Originally published at the IBM Center for Applied Insights blog.
Susanne Hupfer, IBM Center for Applied Insights, October 24, 2016
The cognitive computing market is expected to grow from $2.5 billion in 2014 to more than $12.5 billion by 2019. To understand how organizations are capitalizing on this surge and to uncover adoption patterns, IBM surveyed more than 600 AI/cognitive decision makers worldwide with AI initiatives underway or planned.
Two-thirds of these early adopters say AI/cognitive is very important to their organization’s strategy and success, and six in ten regard it as a must have for organizations to remain competitive within the next few years.
The study reveals that cognitive computing can lead to big payoffs. Half of the organizations with AI initiatives underway report they’ve already gained major competitive advantage from their efforts, and 62 percent say the outcomes exceed their expectations.
Cognitive users are driving business advantage in three key ways: improving customer engagement, increasing productivity and efficiency, and promoting business growth.
