Artificial Intelligence
Cognitive Computing Market revenue is expected to increase by USD 239.5 Billion by 2032 Says Acumen Research and Consulting
TOKYO, June 08, 2023 (GLOBE NEWSWIRE) — The Global Cognitive Computing Market Size accounted for USD 30.4 Billion in 2022 and is projected to achieve a market size of USD 239.5 Billion by 2032 growing at a CAGR of 23.2% from 2023 to 2032.
Cognitive Computing Market Highlights:
- Global Cognitive Computing Market revenue is expected to increase by USD 239.5 Billion by 2032, with a 23.2% CAGR from 2023 to 2032
- North America region led with more than 39% of cognitive computing market share in 2022
- Asia-Pacific cognitive computing market growth will record a CAGR of more than 25% from 2023 to 2032
- According to a study conducted by Accenture, the use of cognitive computing technology will result in a 40% increase in productivity by 2035
- According to a Deloitte study report, the application of cognitive computing technologies in the banking industry would result in cost savings of up to 60%
- Increasing demand for AI and machine learning technologies in various sectors, drives the cognitive computing market value
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Cognitive Computing Market Report Coverage:
| Market | Cognitive Computing Market | |
| Cognitive Computing Market Size 2022 | USD 30.4 Billion | |
| Cognitive Computing Market Forecast 2032 | USD 239.5 Billion | |
| Cognitive Computing Market CAGR During 2023 – 2032 | 23.2% | |
| Cognitive Computing Market Analysis Period | 2020 – 2032 | |
| Cognitive Computing Market Base Year | 2022 | |
| Cognitive Computing Market Forecast Data | 2023 – 2032 | |
| Segments Covered | By Technology, By Deployment, By Application, And By Geography | |
| Sex Reassignment Surgery Market Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa | |
| Key Companies Profiled | IBM Corporation, Google Inc., Microsoft Corporation, Accenture PLC, Amazon Web Services Inc., Palantir Technologies Inc., Hewlett Packard Enterprise Company, Nuance Communications, Inc., Numenta, Inc., Enterra Solutions LLC, CognitiveScale, Inc., and SparkCognition Inc. | |
| Report Coverage | Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis | |
Let’s understand the Cognitive Computing Market:
Cognitive computing refers to the application of artificial intelligence (AI) and machine learning (ML) technologies to simulate human thought processes and enhance decision-making capabilities. It involves the use of advanced algorithms, natural language processing, and data analytics to analyze large volumes of unstructured data and derive meaningful insights.
The cognitive computing market is driven by the growing need for intelligent automation and data-driven decision-making across various industries. Cognitive computing systems can understand, learn, and interact with humans in natural ways, enabling organizations to gain valuable insights from complex data sources and improve operational efficiency.
Key factors contributing to the growth of the cognitive computing market include the increasing adoption of cloud-based cognitive services, the rising demand for personalized customer experiences, and the growing application of cognitive computing in healthcare, finance, retail, and other sectors. Furthermore, the advancements in AI and ML technologies, coupled with the availability of big data, are fueling the market growth.
There are certain factors that may slow down the growth of the cognitive computing market. These include concerns related to data privacy and security, challenges in integrating cognitive systems with existing IT infrastructure, and the shortage of skilled professionals in the field of AI and cognitive computing.
Cognitive Computing Market Trends:
Advanced data analytics: Cognitive computing systems leverage advanced data analytics techniques to process and analyze large volumes of structured and unstructured data. This enables organizations to uncover hidden patterns, trends, and insights, driving better decision-making and innovation.
Natural language processing: Natural language processing (NLP) plays a crucial role in cognitive computing. It enables machines to understand and interpret human language, including spoken and written text, enabling more natural and intuitive interactions between humans and machines.
Cognitive assistants and chatbots: Cognitive computing is powering the development of intelligent virtual assistants and chatbots that can understand and respond to human queries. These assistants are being increasingly used in customer support, virtual customer service, and other applications to improve user experiences.
Predictive analytics and machine learning: Cognitive computing systems integrate predictive analytics and machine learning capabilities to make accurate predictions and recommendations based on historical data. This enables organizations to anticipate customer behavior, optimize processes, and drive business growth.
Cognitive computing in healthcare: The healthcare industry is adopting cognitive computing to improve diagnostics, personalized medicine, patient care, and drug discovery. Cognitive systems can analyze medical records, scientific literature, and patient data to provide valuable insights to healthcare professionals.
Growth Dynamics of the Cognitive Computing Market:
Increasing demand for automation: Organizations across various industries are seeking to automate repetitive and manual tasks to improve operational efficiency. Cognitive computing enables intelligent automation by leveraging AI and ML technologies, driving the demand for cognitive computing solutions.
