Library

Cognitive Computing is a broad term that describes a number of Artificial Intelligence techniques. The core AI technique utilised is Semantic computing.

The Internet of Things (IoT) is the network of physical objects (including people) embedded with sensors and connectivity enabling the exchange of data with other connected devices. The Internet of Things allows objects to be sensed and controlled remotely across existing networks.

An IoT “thing” can be a person with a pedometer, a marine animal with a GPS transponder or a vehicle with an oil pressure sensor.

As the internet becomes more robust, the traffic grows exponentially driving up the volumes of data from systems and devices connected to the internet. These systems and devices are now contributing to large amounts of data being generated, transferred and stored, known as Big Data. The sheer magnitude of which is now exceeding the ability of data specialists to make effective use of it.

For this data to be useful, the sending and receiving systems must all be able to understand it. This is known as interoperability and this function is critical to the expected benefits being highlighted below.

In addition to collecting all the unstructured and structured data, the modern data analysts are better understanding the data by utilising contextual support information, using more automated solutions – Semantic computing - that provide better quality data and meaning for better decision making in research and commercial investigations.

The library content has therefore been broken into three key categories – Internet of Things, Big Data/Data Analytics and Cognitive Computing.

Internet of Things (IoT)

McKinsey Global Institute: Unlocking the potential of the Internet of Things

"Our bottom-up analysis for the applications we size estimates that the IoT has a total potential economic impact of $3.9 trillion to $11.1 trillion a year by 2025. At the top end, that level of value—including the consumer surplus—would be equivalent to about 11 percent of the world economy.”

Business Insider: Cisco's John Chambers has found a new $14 Trillion market

"Cisco CEO John Chambers says a new tech market is coming that will generate an astounding $14 trillion dollars in profits over the next decade: the Internet of Things (IoT)."

GE Report: Meeting of Minds and Machines

"New "Industrial Internet" report from GE finds that combination of networks and machines could add $10-15 trillion to global GDP"

Network World Gartner: Internet of Things has reached hype peak

Industry analyst Gartner recently arguing that the “Internet of Things” is at the top of their “Hype Cycle”.                              

 

Big data   

Delphian Analytics More Data than Analysts – the Real ‘Big-Data Problem’

“The current amount is growing at about 28% per annum. The global enrolment of IT students will need to double between 2012 and 2025 – that requires an annual growth rate of about 5.54% per annum. The only solution to this growing disparity in analysts vs. data is in creating ‘smarter’ analytics”

McKinsey Global Institute: Big data - The next frontier for innovation, competition, and productivity

“There will be a shortage of talent necessary for organizations to take advantage of big data. By 2018, the United States alone could face a shortage of 140,000 to 190,000 people with deep analytical skills, as well as 1.5 million managers and analysts with the know-how to use the analysis of big data to make effective decisions.”

Bloor Research: Next Steps for Data Integration

"...this approach requires far less in the way of resources, particularly with respect to personnel but also hardware and software resources, and therefore costs, than traditional methods of supporting data integration."                            

Cognitive Computing

InfoWorld: Cognitive computing can take the Semantic Web to the next level

“Cognitive computing refers to the ability of automated systems to handle conscious, critical, logical, attentive, reasoning modes of thought. Semantic computing facilitates and automates the cognitive processes involved in defining, modelling, translating, transforming, and querying the deep meanings of words, phrases, and concepts. Semantic computing is what natural-language processing, the heart of cognitive computing, is doing.”

The Guardian : Are Robots on the Rise

"Computers are on the threshold of reading and understanding the semantic content of a language, but not quite at human levels. But since they can read a million times more material than humans they can make up for that with quantity.”

Next Big Future: Expect Watson Artificial Intelligence to earn $10 billion per year in Revenue within ten years

“IBM’s CEO, Virginia Rometty, said in October last year that she expects Watson to bring in $10 billion in annual revenue in 10 years…”

IBM: Cognitive Computing

“Cognitive computing systems learn and interact naturally with people to extend what either humans or machine could do on their own. They help human experts make better decisions by penetrating the complexity of Big Data.”