We all remember Watson from Jeopardy, right? It's not just Jeopardy that Watson is used for. Watson is famous for its cognitive computing system. Cognitive computing is another name for artificial intelligence. In other words, Watson learns. Watson is self-learning. Watson takes vast amounts of information and analyzes that information for whatever purpose necessary, better than mere humans can. Watson can think so much better than humans that he has written a recipe book and even has assisted oncologists, which are cancer doctors, at Memorial Sloan Kettering Cancer Center. Now, 2000 employees at IBM have been formed into a group to advise companies how to use the artificial intelligence software in Watson to their advantage. Can you imagine using Watson in medicine, oil and gas exploration, financial management?
The announcement of Cognitive Business Solutions
Tuesday is a gathering of executives in the information technology world in Orland, Florida. Virginia Rometty will be on hand to announce the new team, with Stephen Pratt at the helm, running the new group at IBM called Cognitive Business Solutions. Stephen Pratt worked for TPG, an investment firm then an Indian outsourcing firm, Infosys and now IBM.
IBM sees Watson as something every business can use. Their Global Business Services is getting ready to start passing along Watson's information. Watson cost IBM over $1 billion of its $17 billion budget in its analytics business. At this point it is unclear how much Watson is making IBM but IBM plans to make over $1 billion each year, beginning in 2018 with Watson.
One way IBM makes money from Watson is that if a developer wants to base its programs on the Watson Developer Cloud, IBM collects a percent of the revenue generated. There are over 350 partners using the Watson Developer Cloud and that is expected to grow.
IBM is ready to help small businesses to large businesses analyze their needs and then tailor Watson's software to help them meet those needs. They also answer twitter questions and support personnel in any way necessary. They also work with security, internet issues and business analytics.
Artificial Intelligence is growing. Google, Facebook, Apple and Amazon are all advancing using artificial intelligence. Artificial intelligence is used in voice and image recognition and as a virtual assistant. There will be a lot of competition in the next few years and Watson is waiting to take center stage.
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