When IBM Watson made its public debut back in 2011 on the Jeopardy! game show, average viewers were stunned at its ability to quickly decipher and answer questions. Its two human competitors were cleanly defeated, and the world had a glimpse into the future of cognitive computing.
Today, cognitive computing systems impact every area of our lives, from travel, sports and entertainment, to fitness, health and wellness—including the health of our pets. Here, we’ll showcase five trailblazing companies using cognitive computing and artificial intelligence (AI) in various industries.
5 Real-Life Examples of Cognitive Computing Products
The entrepreneurs of today are looking for ways to leverage cognitive computing applications in a wide variety of industries. These innovative business leaders are looking for ways to improve upon technologies offered by companies that have created products and services based on machine learning and AI. Their business models show some of the ways these technologies will transform our lives in the future.
Challenge: Providing accurate, fact-based investment recommendations
Choosing a well-performing stock has traditionally been a guessing game for many investors. With the help of machine learning and artificial intelligence, investors can feel more confident in their investment decisions.
Vantagepoint AI was recognized for its artificial intelligence trading software used by over 29,000 traders around the world and awarded the 2019 Most Trusted Online Trading Solution by Global Business Insights.
Vantagepoint is considered a leader in investment trading software research and development and has been shown to forecast stocks in twelve U.S. sectors including Energy, Financial, Healthcare and Technology as well as stocks around the world. This tool can forecast stocks, futures, commodities, Forex and ETFs with accuracy of up to 86%. According to Vantagepoint’s website, its patented Neural Network processes predict changes in market trend direction up to three days in advance, enabling traders to get in and out of trades at optimal times with confidence.
Challenge: Providing access to reliable, up-to-date health and benefits information
If erroneous health information on the internet weren’t prevalent enough, new — and often conflicting — health research is being published every day. These realities make it difficult for many people to find accurate answers to their medical questions.
Welltok offers a cognitive-powered tool called Concierge that can instantly process vast volumes of data to answer questions and make intelligent, personalized recommendations. Welltok offers Concierge to health insurers, providers and similar organizations as a way to help their subscribers and patients improve their overall health.
Welltok’s Concierge is an AI-powered chatbot that was built with IBM Watson Health and provides on-demand answers to questions about benefits and healthcare costs. It can deliver thousands of conversational responses based on consumer information. Welltok spent years training Watson technology on key topics to help provide reliable, science-based, self-service healthcare answers.
Industry: Veterinary Care
Challenge: Helping veterinarians diagnose and treat illness in their patients
Cognitive technology isn’t just helping humans; it’s also helping veterinarians take better care of the pets and animals that are brought into their practices. While many applications and resources have been made to address human health, there weren’t many effective solutions that helped veterinarians quickly access the latest and best veterinary medical research to help diagnose and treat their patients.
LifeLearn offers a clinical decision-support tool for veterinarians called Sofie that leverages the IBM Watson platform to search a vast knowledge base of the most current, credible and trusted veterinary resources in animal health. This AI-powered assistant allows clinicians to ask questions on desktop and mobile devices anywhere at any time, meaning that even veterinarians in the field can access information, including those who service large animals on rural farms.
Edge Up Sports
Industry: Sports & Entertainment
Challenge: Helping coaches, personal trainers and fantasy football enthusiasts
Edge Up Sports made a name for itself by helping some fantasy football players gain an advantage on the competition by leveraging cognitive technology applications to help them draft and manage their teams. Its mobile app allows users to ask questions such as, “Do the Packers play better on grass or turf?” or “Are the Vikings defensive players healthy this week?” The app sorts through a wealth of data, news reports, social media comments, weather reports and more to provide answers that can help fantasy football team players make more informed decisions.
Edge Up is moving beyond entertainment and is now leveraging AI to help reduce sports injuries on the field. The company is piloting a program to use sensor-tracking cameras on athletes that translate their movements into performance insights for athletic trainers, players, and coaches to systematically deliver health and activity insights to reduce injuries and improve performance.
Industry: General Business
Challenge: Finding actionable information in document management systems
Many organizations have implemented an Enterprise Content Management (ECM) system or other document repository technology to store, organize and secure the vast amounts of data and documentation that’s accumulated in today’s business environment. Even with the robust functionality these systems provide, there is often hidden, dark data that often goes untapped that can be used to make better business decisions.
The AskGordy application uses the power of IBM Watson to discover hidden data. It does more than merely provide results based on matching keywords; its cognitive computing capabilities can interpret even the most complex questions and help determine the intent and context of inquiries. Users can provide feedback to the application, allowing its machine learning capabilities to improve and “get smarter” every time it’s accessed. Users can type or speak their query into the AskGordy application across multiple devices, including desktop and mobile, making it accessible anywhere.
Get Started Today
Today, many of these apps seem revolutionary, but these types of interactions are becoming commonplace. Entrepreneurs who want to take advantage of the opportunities offered by cognitive computing need to get started now if they want to stay on the leading edge of their industries and gain a competitive advantage.
The Watson Developer Cloud enables developers and startups to quickly get started building with cognitive technology, no matter their business model or size. In particular, you can learn more about how AskGordy can help your organization by checking out the AskGordy: Artificial Intelligence Comes to Enterprise Content Management whitepaper below.
At the Gordon Flesch Company, we’re on the forefront of cognitive computing technology and can provide solutions for all your computing needs. Contact us today for a free consultation.