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Can computers think the same as humans? Computers may be able to anticipate lies more accurately than humans, forecast weather patterns, predict heart attacks before doctors or optimize inventory levels for businesses, but yet aren’t as intellectual as humans. While it will take many more years for machines to exactly replicate humans and human behavior, the progress has been startling to say the least. They can now do things that previously could only be done by humans, like planning, inferring conclusions from unstructured or ambiguous data, perform perceptual tasks like reading, apprehend handwriting, understanding multiple languages, and recognising faces. Technologies capable of carrying out tasks like these that typically require human intelligence are known as Cognitive technologies.
Human centric immersive and cognitive technologies like virtual reality, augmented reality, mixed reality, natural language processing, robotic process automation, speech recognition are seamlessly integrating into the way we live, work, think and stimulate the senses to produce near-realistic worlds.
In a digital-first world these digital transformation technologies provide vast opportunities and unique potential to businesses. They have potential to improve human judgment, increase efficiency, improve service quality, cutback risk and save time. According to the XR Association immersive technologies are forecast to experience a significant growth from $43 billion in 2020 to $333 billion in 2025.
Natural language processing and machine learning are examples of cognitive technologies that can analyze complicated data and produce insightful results that are difficult for human beings to recognize. While ML can extract insights from huge complicated data sets and produce high-quality predictions, NLP can evaluate corresponding information from unstructured textual data. Employing these human-centric technologies enables businesses to produce insights that boost productivity, enhance efficiency, and improve customer experience. A US-based telecom giant facing challenges understanding and interpreting customer experiences and preferences from recorded call logs was on the look-out for a solution that could help them better understand and serve their customer base. Innover, a digital transformation leader developed a comprehensive solution powered by machine learning and natural language processing techniques to convert audio logs into text and drew valuable insights from the available text. The result, an impressive 80% success rate in identifying the pain points without human intervention and a 10X increase in speed in processing files.
It is now possible to accomplish tedious tasks that were previously shrouded by uncertainty, in terms of speed, efficiency, and volume thanks to process automation and immersive technology. Internally focused routine operations and repetitive manual workflows including invoice processing, claim settlement, order administration, and fulfillment check are automated by robotic process automation in conjunction with AI/ML. Without making many modifications, process automation enables firms to achieve considerable gains in terms of cost savings, consistency improvement, and quality maintenance by workflow automation and improved processes. Additionally, it frees up the staff to concentrate on more crucial duties that depend on and require human competencies. DHL, a renowned logistics service provider integrated Intelligent Process Automation into its internal systems and procedures instantly helping the organization to ease the workload for 50% of the company’s workforce who could now be utilized for more concentrated and profitable tasks.
Virtual reality and augmented reality are revolutionizing how products are produced, designed, processed, and manufactured, in addition to how they were previously generated. Designers, engineers, and developers are finding novel solutions to issues by using immersive cognitive technologies. It enables them to enter a world where they can do in-depth product inspection before production, and evaluate a variety of factors. This helps organizations speed up the design process, reduce development costs as no physical materials are required until final stages, and allow detailed product review. As an example, if you wanted to build an autonomous vehicle, engineers, designers, and developers could develop, test, and refine brand-new functions and aesthetics in VR/AR that aren’t even prototypes. Analyze how it works, evaluate functionalities, performance across scenarios, create cross-sections, assess, and tear the best-fitting component to finally run a virtual test drive. With instantaneous iterations and seamless cooperation VR/AR can speed up the development and engineering process. Adding to it haptics technology can create the experience of touch and feel, alerting engineers of finer components such as vibrations and jerks.
Businesses have an almost limitless opportunity to connect with customers through distinctive, memorable, and hyper customized experiences thanks to immersive technologies. Businesses can venture into the metaverse or further enhance their offerings using AR/VR, chatbots can assist customers in making quicker decisions by allowing them to interact with products in novel ways. Organizations can train employees located around the world in virtual offices. Train surgeons to perform complex procedures, which may be especially useful to doctors in countries with weaker healthcare systems. Conduct job interviews, possibly with gender- and race-neutral avatars to eliminate the possibility of discriminatory hiring practices. Enable people to embark on virtual dates, educate students giving an immersive reality experience and much more. The experiential possibilities are seemingly endless powered by cognitive technologies.
Cognitive and Immersive technologies are making this era hyper personalized, and helping businesses to upend processes, workflows, systems, and resources. These technologies have come of age. What was once a quirky novelty has become an eventuality today. Innover’s technology experts utilize immersive and cognitive technologies to create a convergence of physical and virtual worlds for businesses. We are creating safe and engrossing spaces to enable futuristic organizations to facilitate value driven data, enhance process automation, product development, master customer experience and open the doors to the foreseeable future.
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