Data-driven decision-making: The availability of vast amounts of data and the need for real-time insights are driving the adoption of cognitive computing. Organizations are leveraging cognitive systems to analyze data and derive actionable insights, enabling data-driven decision-making and competitive advantage.
Integration of cognitive computing with IoT: The integration of cognitive computing with the Internet of Things (IoT) is creating new opportunities for data analysis and automation. Cognitive systems can process and analyze data from IoT devices, enabling real-time decision-making and predictive maintenance.
Growing focus on personalized experiences: Businesses are increasingly focusing on delivering personalized experiences to their customers. Cognitive computing enables organizations to understand customer preferences, behavior, and sentiment, enabling personalized recommendations, targeted marketing, and enhanced customer satisfaction.
Rapid advancements in AI technologies: The field of AI and ML is rapidly evolving, with continuous advancements in algorithms, computing power, and data availability. These advancements are driving the growth of the cognitive computing market by enabling more sophisticated and accurate cognitive systems.
Growth Slowing Factors for the Cognitive Computing Market:
Data privacy and security concerns: The increasing use of cognitive computing and AI technologies raises concerns about data privacy and security. Organizations need to ensure that sensitive data is protected and comply with relevant regulations, which can slow down the adoption of cognitive computing solutions.
Integration challenges: Integrating cognitive computing systems with existing IT infrastructure can be complex and challenging. Organizations may face difficulties in integrating cognitive systems with legacy systems and ensuring interoperability, which can hinder the adoption of cognitive computing.
Shortage of skilled professionals: The field of AI and cognitive computing requires highly skilled professionals who can develop, implement, and manage cognitive systems. The shortage of such professionals can impede the widespread adoption of cognitive computing solutions.
Ethical considerations: The use of cognitive computing raises ethical considerations, such as bias in AI algorithms and the potential impact on jobs. Organizations need to address these ethical concerns and ensure that cognitive systems are developed and used responsibly.
Check the detailed table of contents of the report @
https://www.acumenresearchandconsulting.com/table-of-content/cognitive-computing-market
Segmentation of the Cognitive Computing Market:
By Technology
● Natural Language Processing
● Information Retrieval
● Machine Learning
● Automated Reasoning
By Deployment
● On-premises
● Cloud
By Application
● BFSI
● Retail
● Healthcare
● Aerospace & Defense
● Security
● IT & Telecom
● Others
Cognitive Computing Market Overview by Region:
The Cognitive Computing Market is divided based on geography, including regions like North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. North America is the largest market segment, followed by Europe and Asia-Pacific. The growth of the cognitive computing market in North America and Europe can be attributed to factors such as technological advancements, the presence of key players, and the adoption of AI technologies across various industries. In the Asia-Pacific region, factors like rapid digitalization, increasing investments in AI research and development, and the growing focus on innovation contribute to market expansion. The Middle East & Africa and Latin American regions also show potential for long-term market growth due to emerging economies and increasing investments in AI and cognitive computing technologies.
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Cognitive Computing Market Key Players:
IBM Corporation, Google LLC, Microsoft Corporation, Amazon Web Services, Inc., Intel Corporation, Oracle Corporation, SAP SE, CognitiveScale, Numenta, Palantir Technologies, IPsoft Inc., Vicarious, Saffron Technology (Intel), Enterra Solutions LLC and Expert System S.p.A.
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Artificial Intelligence
Xinhua Silk Road: E China’s Changzhou City unveils investment opportunities in sectors of new productive forces for global investors
BEIJING, Sept. 29, 2024 /PRNewswire/ — Changzhou City, an leading international smart manufacturing base located in east China’s Jiangsu Province, has released a bunch of investment investment opportunities to global investors in various sectors of new productive forces at the the 2024 New Energy Industry Development Conference & Invest in Changzhou Conference held in the city on September 19.
The investment opportunities covers nine areas including synthetic biology, low-altitude economy, intelligent connected new energy vehicles, solid-state batteries, hydrogen energy, third-generation semiconductors, and artificial intelligence, manifesting the confidence of Changzhou in further opening development.
Changzhou, seated in the axis of the Yangtze River Delta, has become an important base for advanced manufacturing in China.
In recent years, thanks to intensified efforts in developing new energy industry and fostering new quality productive forces, Changzhou has expanded the added value of its industrial sector to more than two trillion yuan, with manufacturing added value accounting for about 43 percent, both ranking among the top three in Jiangsu Province.
In the Hurun China New Energy Cities 2024, a list released by the Hurun Research Institute at the conference, Changzhou ranked first among other cities in the country for three consecutive years in terms of investment attractiveness and concentration.
