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The authors show how cognitive computing offers companies an opportunity to dramatically improve the efficiency of business functions throughout the enterprise – from core back office systems to critical middle office capabilities to essential front office functions.

Examples are given of companies that are using cognitive computing to transform the workings of individual business functions.

Cognitive systems will also create breakthrough opportunities for interactions between various functions of the organization.

Self–learning cognitive systems are enabling better-informed customer engagement in which the technology recognizes, learns and improves with every interaction.

Applied to innovation activities, cognitive computing helps organizations better formulate hypotheses, identify and validate new ideas, accelerate and refine scenario envisioning and planning. As organizations become more mature in both digital intelligence and digital re-invention, the dynamic interplay between functions will increasingly become a source of competitive advantage.

The authors address how a combination of artificial intelligence (AI) and cognitive computing --- adaptive data management systems that monitor, analyze, make decisions and learn -- will transform businesses, work and customer offerings.

A survey of 6,050 C-suite executives worldwide identified a small group of cognitive innovators and revealed what they are doing differently.

Cognitive innovators identify customer satisfaction, retention, acquisition and revenue growth as the primary rationale for embracing cognitive technologies.

Cognitive computing systems are already helping make sense of the deluge of data spawned by ordinary commerce because they are able to adapt and learn.

The authors offer a four-step approach to cognitive computing innovation based on their research findings.

Central to the corporate response to decades of discontinuity has been a rapidly growing and increasingly impactful role of data and digital technologies. This article studies that co-evolution.

Reviewing annual and semi-annual IBM survey data from CEO interviews across the past 20 years, IBM Institute for Business Value research has gained a unique perspective on how corporate leaders have used data technology to stay at the vanguard of change.

In 2021, 62 percent of the highest performing CEOs said technology infrastructure, specifically data infrastructure, is the greatest challenge for their organization.

From coping with uncertainty, change and complexity, to the need for more actionable insights, to empowering the individualization of the customer experience and engagement with ecosystem partners, data and digital technologies are now central to helping organizations address their top challenges.

Business leaders must think strategically about how the interplay between data, technology and business transformation will need to be shaped to catalyze even more value for the enterprise and its customers.