Cognition is the process of acquiring knowledge and understanding through

thought, experience and senses. Cognitive process use existing knowledge to

generate new knowledge. Cognitive computing is the use of computerized models
to simulate the human thought process in complex situations where the answers
may be ambiguous and uncertain. These systems are designed to learn at scale,
reason with purpose, and interact with humans naturally. Cognitive computing
makes use of artificial intelligence (AI) and other underlying technologies such as
expert system, neural networks, machine learning, deep
learning,nlp,speech,object,robotics. Most notably IBM ’s Watson, rely on deep
learning algorithms and neural networks to process information by comparing it to
a teaching set of data. Watson could eventually be applied in a healthcare setting to
help collate the span of knowledge around a condition, including patient history,
journal articles, best practices, diagnostic tools, etc., analyze that vast quantity of
information, and provide a recommendation.The doctor is then able to look at
evidence-based treatment options based on a large number of factors including the
individual patient’s presentation and history, to hopefully make better treatment
decisions.In other words, the goal (at this point) is not to replace the doctor, but
expand the doctor’s capabilities by processing the humongous amount of data
available that no human could reasonably process and retain, and provide a
summary and potential application.This sort of process could be done for any field
in which large quantities of complex data need to be processed and analyzed to
solve problems

working:Cognitive computing uses these processes in conjunction with self-

learning algorithms, data analysis and pattern recognition to teach computing
systems. The learning technology can be used for speech recognition, sentiment
analysis, risk assessments, face detection and more. In addition, it is particularly
useful in fields such as healthcare, banking, finance and retail. Using computer
systems to solve the types of problems that humans are typically tasked with
requires vast amounts of structured and unstructured data fed to machine learning
algorithms. Over time, cognitive systems are able to refine the way they identify
patterns and the way they process data. They become capable of anticipating new
problems and modeling possible solutions.

Features:

 Adaptive. These systems must be flexible enough to learn as information

changes and as goals evolve. They must digest dynamic data in real time and
adjust as the data and environment change.
 Interactive.  Users must be able to interact with cognitive machines and define
their needs as those needs change. The technologies must also be able to interact
with other processors, devices and cloud platforms.
 Iterative and stateful. Cognitive computing technologies can ask questions and
pull in additional data to identify or clarify a problem. They must be stateful in
that they keep information about similar situations that have previously occurred.
 Contextual. Understanding context is critical in thought processes. Cognitive
systems must understand, identify and mine contextual data, such as syntax,
time, location, domain, requirements and a user's profile, tasks and goals. The
systems may draw on multiple sources of information, including structured and
unstructured data and visual, auditory and sensor data.
Vantage Software
Investment managers have a complicated job.

They have to assimilate and comprehend enormous volumes of data and utilize it
to make split-second, dependable decisions about where and when to put the client
funds in an unpredictable market.

Vantage software gives a thorough analysis of private equity firms and small hedge
funds.

Vantage Software has launched a new product Coalesce, which is based on IBM
Watson’s cognitive computing technology.

Through that, we can examine millions of pages of documents, explore available

market intelligence, risk profiles, and financial profile data to provide better
information to analysts.

Advantages of cognitive computing

Advantages of cognitive computing include positive outcomes in the following
areas:

 Analytical accuracy. Cognitive computing is proficient at juxtaposing and

cross-referencing structured and unstructured data.
 Business process efficiency. Cognitive technology can recognize patterns when
analyzing large data sets.
 Customer interaction and experience. The contextual and relevant information
that cognitive computing provides to customers through tools like chatbots
improves customer interactions. A combination of cognitive assistants,
personalized recommendations and behavioral predictions enhances customer
experience.
 Employee productivity and service quality. Cognitive systems help employees
analyze structured or unstructured data and identify data patterns and trends.
Disadvantages of cognitive systems
Cognitive technology also has downsides, including the following:

 Security challenges. Cognitive systems need large amounts of data to learn

from. Organizations using the systems must properly protect that data --
especially if it is health, customer or any type of personal data.
 Long development cycle length. These systems require skilled development
teams and a considerable amount of time to develop software for them. The
systems themselves need extensive and detailed training with large data sets to
understand given tasks and processes.
 Slow adoption. The slow development lifecycle is one reason for slow adoption
rates. Smaller organizations may have more difficulty implementing cognitive
systems and therefore avoid them.
 Negative environmental impact. The process of training cognitive systems and
neural networks consumes a lot of power and has a sizable carbon footprint.
Application
 Healthcare. Cognitive computing can deal with large amounts of
unstructured healthcare data such as patient histories, diagnoses, conditions
and journal research articles to make recommendations to medical
professionals. This is done with the goal of helping doctors make better
 treatment decisions. Cognitive technology expands a doctor's capabilities
and assists with decision-making.
 Retail. In retail environments, these technologies analyze basic information
about the customer, along with details about the product the customer is
looking at. The system then provides the customer with personalized
suggestions.
 Banking and finance. Cognitive computing in the banking and finance
industry analyzes unstructured data from different sources to gain more
knowledge about customers. NLP is used to create chatbots that
communicate with customers. This improves operational efficiency and
customer engagement.
 Logistics. Cognitive computing aids in areas such as warehouse
management, warehouse automation, networking and IoT devices.

Cognitive Computing vs. Artificial Intelligence

While artificial intelligence’s basic use case is to implement the best algorithm to
solve a problem, cognitive computing goes a step beyond and tries to mimic human
intelligence and wisdom by analyzing a series of factors. When compared with
Artificial Intelligence, cognitive computing is an entirely different concept.

 Cognitive computing learns & imitates the human thought process

Unlike artificial intelligence systems that just takes care of a given problem,
cognitive computing learns by studying patterns and suggests humans take relevant
action based on its understanding. In the case of artificial intelligence, the system
takes full control of a process and takes steps to complete a task or avoid a scenario
by using a pre-defined algorithm.

While in comparison, cognitive computing is a different field altogether where it

serves as an assistant instead of the one completing the task. In this way, cognitive
computing gives humans the power of faster and more accurate data analysis
without having to worry about the wrong decisions taken by the machine learning
system.

 Cognitive computing doesn’t throw humans out of the picture

1. Interaction with humans

Cognitive computing systems are thinking, reasoning and remembering systems

that work with humans to provide them with helpful advice in making decisions.
Its insights are intended for human consumption. AI intends to use the best
algorithm to come up with the most accurate result or action. It works without
human input.
 

2. Contextual solutions

Cognitive computing can take into consideration conflicting and changing

information that fits contextually into the situation at hand. It’s results come from
using predictive and prescriptive analytics–not pre-trained algorithms. For
example, if an adult in her sixties wished to learn what program to follow to
increase muscle strength, AI would come up with the best program there is (maybe
suited to an athlete). In contrast, cognitive computing would consider her age and
abilities and suggest modifications to the program. In the end, AI uses algorithms
to solve problems to come up with a final decision; cognitive computing provides
the pertinent information that will allow humans to make the final decision for
themselves.
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