FEATURE : AI
At the same time , financial institutions are discovering the power of ML to identify anomalies within large volumes of data that may indicate fraud – an early warning system against financial loss . Organisations across industries can employ AI and ML tools to extract and analyse information from documents , such as invoices , contracts , and reports , and to reduce the burden of manual data entry while speeding up processing times and minimising human error .
So , the fact of the matter is that we are now way beyond digital . It is the next era of computing and opportunity .
For decades computers have been able to process information according to predefined rules . While computing systems have done an incredible job of processing information , programming business rules and automating processes to improve communications , productivity and efficiency but cognitive systems take it to a new stratosphere . And we are only scratching the capability surface .
Cognitive systems are defined by their ability to think . They can learn , reason and act based on proficiency and experience , as opposed to following rules that have been programmed . This is what sets cognitive computing apart .
Paul Meyer , Security Solutions Executive , iOCO
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