In part one I examined the connection of KM and AI and how this connection has led the way for cognitive computing; while in part two I examined those industries that will or are soon to be disrupted by Cognitive Computing.  In this post I will examine those technologies that will lead in the disruption brought to many industries by the way of cognitive computing.

Cognitive computing is the simulation of human thought processes in a computerized model. Cognitive computing involves self-learning systems (Artificial Neural Network machine learning algorithms) that use data mining, pattern recognition and natural language processing to imitate how humans think. The goal of cognitive computing systems is to accelerate our ability to create, learn, make decisions and think.

According to Forbes, “cognitive computing comes from a mashup of cognitive science and computer science.” However, to understand the various aspects of this mashup we must peel back the various components of cognitive computing. These components are centered within AI and KM. The components of cognitive computing enable these applications to be trained in order to recognize images and understand speech, to recognize patterns, and acquire knowledge and learn from it as it evolves producing more accurate results over time.

Cognitive Technologies

Cognitive technologies have been evolving since I started developing AI applications (Expert Systems and Artificial Neural Networks) in the late 1980’s and early 1990’s. Cognitive technologies are now a prominent part of the products being developed within the field of artificial intelligence.

Cognitive computing is not a single technology: It makes use of multiple technologies and algorithms that allow it to infer, predict, understand and make sense of information. These technologies include Artificial Intelligence and Machine Learning algorithms that help train the system to recognize images and understand speech, to recognize patterns, and through repetition and training, produce ever more accurate results over time. Through Natural Language Processing systems based on semantic technology, cognitive systems can understand meaning and context in a language, allowing deeper, more intuitive level of discovery and even interaction with information.

The major list of cognitive technologies solutions include:

Expert Systems, Neural Networks, Robotics, Virtual Reality, Big Data Analytics, Deep Learning, Machine Learning Algorithms, Natural Language Processing, and Data Mining

Various cognitive technologies or applications are being developed by many organizations (large, small, including many startups). When it comes to cognitive technologies, IBM Watson has become the most recognized. IBM Watson includes a myriad of components that comprise the Watson eco system of products.

Companies Delivering Cognitive Solutions

Here are a few companies delivering cognitive solutions that take advantage of the cognitive technologies mentioned above as well as the industry they focus on.

Industry: Healthcare

Welltok: Welltok offers a cognitive powered tool called CaféWell Concierge that can process vast volumes of data instantly to answer individuals’ questions and make intelligent, personalized recommendations. Welltok offers CaféWell Concierge to health insurers, providers, and similar organizations as a way to help their subscribers and patients improve their overall health.

Industry: Finance

Vantage Software : provides reporting and analytics capabilities to private equity firms and small hedge funds. The company’s latest product, Coalesce, is powered by IBM Watson’s cognitive computing technology. This is an example of a company developing a software platform and using IBM Watson’s API’s to provide cognitive capabilities. This product addresses the need to absorb and understand huge volumes of information and use that information to make split-second, reliable decisions about where and when to invest client funds in a highly volatile market.

Industry: Legal

One of the major impediments to quality, affordable legal representation is the high cost of legal research. The body of law is a growing mountain of complex data, and requires increasingly more hours and manpower to parse. Lawyers are constantly analyzing data to find answers that will benefit their clients. For law firms to stay competitive they must find ways to cut cost and streamlining legal research is one way to do just that.

ROSS Intelligence: software is built on the Watson cognitive computing platform, ROSS has developed a legal research tool that will enable law firms to slash the time spent on research, while improving results.

AI & Blockchain

Detailing AI, KM and Cognitive computing would not be complete without adding blockchain to the technologies that will disrupt several industries. Functionally, a blockchain can serve as “an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way. The ledger itself can also be programmed to trigger transactions automatically. AI & Blockchain come together when analyzing digital rights. For example, AI will learn the rules by identifying actors who break copyright law. The use of AI applications will be extended by incorporating blockchain technology. When blockchains scale to encompass big-data, AI will provide the query and analysis engine to extract insights from the blockchain of data.

Cognitive technology solutions can be found in a number of applications across many industries. These industries include but are not limited to legal, customer service, oil & gas, healthcare, financial and automotive just to name a few. Cognitive technologies have the potential to disrupt Every industry and Every discipline — Stay Tuned!!