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By Annie Johnson, APAC CIO Outlook | Friday, February 05, 2021
Cognitive-driven travel concierges will quickly become widespread, enabling travelers to ask questions about travel and providing personalized data based on accessible travel data and specific passenger travel preferences.
FREMONT, CA: It is necessary to remain up-to-date and relevant to the industry, considering the rising developments in cognitive computing and systems. According to a recent study, the global cognitive systems industry amounted to 4.7 million dollars in 2018 and is estimated to hit 12.5 million dollars by 2024, with a predicted CAGR of 17.7 percent over the 2019-2024 forecast period.
Here are some of the emerging developments in cognitive systems.
Cognitive Systems Investments
Where data is on the rise and much is being absorbed, analyzed, and processed as a finance specialist in customers' service, the exploration of new methods of handling and handling financing is among the top priorities for many cognitive computing practitioners. Financial administrators will continue to benefit from cognitive systems such as these, analyzing millions of records and data variables and providing consumers with the right knowledge.
The emergence of cognitive systems is on the rise in the health and wellness market. Imagine a physician assistant who will synthesize and translate medical research, experiments, and textbooks and provide people with personalized treatment tips. For cognitive systems, this imagination will become a reality that may be the future of healthcare. They are now partnering with insurance agencies, businesses, healthcare providers, and related organizations to help people improve their health with customized advice.
Advances in technology have also disrupted the travel industry with a tremendous boom and further streamlined the travel planning process without relying on travel agents. There are platforms providing travelers with airline fares, hotel room options, car rental packages, and more. Yet planning practice is very client-driven and always sounds like working with a digital archive. What if the experience becomes a bit more tailored and needs much less price comparison? Cognitive-driven travel concierges will quickly become widespread, enabling travelers to ask questions about travel and providing personalized data based on accessible travel data and specific passenger travel preferences.