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Data's Big Leap: Cognitive computing is poised to extend the capabilities of people and organizations.

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We’ve anticipated it for years, and now it’s becoming reality: Emerging technologies are finally able to emulate and augment the power of the human brain. That has big implications for the business world, which is still coming to terms with the opportunities presented by the enormous amount of data pulsing through markets, individual businesses, and more. Conventional technology is not up to the task of extracting the full value of this mountain of data. But the promise of cognitive technology solutions is clear.

For more, visit http://www2.deloitte.com/us/en/pages/deloitte-analytics/solutions/cognitive-analytics.html?id=us:2sm:3ss:cognitive:eng:da:042717

Published in: Business

Data's Big Leap: Cognitive computing is poised to extend the capabilities of people and organizations.

  1. 1. Data’s Big LeapCopyright © 2017 Deloitte Development LLC. All rights reserved. 1 www.deloitte.com/us/cognitiveadvantage
  2. 2. Data’s Big LeapCopyright © 2017 Deloitte Development LLC. All rights reserved. 2 Businesses laboriously collect metrics such as social media likes, online surveys, and website engagement. Using man-made hypotheses, analytics programs mine the data for trends and segment customers into groups. Tapping massive pools of data (including formats such as voice and video), cognitive computing uses large-scale statistical analysis to create detailed consumer profiles, helping improve customer engagement and retention. Analytics programs monitor equipment and track repairs, inventory, and costs. These methods use limited, infrequently updated data. Automation has largely been limited to deterministic activities that don’t require human expertise. It hasn’t been able to perform such knowledge-intensive tasks as processing health care claims, underwriting insurance contracts, writing and translating texts, and recommending information and products. Continually streaming equipment sensor data is harnessed to identify anomalies and failure patterns in real-time. From monitoring wear and tear of heavy machinery to assessing property condition via drone-enabled vision services, businesses now have the information to address problems before they happen. By generating “digital breadcrumbs” that train precise statistical models, machine learning products can automate routing tasks that previously required human expertise. This frees up people to perform more complex tasks requiring common sense, creativity, empathy, or ethical reasoning. www.deloitte.com/us/cognitiveadvantage

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