IBM in a statement said it will train another 25,000 IBM consultants and practitioners on cognitive computing this fall.
Half of all consumers will interact regularly with services based on cognitive computing by 2018, said IDC recently.
Bridget van Kralingen, senior vice president, IBM Global Business Services, said: “Clients know they are collecting and analyzing more data than ever before, but 80 percent of all the available data — images, voice, literature, chemical formulas, social expressions — remains out of reach for traditional computing systems.”
IBM’s Institute for Business Value (IBV) said executives from the highest-performing companies place greater priority on cognitive capabilities than peers in market-following enterprises. The IBM survey of more than 5,000 C-suite executives will be out shortly.
The same survey from IBM said that 65 percent of insurance industry CXOs is pursuing some form of business model innovation, but nearly 30 percent feel the quality, accuracy and completeness of the data in their organization is insufficient. Nearly all said they intend to invest in cognitive capabilities.
60 percent of retail executives do not believe their company is equipped to deliver the level of individual experiences consumers demand, and 95 percent say they will invest in cognitive in the next five years.
Healthcare industry forecasts a 13 million person gap in qualified healthcare workers by 2035, and more than half of healthcare industry CXOs report that current constraints on the ability to use all available information limits their confidence about making strategic business decisions. 95 percent of healthcare industry leaders plan to invest in cognitive over the next five years.
IBM developed a cognitive solution for a retailer to analyze the client’s data from multiple external sources — including local weather and up-to-the-minute social sentiment — to sense deviations in demand for selected products, make recommendations in areas from replenishment to pricing and dramatically improve demand forecasting.
The cognitive systems of a provider of consumer insurance use Watson natural language capabilities to answer questions and provide advice about the company’s products and services to create a more compelling online experience.
IBM is working with healthcare organizations to apply the technology in genomics to advance cancer care by accelerating DNA analysis for personalized treatment options.
IBM is working with financial services clients to apply cognitive to better manage risk and provide personalized guidance and investment options.
Education segment is using cognitive technology to personalize academic instruction and enhance academic experiences for students and teachers.
IBM Watson is making $1 billion investment to advance cognitive innovations across industries.
Over the past year, IBM has tied-up with Apple, Twitter, The Weather Channel and Facebook, for unlocking new data sources to assist their global clients.