AI – Practical Applications

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Last week’s blog post featured information on what augmented intelligence (AI) means and the industries using the technology from IBM Research.  Today, let’s review a couple real life examples of AI applications.

First, a quick definition, IBM prefers to refer to AI as augmented intelligence.  Their approach is to use cognitive computing capabilities, such as machine learning, reasoning and decision tech, language, speech and visual tech and human interface tech, to create practical applications that enhance and scale human expertise.

IBM’s Watson Health – Partnering with New York’s Memorial Sloan Kettering Cancer Center (MSK), IBM’s application helps to consume and process the massive amounts of medical research while also “learning” from cancer experts, working to ultimately expand access to cancer treatment options and expertise. Laura Lorenzetti of Fortune explains, “Some MSK oncologists have a highly specific expertise in certain cancers. By training Watson to think like they do, that knowledge expands from one specialist to any doctor who is querying Watson. That means that a patient can get the same top-tier care as if they traveled directly to the center’s offices in Manhattan. IBM’s Watson provides the framework to learn, connect, and store the data, while MSK is imparting its knowledge to train the computer.”

Financial Services – cognitive computing is assisting financial advisors so  they can better serve their  clients.  By ingesting financial information and client data, Watson can answer the everyday client questions while also using its processing power to help identify potential options for the advisor to evaluate.  Many believe that by integrating with Watson financial advisors will be able to expand their practices and serve more clients. William Sprouse of Financial Planning further explains, “In practice, such cognitive computing power would work with an adviser just like a helpful Star Wars droid: virtually present during a meeting with a client, gathering data, and ready to instantly assist with queries and projections, along with its own suggestions based on client data.”

These two examples both demonstrate not only the processing power of augmented intelligence systems like Watson but also the ability to “learn”.  This ability to learn can provide access to critical expertise to more people than ever before in healthcare and financial services.