Gone are the days when cognitive technologies were a mere futuristic possibility. Instead, they are fast becoming a reality of the present. Machines that trigger workflow, source information for users and auto-escalate are increasingly becoming in-demand for many industries. And if your organization is not on board, it might be time to start thinking about the ways cognitive technologies can be utilized at your own company.
In a recent survey, IDG, the world’s leading technology media, data and marketing services company, found that information management, personalization and proactive problem-solving are the key benefits users are searching for when approaching cognitive technologies. Read more here.
I am proud to announce that to further research and development into this subject, Stefanini and IDG are joining forces around the topic of cognitive platforms. Check out the video below for an overview of my takeaways from IDG’s survey.
More than 70 percent of IDG survey respondents are already using cognitive technologies for one or more purposes, with 63 percent of responders drawing up implementation plans over the next twelve months.
Drivers of interest in cognitive technologies include:
Improving customer experience (e.g. improving quality, speed to market, anticipating needs, etc.) – 54 percent
Improving user/employee experience (e.g., improving productivity, work-life balance, etc) – 44 percent
Reducing operational costs – 40 percent
Improving accuracy and/or speed in decision making – 36 percent
Modernizing/transforming business processes – 36 percent
Keeping up with competitors in our industry – 34 percent
Further, investment in cognitive learning technologies is steadily increasing for the majority of organizations surveyed, with 85 percent of respondents reporting that they’ve begun to allocate more toward this purpose.
On average, 16 percent of the surveyed organizations’ budgets are dedicated to investments in cognitive technologies. 55 percent of respondents also note that they’ve allocated slightly more of their cognitive technologies budget to long-term business transformation, while 45 percent have dedicated their budget to short-term goals.
Fabio Caversan, Stefanini Artificial Intelligence Research & Development Director, North America, notes that since AI projects designed to transform business processes often require custom machine learning algorithms, it takes significant time and money to prototype and test, explaining respondents’ focus on long-term business transformation.
The survey also found that respondents specify better information management (49 percent), personalization (39 percent), and proactive problem solving (34 percent) as areas in which they think cognitive technologies will provide the most value. 80 percent of those surveyed say that a virtual agent based on cognitive computing and artificial intelligence with natural language capabilities would be very or extremely valuable, particularly for improving customer experience, increasing productivity, and creating cost savings.
Respondents say they would most likely use a virtual agent for answering customer questions, processing orders, and assisting employees with internal tasks.
How can we help?
Stefanini and IDG are very aligned on the cognitive technologies subject overall. We have here at Stefanini our own digital transformation strategy offer as well as our complete portfolio of cognitive technology that includes AI, VR, AR, machine learning, RPA and a virtual agent.
Sophie, Stefanini’s artificial intelligence platform and virtual agent, is designed with a focus on self-adaptation and contextual automation, allowing for self-learning, human-like interactions and self-healing capabilities. The development of Sophie follows the trend that more companies are demanding technologies that use deep natural language, answer questions, and provide recommendations. She assists with most high-volume, repetitive tasks, helping companies to improve their services and user experience by satisfying the need for constant customer support, reducing request handling time and providing detailed, actionable records of customers’ greatest pain points.
While Sophie is a considerable leap forward for Stefanini, she is simply a marker for the great things that are to come, both for the company and the future of cognitive technologies.
If you want to talk about the results of this IDG survey, how Stefanini is working with the market and our customers on this strategic point, or if you want to discuss some of the possibilities for your company, how to implement cognitive technology and the benefits you can collect today, don’t think twice – reach out to Stefanini through our website or contact us.
*Connect with Spencer on LinkedIn here.