Growing Volume of Technological Advancements Propel the Cognitive Computing Industry Forward

The advent of artificial intelligence has resulted in numerous technological developments in recent years. One of the AI-related fields that are becoming popular and promises to take the current digitized economy to the next level is cognitive computing. It makes use of machine learning and reasoning, natural language processing, speech recognition, and data mining processes such as AI; however, it takes things to the next level. Cognitive computing technologies can grasp and manage vast amounts of data, apply reason, gain insights, and constantly learn when interacting with individuals and machines. They provide us with a great opportunity to make smarter and more informed decisions.

The market for cognitive computing is growing rapidly. Driving it are factors such as the increasing volume of large complex data and the growing trend of increasing cloud-based services, big data analytics, and harnessing the internet speed. As per Allied Market Research, the market generated $13.8 billion by 2020, thereby growing at a CAGR of 33.1 percent during the forecast period, 2015 – 2020.

More and more players are looking to expand the field of cognitive computing and investing aggressively in such solutions. For instance, in October 2018, ArisGlobal, a leading provider of cloud-based software solutions, unveiled its cognitive computing-enabled LifeSphere MultiVigilance (LSMV) Platform, which is built to simplify safety case processing and bring significant cost savings. In April 2019, Microsoft announced the expansion of its cognitive services, namely Anomaly Detector and Custom Vision. In May 2019, an innovation hub was opened at the University of the West of Scotland (UWS), Paisley campus. The hub offers courses on cognitive computing and more to the staff so that they can develop student skills in those areas to prepare them for future jobs.

ArisGlobal Launches Cognitive-Powered Platform

LifeSphere MultiVigilance, the new platform by ArisGlobal was built in partnership with leading pharmaceutical companies and regulatory agencies. Run by the company’s cognitive computing engine, LSMV is developed for individual case safety report (ICSR) intake and features the latest technology architecture for the cloud having the robotic automation and cognitive computing technologies such as natural language processing (NLP) and machine learning. It also has product quality complaints and medical information management integrated into it, which helps deliver a new dimension on compliance with a smooth exchange of safety cases between these functions. Sankesh Abbhi, President and CEO at ArisGlobal said, “LifeSphere MultiVigilance is the only production-ready, cognitive computing enabled, case intake platform available today that can integrate with any type of safety system. This platform not only simplifies safety case processing but also leads to significant cost savings for all marketing authorization holders. We believe this platform is a game-changer for the industry, as our customers will achieve cost savings greater than 30% with higher data quality and compliance.”

Microsoft Expands Its Cognitive Services

The availability of cognitive services such as Anomaly Detector and Custom Vision was announced by Microsoft recently. Anomaly Detector is a service within the Azure Cognitive Services family which enables users to identify odd patterns or events in their data that could lead to issues, thus providing high data accuracy and identification of incidents as soon as they occur. According to Microsoft, many teams across Azure, as well as other Microsoft products, employ the anomaly detection capabilities to enhance their systems by identifying irregularities in real-time. Microsoft’ Custom Vision service makes use of machine learning and allows developers to quickly develop, install, and enhance custom image classifiers to identify content in images.

Fujitsu Innovation Hub Opens at the UWS

Opened as part of Fujitsu’s dedicated Education Ambassador Program for Scotland, the innovation hub was launched in the University of the West of Scotland. The hub gives priority to technology and helps enhance the skills of staff including next generation of nurses, social workers, teachers, and more so that they can teach students the skills needed to grow and survive in the workplace of the future. Implemented by Fujitsu along with Intel, NetApp and Ruckus Networks, the program allows students and staff to experiment with technology in a sustained environment and consists of a course in several areas such as cognitive computing, Internet of Things, virtual and augmented reality, cybersecurity, data analytics, and more.

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