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Why are cognitive solutions important? — The need, importance and benefits

October 16, 2019 - EdgeVerve Team

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Intelligent Automation, Cognitive technologies, and Big Data — In today’s digital era, these buzzwords are hard to ignore. This blog explains what cognitive automation means, the need and importance of cognitive solutions in the digital world, and how can enterprises benefit by leveraging new, algorithmic technologies.

What is Cognitive Computing?

Often enterprises find themselves with limited information sources, resulting in gaps in data collection and insights. With cognitive solutions, enterprises can power a new generation of intelligent machines that collaborate with humans to perform wider tasks.

Cognitive solutions facilitate self-learning by leveraging machine learning models, business intelligence, NLP and neural networks. With a voluminous amount of unstructured data growing exponentially, from documents and emails to images and videos, enterprises are looking to make data-driven decisions more than ever.

How can businesses deal with the huge amount of data being generated? How can data play a major role in creating personalized experiences? Can data change the face of your business forever?

The answer indisputably is yes!

The need and importance of Cognitive Automation Strategies

Cognitive technologies are changing the way we perceive data, augmenting human intelligence and unleashing capabilities that we’ve never imagined before. The cognitive systems use Big Data analytics to analyze, interpret and learn over time, leading to breakthrough improvements in performance and scalability throughout the enterprise.

With extensive data analysis being a challenge, cognitive solutions can make use of algorithmic capabilities in Artificial Intelligence, Machine Learning and Deep Learning to open up new opportunities for scaling and driving innovation. These futuristic technologies are ushering in a new era of intelligence across industry sectors including, banking, healthcare, media and entertainment, the public sector, retail, technology, and agriculture, among others.

If you have large datasets which require collating information, reports, and data from disparate sources, cognitive computing can help. It identifies emerging patterns from the massive amount of unstructured data out there and helps business and IT leaders make better-informed decisions.

Keeping up with the ever-increasing flow of data can be daunting. With Robotic Process Automation, enterprises begin their automation journey automating repetitive tasks. With data analytics, businesses today can harness the power of cognitive computing, delivering incredible value and driving significant change enterprise-wide. As digital transformation makes greater inroads into our lives, bringing about a quantum shift in the way we think and act, enterprises are soon capitalizing on the human-machine collaboration. This human-machine collaboration will co-create the future workforce. Read what Automation Singularity as a concept means.

Benefits of Cognitive technologies

According to our Report On: Computer Vision and Cognitive Automation, modern Computer Vision and Cognitive learning solutions are critical in supporting enterprise digitalization. From supporting RPA in order to run automated solutions to using data to improve customer experience, cognitive solutions are benefitting enterprises in more ways than one.

Below are a few benefits of cognitive technologies:

Enterprises must draw out a clear strategy where leaders and employees at all levels embrace the new wave of technology, orchestrating end-to-end processes, streamlining business processes, and driving digital growth.

As per SSON’s 2019 Survey, the cognitive tools will not only help overcome the limitations of RPA (unstructured data) but also help to scale up its application (expand the possibilities of tasks/processes to automate). These are clear signs that change is in the air. Enterprises that employ a wait-and-watch approach fear the risk of falling behind and those that embrace the change will push ahead in the automation journey.

Conclusion

With a wide range of industry verticals investing in cognitive and AI solutions, process discovery, and data mining gaining prominence, it’s no surprise that enterprises are embracing digital transformation.

Our Report On: Computer Vision and Cognitive Automation states that where traditional OCR fails to accurately extract specific content from image-based documents, Computer Vision’s enhanced approach overcomes this gap by accurately detecting and narrowing down target objects within image-based documents. And that’s where AssistEdge comes into play.

With digital transformation taking place at an unprecedented rate, AssistEdge’s capabilities have been designed to power enterprises’ Cognitive Automation strategies. AssistEdge drives the automation experience forward with a host of other cognitive features, including advanced PDF controls and OCR capabilities to extract information from PDF documents faster and with a 15-20% improvement in quality and accuracy compared to other RPA tools.

Download our report — Enabling Intelligent Automation using Computer Vision to learn more about Computer Vision and Cognitive Automation.

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