skilled engineers and technical professionals. For a long time, this decision was taken based on the data collected and stored and the expertise and intuition of the project team. With cognitive computing, technology functions volumetric data to support decisions and learn from those results. It will help in making various important decisions of the future like commercially viable oil wells, and ways to make existing power stations more efficient, and will also give a competitive advantage to existing power companies.
Cognitive Algorithms offer end-to-end security platforms and detect, assess, research, and remediate cyber security threats. It will be very much useful in preventing Cyber Attacks (or cognitive hacking). This will make customers less vulnerable to manipulation as well as provide a technical solution to detect any misleading data and disinformation.
Recent trends in cognitive computing have helped medical professionals to make better treatment decisions and improve the efficiency of the medical professionals and also improve the outcomes of the patients. Cognitive computing uses data mining techniques, visual recognition, and natural language processing, dependent on real-time patient information, medical transcripts, and other data. It functions an enormous amount of data instantly to answer specific questions and make intelligent recommendations.
Cognitive computing has become a game-changer in the education industry and transformed the way it has been working. It has already started bringing a few changes. Cognitive computing will change how schools, colleges, and universities have been functioning, and will help to provide personalized study material to students.
Cognitive computing has emerged as a key ingredient in the success of the news industry. When a user wants to read, listen or hear news — with the already embedded cognitive abilities in the device it can present the news in the form of text, image, or voice according to the user preferences. The latest news update, forums, weather forecasts, sports, politics, business, and finance are all using cognitive computing to present better results.
Cognitive Computing capabilities are also harnessed to produce Over-the-Top-Content for offering video-based content in the form of web series and movies. The cognitive technologies allow the learning and classifying the information from different organized and unstructured data may at times be cumbersome. Here cognitive computing helps to manage unstructured data and provide satisfying results.
The beauty care industry has also been swept up in the digital revolution and we find today an increasing number of leading beauty brands embracing emerging Cognitive computing trends to enhance the consumer's experience by providing personalization.
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