Adoption Scenario of IBM Watson Services Market to Remain Positive Through 2027

Posted by Vikas Bahurupi on January 20th, 2019

IBM Watson is considered to be the first-ever commercialized cognitive computing platform, designed specifically for underpinning the development of various enterprise solutions. IBM Watson services continue to tap immense opportunity in the rapidly evolving cognitive computing field, which has been reshaping the nature of business operations, thereby determining their growth. Research Report Insights (RRI) analysis the IBM Watson services market to record an outstanding rise in assessment period 2027. IBM Watson administrations are evaluated to be soldover US$ 19.7 Billion by ending of 2027

According to Research Report Insights Survey, lots of people could since the price tag for a Watson-class computer comes in at around a reasonable-sounding million. According to Tony Pearson, master inventor and senior consultant at IBM, a Power 750 server retails for ,500.

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IBM Watson Services: Real-time Decoding of Consumer Choices and Reducing Process Downtime Attributes fuelling Adoption

IBM Watson services aid retailers in decoding consumer choices by providing insights into latest trends, and key aspects of marketing. This further enable retailers in improving the profitability, and enhancing their business efficiency. Operating more effectively using analytics, IoT, and cognitive computing, IBM Watson helps manufacturing plants in reducing downtime and improving the overall operational quality.

Douglas Hofstadter, cognitive scientist and Pulitzer Prize-winning author of Gödel, Escher, Bach, recently claimed that IBM's Jeopardy! Champion AI system Watson is not real artificial intelligence. Watson, he says, is “just a text search algorithm connected to a database, just like Google search.

IBM Watson Services: High Growth in Healthcare with BFSI on the Trail

IBM Watson’s cognitive computing or AI platform has been reforming the healthcare operations since the recent past. Services offered by IBM Watson facilitate healthcare professionals by screening structure & unstructured data of patients, and recent evidence-based medications, regulatory requirements, and quality standards. IBM Watson has been constructed for churning through ever-growing quantity of research data, thereby promising fast marketing of new drugs.

IBM Watson services are being extensively employed by pharmaceutical companies, academic institutions, and medical devices manufacturers for drug repurposing and new drug target identification. The potential for AI in improving the overall quality and consistency of cancer care, which has enabled physicians in spending more time on delivering care to patients, has paved lucrative opportunities for IBM Watson services in the healthcare sector.

Fund associations are going into organizations with IBM for utilizing the Watson innovation in creating compelling customer managing an account arrangements. Post-improvement of subjective advances to convey customer knowledge, IBM Watson has offered administrations that empower fund firms in overseeing administrative and consistence controls. Protection workers can use IBM Watson benefits in quick assurance of the qualification and percentile of claim that must be paid, along these lines settling on better choices and increasing better outcomes.

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Banking, financial services & insurance (BFSI) is estimated to trail healthcare in terms of IBM Watson services market’s revenue share. Currently, IBM Watson financial services power services apropos of the wealth management industry, financial risk management solutions, and insurance services.

IBM Watson gains Momentum by Facilitating Coding of Natural Language Processing

IBM Watson language services are poised to hold bulk shares of the market over the forecast period. IBM Watson integrates real-time computing power & machine learning, into language processing for sifting through immense unstructured data, such as social posts, journals, emails, and documents, for providing solutions faster. Better & improved understanding of communications - particularly natural language processing & translation – is a key agenda of IBM Watson language services, which in turn has propelled their demand among data centers.

In the wake of artificial intelligence (AI), wherein smart and context-specific applications have been introduced, IBM Watson imparts a wide array of services related to natural language that enable extraction of keywords, sentiments, and entities, along with other semantic details in a provided text. Technologies for machine language translation such as IBM Watson’s Language Translator are likely to gain increased demand in the field of automation, while disrupting the global service delivery.