Every day, 2.5 quintillion bytes of digital data is generated, as per an article published on the website of Forbes, in 2018. Humans, with all the conventional analysis techniques, are only able to study a small fraction of this data. The huge unstructured data sets often contain valuable information, which can potentially drive revenues for organizations. This is why, the need for a technology which can convert the unstructured sets into structured data is dire. With the usage of artificial intelligence (AI) technologies, such as machine learning (ML) and natural language processing (NLP), to accomplish the task, the cognitive computing market is growing across the world.

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The use of AI by companies for increasing their sale is trending around the world. Nowadays, companies are strongly focusing on giving their customers recommendations or suggestions on what to buy, when they visit their website. This is done by analyzing their past behavior, which helps in better recommendations. By integrating AI, particularly ML, with cognitive computing, predictive search becomes even more effective, which is why companies are increasingly using this combination.

Around the world, North America has been the largest cognitive computing market, on account of the development of new business platforms and fast adoption of cloud-based solutions. Additionally, Canada and the U.S. have strict rules for enterprise data security, which is another reason behind the dominance of the continent on the industry. In the coming years, the usage of this technology would surge the fastest in Asia-Pacific, as a result of the swift adoption of big data analytics, rapid digitization in industries, and focus of companies on higher returns on investment.

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Such solutions can be deployed on the premises as well as on the cloud, of which cloud deployment has been more popular in the past. This is credited to the fact that this deployment type reduces the need for procuring expensive information technology infrastructure and hiring personnel. This helps in substantial cost savings for companies, which is even more important for SMEs. Additionally, vendors of cognitive computing solutions on the cloud are engaged in a stiff competition, mainly regarding the cost of their services. Thus, to increase their position, they are offering cost-competitive cloud products, which is further helping in their rising adoption rate.

Therefore, as the volume of data on servers, internet, cloud, and computers increases, a rising number of organizations will turn to cognitive computing.