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Artificial Intelligence and Cognitive Technologies:
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.
