Technology Strategy & Implementation Insights
Boost business success via insights on emerging trends in digital transformation and IT strategy; practical frameworks you can apply; and guidance from the world’s experts in leadership, IaaS, investment prioritization, operational excellence, sustainable innovation, change management, enterprise agility, and applying emerging technologies.
Connected consumer devices and Industrial Internet applications can generate incredible amounts of data from sensors and other operations — data that can be difficult to process using traditional data management and BI tools due to the diversity and size of the data sets involved. Achieving business value from this massive data stream requires the use of big data storage and analysis technologies that can scale to meet the constantly increasing demands placed on organizations.
Digital transformation occurs in economies, sectors, and industries. Businesses can choose to embark on a journey that makes them more than just mere observers of the transformative changes. So what happens on this journey? And how can the businesses transform?
In essence, a Jeopardy!-playing application posed two different problems: understanding natural language (NL) so as to be able to identify the right question and then searching a huge database of general information for an answer that fit the question. Searching a huge database quickly was a more-or-less physical problem, but parsing general questions in English and then determining which of several possible answers was the right match for the question being asked were serious cognitive problems.
I think I have finally have come up with a good theory to explain why there have been so many stories of government projects in trouble recently: the inhabitants of Talos IV are managing them.
Part I in this two-part Executive Update series covered the use of cognitive systems in banking and finance in three application domains: (1) research and discovery; (2) business intelligence (BI), advisory, and decision support; and (3) risk assessment, compliance, and fraud prevention. This Update expands on the topic and examines the use of cognitive technologies in banking and finance for enhancing customer service and customer experience management.