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Cognitive business operations: How to get a jump start

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In the cognitive era, today’s digital efforts have become mainstream. 71 percent of executives expect digital activities to grow the top line. 46 percent of digital business investments in 2015 were led by the CEO. 80 percent of all data is dark data–it is unstructured, non-sampled and can’t be used by existing systems. By 2020, 93 percent of data will be dark. The next step forward is for businesses to understand and anticipate client needs better, self-learn and adapt to provide innovative value and empower employees with unparalleled knowledge.

Cognitive advances in healthcare

Cognitive computing is already playing a key role in many industries such as banking, finance and healthcare. Now and in the future, access to dark data in the healthcare industry will be essential to help people with chronic conditions more effectively manage their health. In the case of avian flu or the zika virus, cognitive holds great potential for researchers to address complex challenges. Cognitive can allow farmers easy access to information resources that could help them protect their flocks and manage an outbreak.

Cognitive will also improve clinical support for patients and business processes such as claims, billing and call center activities. Telemarketing and call centers will greatly benefit from this data, as the technology can interface directly with service representatives, agents and customers. Cognitive will ultimately transform the way companies engage with customers and create a better overall experience.

Applying cognitive technology to your life

Digital insurance is driving the reinvention of underwriting with real-time driver monitoring, instead of traditional underwriting which would use a customer’s driving record to determine risk. Digital healthcare improves patient care and the patient experience by applying real-time decisions for room availability, readiness of patient rooms, spikes in room admission, prediction of room availability and management of nurse-to-patient ratios. Digital marketing is at the center of action on the real-time behavior of customers.

So where do you get started? With your existing processes! See in action how cognitive is within your reach today. For example, your customer service department probably receives thousands of emails. Each email is read and categorized manually and then sent on the appropriate route for resolution. Your firm may receive notifications from news services via websites, email and spreadsheets. This impacts what equities they can trade, how they can trade and the potential impact to in-flight trades. Improved reaction time to changing market conditions with automated monitoring and response to information within news stories, emails and spreadsheets is within your reach!

Infusing cognitive capabilities into day-to-day business operations is now a reality. Applying cognitive technologies to process automation and enhancing human knowledge with machine learning breathes new life into business processes and decisions.

Start your cognitive business operations journey today!

dariotile

WW SWG Marketing Director - AIM

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