Press Release: March 24, 2020
The cognitive system is a suit of technologies, which extracts the insights form the structured and unstructured data by using machine learning and natural language processing technology. The increasing unstructured data, such as call center transcripts, documents, email messages, social media content, and social networking sites contents has become one of the major factors for the growth of the cognitive system market. For instance, approximately 300 million photos are uploaded on Facebook per day, 510 thousand comments are posted, and 293 thousand statuses are updated in every 60 seconds. Similarly, on YouTube near 27,000 videos are viewed in 60 seconds, nearly 430,000 tweets are posted on Twitter, and around 120 new users are registered on LinkedIn. The natural language processing plays a major role in cognitive system for insights. With the help of natural language processing, the cognitive system extracts the insights from the plain text. This helps company managers and supervisors to understand the customer demand and product description. Moreover, the increasing usage of artificial intelligence in various increasing verticals and constant advancement in data processing technology are some of the drivers fueling the growth of cognitive system market globally.
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The increasing unstructured data such as call center transcripts, documents, email messages, social media content, social networking sites contents has become one of the major factors for the growth of the cognitive system market. Moreover, the increasing usage of artificial intelligence in various increasing verticals and constant advancement in data processing technology are the factors fueling the growth of the cognitive system market globally. In addition, the banking end users verticals are driving the growth of the cognitive systems market.
Global Cognitive system Market, By Deployment Model:
Global Cognitive system Market, By Technology:
Natural Language Processing
Planning and scheduling
Global Cognitive system Market, By End Users:
Security and Investment
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Key companies covered as a part of this study include HP, IBM, Microsoft, Accenture, DataStax, EMC, Google, MapR Technologies, SAS Institute, and Teradata.
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