Posts Tagged ‘watson’
Solo and Small Firms Face Many Challenges, Survey Shows, But Few Have Made Changes to Address Them | Robert Ambrogi’s LawSites
… when you combine the numbers for firms that have either implemented changes or that have plans in place, the numbers of firms that are addressing their challenges range from roughly half to two-thirds:
- Challenges acquiring new client business, 63%.
- Getting paid by clients, 65%.
- Demonstrating the firm’s value to potential clients, 65%.
- Keeping up with competition from other firms in your practice areas, 54%.
- Lack of internal efficiency, 55%.
- Spending too much time on administrative tasks, 47%.
- Cost control and expense growth, 54%.
- Managing staff, 68%.
- Clients demanding more for less, 42%.
- Increasing complexity of technology, 52%.
- Retaining client business, 67%.
- Increasing pace of legal and regulatory change, 46%.
Source: Solo and Small Firms Face Many Challenges, Survey Shows, But Few Have Made Changes to Address Them – Robert Ambrogi’s LawSites, November 30, 2017, Robert Ambrogi
Read MoreThe Legal AI ‘Barbarians’ Have Already Taken the Gates |Artificial Lawyer
Strangely, it’s not the legal IT people in law firms who seem to have most grasped just how important AI and automation is, it’s the managing partners. This is because it’s their job to look at the bigger picture, the economic and strategic picture, not just how the machine functions day to day.
Great list of legal Artificial Intelligence providers. Looking forward to “AI and blockchain fusion initiatives.”
Source: The Legal AI ‘Barbarians’ Have Already Taken the Gates – Artificial Lawyer, December 01, 2017, Richard Tromans
Read MoreAs IBM Ramps Up Its AI-Powered Advertising, Can Watson Crack the Code of Digital Marketing? – Adweek
Watson Ads
“Weather impacts your mood and your emotions, and your moods and your emotions are a huge input into your decision-making modality,” says Cameron Clayton, the former CEO of The Weather Company who is now general manager of IBM Watson’s Content and IoT Platform.
Last year, IBM began using Watson to create actual ads powered by AI. Since its launch in June 2016, Watson Ads have been used to leverage natural language to let users interact with ads from brands like Toyota and Campbell’s so they can get information about car inventory or recipes.
Source: As IBM Ramps Up Its AI-Powered Advertising, Can Watson Crack the Code of Digital Marketing? – Adweek, September 25, 2017
Read MoreChatbots for customer service will help businesses save $8 billion per year – Watson
A new study released this week estimates that that chatbots will help businesses save more than $8 billion per year by 2022, which is a huge increase from the $20 million estimated for this year. In 2022, the success rate of bot interactions in healthcare sector will increase from the current 12% to over 75%, and in the banking sector this will climb to 90%.
Source: Chatbots for customer service will help businesses save $8 billion per year – Watson
Read MoreHow cognitive computing will revolutionize the retail industry – Watson
Cognitive computing is already redefining the retail industry worldwide. 91% of retail executives familiar with cognitive computing believe it will play a disruptive role in their organization. Opportunities for cognitive insights in the retail industry will continue to grow in the near future.
Source: How cognitive computing will revolutionize the retail industry – Watson
Read MoreHow to build a future-proof business: 4 real-world applications of cognitive solutions – IBM Watson
Our current IT systems are being rapidly replaced by cognitive systems that continuously understand, reason and learn like humans do. Unlike older, programmable systems, a cognitive system can ingest and understand large amounts of data, in all its forms (including unstructured). A cognitive system learns from all the data it reads, and from each interaction with the experts and users that train it. It learns from both successes and failures, and it never stops learning.
Source: How to build a future-proof business: 4 real-world applications of cognitive solutions – IBM Watson
Read MoreHow Natural Language Processing is transforming the financial industry – IBM Watson
The exponential growth in data from the Internet, social media and personal devices is providing enterprises with unprecedented opportunities to use digital information to improve their businesses. To an extent, sophisticated analytics programs can help businesses utilize their data by searching for and revealing patterns hidden in structured data, such as spreadsheets and relational databases.
Source: How Natural Language Processing is transforming the financial industry – IBM Watson
Read MoreDisrupting Industries With Cognitive Computing
With cognitive computing, we are now able to unlock the value in ALL the data — from internal, external and even publicly available sources — available to a business. Much of this data was previously inaccessible as it existed in was unstructured (documents, emails, social media posts and images etc.), or was dispersed among any many systems and silos. Hear how two companies are already using cognitive computing to disrupt their industries:
Source: Disrupting Industries With Cognitive Computing
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