Changzhou has accumulated a total of 10.59 billion US dollars (nearly 74.25 billion yuan) in terms of actually utilized foreign capital since 2020. Major projects such as soft magnetism of ArcelorMittal and medical device of BIOS, a Hong Kong-based company, have been launched during the conference.
In addition, Changzhou has released a multilingual guide for foreign nationals in Changzhou at the conference, which includes practical service items in stay and residence, work, convenient payment options, among others, turning the city into a more open and international place.
Original link: https://en.imsilkroad.com/p/342380.html
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Artificial Intelligence
CGTN: China honors individuals with highest awards in celebration of 75th National Day
BEIJING, Sept. 29, 2024 /PRNewswire/ — Huang Zongde enlisted in the Chinese People’s Liberation Army at the age of 17, beginning a nearly four-decade-long military career where his bravery, valor and devotion earned him countless awards and honors.
The heavily decorated 93-year-old received the highest state honor on Sunday when Chinese President Xi Jinping conferred him with the Medal of the Republic at a ceremony in the Great Hall of the People in Beijing.
China awarded national medals and national honorary titles to 15 individuals, including Huang, in recognition of their contribution and achievement as it celebrates the 75th anniversary of the founding of the People’s Republic of China, which falls on October 1.
Chinese heroes and role models
In addition to Huang, three others were awarded the Medal of the Republic. Wang Yongzhi, a missile and rocket expert and a pioneer of China’s manned space program, was honored posthumously. Wang Zhenyi, a medical scientist known for breakthroughs in leukemia treatment, and Li Zhensheng, an expert in wheat breeding, are also among the honorees.
The national honorary titles went to 10 people, including scientists, a border patrolman, an artist, a craftsman, educators, a health worker, an economist and an athlete.
Addressing Sunday’s awarding ceremony, President Xi, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, called on the Chinese people to learn from heroes and role models to form a mighty force to build a strong China.
China is in a crucial period for building a great modern socialist country in all respects and achieving national rejuvenation through Chinese modernization, he said.
Encouraging the Chinese people to strive for extraordinary achievements at ordinary job posts, Xi urged them to contribute to resolving challenges to development and reform and safeguarding social harmony and stability.
China’s old friends and good friends
As its highest state honor for foreigners, China awarded the Friendship Medal to Dilma Rousseff, president of the New Development Bank and former Brazilian president, for her commitment to the friendship between China and Brazil, and development of relationship between China and the Community of Latin American and Caribbean States, and cooperation among BRICS countries, a group of major emerging economies.
Accepting the honor at the ceremony, Rousseff said the medal symbolizes the strong bonds between Brazil and China and pledged to continue her unremitting efforts to promote the friendship.
China’s achievements over the decades, including economic transformation, technological innovation and remarkable social development, have made it a beacon and a source of inspiration for the world, she said.
Xi lauded Rousseff as an outstanding representative of China’s old friends and good friends who have shared the same aspirations and stood together with the Chinese people over the past 75 years and vowed that China will never forget such international friends.
The Chinese people are ready to join hands with people from all over the world to safeguard world peace, promote common development and advance the building of a community with a shared future for mankind to create a better future for humanity, he said.
https://news.cgtn.com/news/2024-09-29/China-honors-individuals-with-highest-awards-ahead-of-National-Day-1xhS1SaZeZa/p.html
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HANGZHOU, China, Sept. 29, 2024 /PRNewswire/ — On September 26, a delegation from the Ministry of Digital Development, Innovations and Aerospace Industry of the Republic of Kazakhstan, led by Minister Madiyev Zhaslan, visited SUPCON. SUPCON’s Chairman and President, Mr.Cui Shan, warmly welcomed the delegation.
The Kazakhstan government representatives expressed their appreciation and recognition of SUPCON’s expertise and innovation in intelligent manufacturing, digital transformation, and industrial AI.
Madiyev Zhaslan expressed a strong interest in industrial AI technologies of SUPCON, particularly their applications in intelligent and low-carbon facilities. He looks forward to exploring extensive collaboration with SUPCON across various sectors in Kazakhstan.
Cui Shan emphasized that as a leading industrial AI company with a global presence, SUPCON will leverage its technological advantages to meet Kazakhstan’s industry development requirements and trends, injecting new momentum into the country’s industrial digitalization.
In 2023, SUPCON established a subsidiary in Kazakhstan as its Central Asia regional headquarters and set up a localized operational system. SUPCON will continue to invest in the long-term development of the Central Asia region, contributing further wisdom and strength to the industrial digital transformation in Kazakhstan and beyond.
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View original content:https://www.prnewswire.co.uk/news-releases/kazakhstan-government-delegation-visited-supcon-302261857.html
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