Yesterday I wrote a post on the Future of Cognitive Business. After I posted I realized that even though many might know and understand the word Cognitive, the term Cognitive Business might need some further explanation. Earlier I have written about the word Cognitive as well.
A good start could be to listen to Ginni Rometty, CEO and Chairman at IBM. In short words, her explanation:
“Cognitive Business = Digital Business + Digital Intelligence”
Often Cognitive Business is talked about in the same sentance as Watson and / or Artificial Intelligence, but lets put that aside for now and give the term Cognitive Business some real thought.
As the IBM CEO states it is the combination digital business and digital intelligence. For me that sounds a bit too easy and especially we might associate those terms with differnent things and they are also a bit buzzwordy. I also do not understand why the use of Digital is used. Business today is not a digital or not digital. Digital is a part of every business independent of if you consider your business being digital or not. I would even go further and claim that the business that will have the most benefit from being a cognitive business are those who are more traditional and less “digital”, the opportinity within healthcare, the legal system, financial sector etc etc is much larger then with the ones already fully digital. A cognitive business will be able to leverage information that they previously could not. That is a huge opportunity.
For me Cognitive Business is a true evolution and the reason for that is simple. We will be able to do our work much better then before. That maybe sounds to simple of a answer, but I will stick to it. We will be able to get happier customers, know our customers better, generate more sales, better marketing and better product development and research.
If my business (whatever it is) have become cognitive I will never forget anything, I will always have the support for making the right decisions, I will always be able to ask for facts and get the reasoning for those answers, I do not have to go to a database or a SAP like system, I will be able to leverage information that have been impossible to leverage before, I will most probably just have to grab my smartphone (or other device) and simple speak into the mic and the reply is real-time (currently a delay is actually programmed so that the real real-time delay does not scare us).
Instead of writing an extremely long post about all different examples I decided to start a series of post on the topic, so expect post starting Monday that describes how a cognitive business look in the following areas:
- Internal Collaboration, Information sharing and finding expertice
- Research and Development
- ….and maybe some additional one.
First post in the series will be posted on Monday and include how a cognitive buisness will look in the area of collaboration, knowldge and information sharing as well as finding the right expertise.