The Rise Of Cognitive Computing

IDC forecasts that by 2020, half of all companies will use cognitive computing to automate marketing and sales interactions with customers. Cognitive computing is an attempt at simulating human decision making via a computer model that can use data mining, pattern recognition and natural language processing.

This is already being used in in telesales and simple email interactions, helping identify qualified leads and set up sales calls. But IDC predicts that cognitive computing interactions with customers will increase as algorithms become more sophisticated and IT customers realize the benefits of a saleable solution.  IDC points to solutions that are already in the marketplace, such as IBM’s Watson.

IDC suggests that business leaders become “conversant in new — often revenue-sharing — licensing models, particularly around third-party data.”