Cognitive Computing And Artificial Intelligence - Coexisting Together, Behaving Differently
In the ever-developing technology, Cognitive Computing and artificial intelligence (AI) are terms that create their own space in the operations of organizations. While cognitive computing is based on decisions taken after human interference and inputs, artificial intelligence can understand situations and take decisions on its own.
While in artificial intelligence, it's the result that matters, cognitive computing reflects more of a process than a result. It would not be wrong for artificial intelligence to be called independent. However, cognitive computing requires human interventions. While researchers at Oneorigin have been using cognitive computing, some systems are also driven by AI.
Application By Industries
When we talk of their practical application, it is still in its nascent stage. There are a few areas where cognitive computing and artificial intelligence have been used effectively. The industries using them are banking, insurance, health care, and retail.
Applications of cognitive computing technology include natural language processing, machine learning, and image recognition. These applications allow computers to understand human speech, learn from experience, and interpret images. Cognitive computing can improve customer service by automatically responding to customer inquiries, and it can also be used to identify fraudulent transactions and other security threats.
Effective Decision-making
One of the main differences between cognitive computing and artificial intelligence is that cognitive computing can improve decision-making. For example, suppose a bank wants to offer a new product. In that case, cognitive computing can help identify patterns in customer data to recommend the best product for each customer, and AI can be used to automate decision-making like credit approvals.
Possibility of Errors
Both cognitive computing and Artificial intelligence are used to make decisions, but there are some key differences between the two. Cognitive computing is known for its accuracy, while artificial intelligence can cause more errors due to its reliance on algorithms. Additionally, cognitive computing can handle more data and scale more easily than artificial intelligence. In the future, cognitive computing will likely play a major role in artificial intelligence and machine learning.
Affecting Workforce
When we talk about the effect of cognitive computing and artificial intelligence on the workforce, it is still unknown. But it is speculated that cognitive computing will result in the loss of some low-skill jobs, and artificial intelligence will result in the loss of some high-skill jobs. However, it is also possible that cognitive computing and artificial intelligence will create new and different types of jobs that we have not yet imagined. There is enormous growth of tech-minded students earning advanced degrees in Artificial Intelligence which will lead to new developments and technologies, and therefore jobs that accompany them. The impact of cognitive computing and artificial intelligence on the workforce is still unknown and is something that we will have to wait and see.
Cognitive computing and artificial intelligence have different strengths and can be used together to improve decision-making and automate tasks in organizations. However, with the human intervention aspect, the scope of Ai For Entrepreneurs seems to be more elaborate than cognitive computing in the coming years.