The most popular and comprehensive Open Source ECM platform
Cognitive technology attempts to mimic the functioning on the human brain by using language processing, deep learning, computer vision, data mining and pattern recognition. A recent report from Deloitte on cognitive technologies looks at how businesses are adopting them. Of the more than 1000 companies surveyed, more than one third have made more than $5 million investment in AI and cognitive technologies.
Three of the findings from the Deloitte report include:
- Early adopters of Artificial Intelligence report generally positive results and many are increasing their investments. Cloud-based AI offerings are particularly attractive to businesses because of lower start-up costs and low barriers for getting started.
- Early adopters also report that businesses need to have not only staff members with the right tech skills to do AI but also business leaders with a solid understanding of AI use cases. Many businesses have begun training programs to get their staff up to speed on the new technologies.
- To be successful, businesses that adopt AI and cognitive technologies need to also consider and address issues involving data privacy, ethics, and cybersecurity.