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How Cognitive AI in Healthcare can Enhance Organizations
Cognitive AI systems are collaborative, contextual, and, crucially, adaptive in that when new knowledge comes to light, they learn and develop dynamically.
Fremont, CA: Cognitive AI integrates data from various sources in multiple formats and can assess these data to generate insights. In its capacity to imitate how the human brain operates, this type of AI differs from others. AI is trained to work with humans, helping in other ways to better the work we do or meet needs. Early adopters of cognitive technology see them as vital to their organization’s potential success and the opportunity to develop digitally.
Work Faster, Quicker, And Smarter
Many operations are still manual and largely unautomated in healthcare revenue lifecycle management. However, a system bolstered by cognitive AI could simplify the diagnostics made by doctors in real-time as the doctor types their notes, with the rest of the necessary back-end processes, including billing, which currently occupies time that could be spent attending to patients. Or consider how hospital pharmacies currently serve a large hospital. Prescriptions are now redirected to the nearest pharmacy by the AI engine, irrespective of its ability to promptly process the request, depending on personnel, availability, inventory levels, and how busy the rest of the hospital is.
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Need For and Availability of Vast Data Sets
The standard digital challenge affecting all sectors is assimilating fragmented data, extracting insights, and converting them into actionable intelligence. For example, in the insurance industry, we already see cognitive AI used to collect large quantities of structured and unstructured data to enhance underwriting accuracy, process claims remotely, streamline processes, and drive down costs. The data streams we create could be exchanged with insurance providers in the future, thanks to cognitive AI, to automatically change rates according to the choices we make and manage insurance claims in real-time based on incidents that take place.
Context is King
There is a strong need for cognitive AI in retail, such as when intelligent agents provide 24/7 customer service assistance. Cognitive technologies are responsible for the hyper-personalized, omni-channel customer experience, which is still more of an expectation than reality for most retailers. In hyperlocal settings, it can also help retailers make smart business choices. For instance, by anticipating which stores will decline sooner and taking remedial steps, or by comparison, detecting demand spikes and deploying individuals and products to meet the demand.