IBM Watson Tapping Cognitive Insights’ Vigour to Offer Personalized User Experience
Understanding the cognitive computing platform of IBM, known as Watson, is imperative for gauging the future evolution of the company. With the decline of its core business, IBM is banking on Watson for driving growth in potential areas including, but not limited to, healthcare, analytics, security, and internet of things (IoT). IBM Watson has gained immense traction by powering advertisements that generate authentic content, such as food ingredients-based custom recipes by assessing human taste.
Customer expectations are on the rise, with increased integration of technology into retail models. In order to tap into the upward trend, IBM Watson is leveraging the vigour of cognitive insight and digital technology for offering more personalized user experience. Demand from IBM Watson services will continue to be driven by growing opportunities for cognitive insights in the retail sector in the forthcoming years. A new Fact.MR report has envisaged the IBM Watson services market to reflect an exponential growth over the period of forecast, 2018 to 2028. Sales of IBM Watson services worldwide are foreseen to bring in over US$ 20,000 Mn revenues by 2026-end.
IBM Watson Reforming Diagnostic Procedures of Doctors
Supercomputers such as IBM Watson effectively consume huge amount of healthcare data and to provide doctors with relevant intelligence, and access to better & actionable diagnostic information. Imminent integration of IBM Watson Genomics into the TruSight Tumor 170 tool or Illumina, for speeding up recommendations of tailored drugs for cancer patients, promises a time-effective way of diagnosing conditions for doctors.
IBM Watson Genomics holds potential in scanning patient data in a very short time-period, to create report based on alterations in genetic sequencing by leveraging Illumina’s tool. The report will also incorporate medical literature and clinical trials apropos of relevant drugs for precise recommendation, facilitating diagnostic procedures for doctors and patients alike. This will further rub off on demand for IBM Watson services in the healthcare sector.
IBM Watson Facilitating Prevention of Cyber-Attacks
Recent revelation of IBM Watson’s special version, which is designed for preventing cyber-attacks, has gained traction as “language of security”. This cybercrime-fighting and cloud-based software is capable of analyzing research into potential threats for locating suspicious or malicious activity in a computer system. The software has become an effective solution for growing concern of hacks in the digital world.
IBM Watson’s security system holds potential in saving resources spent by an organization on chasing false alarms every year. Combining unique abilities of machine and human intelligence for fighting against advanced cybercrime, IBM Watson is set to witness increased penetration among organizations with data security requirements.
IBM Watson Services Market: Fundamental Shortcomings to Confine Growth Potential
IBM Watson services involve time-intensive laborious training, with the need for experts to feed enormous quantity of well-organized data into the platform for drawing insightful conclusions. Additionally, it can draw conclusions based only on body of data that it has been or being trained on. “Well-organized” requirement is a key challenge confining penetration of IBM Watson services, as unprepared sets of data are typically insufficient.
Another drawback of IBM Watson is its inability to make connections with different corpora, which in turn makes gleaning even basic insights challenging. Training Watson on oncology has been seen to provide no insights on heart disease – a limitation that drastically constrains its deployment in clinical settings.
Note: The insights mentioned here are of the respective analysts, and do not reflect the position of Fact.MR
Advancements in the IBM Watson ecosystem are powering analytics and data with long-term value. Watson is offering value to oncology, suggesting tailored treatment procedures for patients on account of their unique medical records. Watson facilitates healthcare professionals in crunching large data volumes for identifying effective treatments with high success probability, thereby witnessing increased penetration in the industry.
Finance organizations such as Citi have partnered with Watson for exploring use of its technology in consumer banking solutions. Managing regulatory and compliance controls have been made simple for these organizations post-development of cognitive technologies dedicated for consumer insight. This has created new opportunities for IBM Watson in the banking & finance sector.
A recently compiled Fact.MR study propounds a ten-year forecast on IBM Watson services market for the period between 2018 and 2028. This all-inclusive and holistic research examines IBM Watson services market in detail, providing an exhaustive analysis on key factors impacting present as well as future growth of the market.
IBM Watson services: Taxonomy
This report imparts quantitative & qualitative analysis on the IBM Watson services market, providing a 360 view on current and future market prospects. Value forecast rendered in the report is in terms of US$ Bn. Qualitative analysis offered elucidates industry-specific, microeconomic, and macroeconomic factors affecting the market expansion. The report covers complete insights on key growth determinants, deterrents, opportunities and threats that will potentially influence the market in the forthcoming years.
Segmentation-wise analysis & insights on IBM Watson services market has been offered that enables readers to gain accurate and transparent insights. The report has branched the IBM Watson services market in terms of service type, vertical type, and region.
Competitive Landscape Assessment
This research study profiles business strategies employed by leading participants in the market, and exerts comprehensive insights that enable established and emerging players in devising effective growth strategies. The chapter on competitive landscape tracking is of paramount importance for the market participants who seek gleaning in-depth insights into current market status quo. Prominent companies participating in the IBM Watson services market, such as Accenture PLC, Cape Gemini SE, Tech Mahindra Limited, Deloitte Touche Tohmatsu Limited, and Wipro Limited, have been profiled in the report.
A scrutinized SWOT analysis has also been rendered by the report, which imparts strengths, weaknesses, opportunities, and threats to these market players. Intelligence apropos of new product developments, impact of regulatory changes, and mergers & acquisition activities of the market players has also been contained for perusal of the report readers.
A tested & proven research approach is employed by analysts at Fact.MR for evaluating key industry dynamics and offering precise and authentic market intelligence. A blend of primary & secondary research has been implemented for offering estimates and forecasts on the IBM Watson services market. Secondary research forms initial phase of our research, wherein the analysts conduct extensive information mining by referring to up-to-date and verified data resources that include technical journals, regulatory and government published material, and independent studies, which forms the basis of the market estimates.
All the market estimates and forecast offered are further verified via an exhaustive primary research, wherein interviews are conducted with leading market participants, and industry experts. These comprehensive primary interviews aid in validating the information procured and gain significant industry insights, estimations and key developments.
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