Posts Tagged ‘Memorial Sloan-Kettering’

IBM Watson Group Launches As New Business Unit

ibmwatsonevent3IBM is getting down to business with Watson. Today it officially launched its NYC-based IBM Watson Group at an event in downtown Manhattan. The new business unit – a $1 billion investment for Big Blue – will be headed up by Mike Rhodin, senior VP for Watson and formerly its Software Solutions Group lead,

“We don’t form a business unit very often. When we do it’s to make our company, our clients, our partners accelerate progress. It’s not just about business—it’s about advances that make a big difference to all of society, said IBM CEO Ginni Rometty at the event, which took place at 4 World Trade Center and also was streamed live online. Declaring us to be in the “cognitive” era of computing, in which computers will learn, get smarter over time and unleash insights from Big Data, to help us make better judgments, Rometty discussed IBM’s plan of having entrepreneurs and developers leverage its Watson Developer Cloud to create their own solutions, and the interest by some 750 companies in working with them towards those ends.

Some 2000 people will be part of the new IBM group, which will be situated in the East Village’s Silicon Alley. To drive the ecosystem it wants to see around Watson Cloud-delivered cognitive apps and services, it’s making $100 million of that billion dollars available for venture investments in startups and businesses. The fundamental idea, Rhodin noted, is pulling together the cloud, content, and investment to get things up and running. “The first thing you need in an ecosystem is the developer cloud, the second thing is…content, the fuel of a cognitive system,” he said, and you need to “make a pool of talent available to the ecosystem to accelerate its speed and build-out.”

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NLP Market Set For Growth; HealthCare Among Leading Early Adopter Industries

rsz_language_pixThe natural language processing (NLP) market is moving ahead at a steady clip. According to the recently released report, Natural Language Processing Market – Worldwide Market Forecast and Analysis (2013 – 2018), the sector is estimated to grow from $3,787.3 million in 2013 to $9,858.4 million in 2018. That’s an estimated 21 percent CAGR.

The report considers the market to factor in multiple technologies — recognition technologies such as Interactive Voice Response, Optical Character Recognition, and pattern and image recognition; operational technologies such as auto coding and classification and categorization technologies; and text analytics and speech analytics technologies; as well as machine translation, information extraction and question-answer report generation.

Driving the uptake, the report notes, is the need to enhance customer experiences, especially in an age when the smartphone rules, and Big Data predominates. Big-time industry adopters of the technology, it cites, are healthcare, banking and financial services, and e-commerce, where a big growth in real-time and unstructured customer data and transaction information can be taken in hand by NLP technology to analyze customer needs and then optimize responses to them, taking out some of the human labor costs of doing so.

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