On the heels of digital trends that are starting to mature, the next wave beyond digitization has begun. The combined impact of AI, blockchain, automation, IoT, 5G, and edge computing is reshaping standard business architectures. To prepare for this future, you need to adopt a new business model, one that we call ‘The Cognitive Enterprise.’ In other words, you need to start implementing cognitive technology to match up to the digital competition.
No doubt, this shift from experimentation to scaling is a massive undertaking. But the business benefits are huge!
Are you prepared for this cognitive enterprise-led future?
What is Cognitive Enterprise?
Cognitive enterprise leverage cognitive computing by harnessing exponential technologies like,
- natural language processing,
- machine-learning algorithms,
- augmented intelligence, and
- real-time computing to design human-brain-like abilities, but much more advanced and quicker.
Implementing cognitive technology means embracing data and technologies that enable your workforce to perform efficiently. In short, implementing cognitive technology will help you solve problems quickly with greater efficiency.
Today, most of the enterprises have already started implementing cognitive technologies – in terms of automating their marketing, service, and other business processes.
Top 4 business benefits of implementing cognitive technology
1. Simplified business processes and workflows
By implementing cognitive technologies, you will be able to analyze emerging patterns, spot potential business opportunities, and also manage critical process-centric challenges in real-time.
In addition, a cognitive system can examine heaps of data, simplify processes, and also mitigate risks as per the changing circumstances. Thereby, creating lean business processes and preparing your enterprise to respond to unforeseen challenges.
The big advantage of implementing cognitive technology is that – it helps you digitize and automate your workflows – which by the way is the need of the hour! Cognitive computing technology is a huge boon – as it simplifies business processes and ensures to keep your business running with greater results. For instance, be it chatbot technology, asset management systems, digital workflows, cognitive business platforms, and much more.
2. Accurate and quality data-analysis
Cognitive systems are highly-efficient when it comes to collecting and cross-referencing data in order to analyze any situation effectively. For instance, in the healthcare industry, cognitive systems such as IBM Watson help physicians to collect and analyze data from various sources, like -prior medical reports, medical journals, diagnostic tools, and so on…Moreover, Instead of replacing doctors, the cognitive computing system applies robotic process automation to speed up the data analysis process. Thereby, providing valuable data insights that aids in making strategic business decisions.
To add on, the data insights that you get by implementing cognitive technology can help you in many ways, like – predicting an error that one of your machines may face in the near future, analyzing machine’s health, and most importantly, tracking scope for further business improvements.
3. Improved employee productivity and capabilities
Implementing cognitive technology will help your workforce to do their jobs better and faster. It simplifies the work process for your workforce, making their life and yours’ better.
Because, cognitive systems will take over most of the routine and repetitive tasks, your employees can now focus on more crucial and revenue-generating tasks.
To add on, cognitive solutions offer intelligent interfaces that enable your employees to make use of data in meaningful ways – which might come handy to them while making major business decisions. Also, cognitive solutions ensure your employees get the data they are looking for without having to fight for it.
4. Better customer interaction and experience
Coming to the most crucial point, the cognitive system organically integrates customer-focused teams, with operation staff to analyze workflows to achieve new levels of agility and customer experiences.
Did you know? As per the latest IBM study, up to 90% of stored data remains unused. That is a lot of lost information. A great advantage of implementing cognitive technology is that – it ensures none of the data goes waste. And, will also help you know what the customer expects before they do. That is, cognitive enterprise solutions will bring a layer of understanding to the data that isn’t there. This means cognitive systems will collect all the data pertaining to customers. So that you can interpret and make use of them in order to arrive at intelligent business decisions.
Like digital transformation, the cognitive enterprise is an endless evolution – one where an agile methodology, mindset, and leadership team are fundamental.
Implementing cognitive technologies will help you automate business processes and gain valuable data insights that you can use to make high-quality predictions and improve your overall business operations.