Cognitive
services enhance the computing experience of users with systems that can hear,
understand, speak, and even reason. These services employ Application
Programming Interfaces (APIs) and Software Development Kits (SDKs) to provide
support to developers for making intelligent applications. The services use
machine learning APIs, along with Natural Language Processing (NLP), to add
intelligent features to the applications. Cognitive services are mainly
classified into vision, speech, search, language, and knowledge APIs. The need
to align core work with business objectives and growing data volume are
expected to drive the growth of the cognitive services Industry.
Aligning core
business work with organizational objectives and increase in data volumes are
expected to drive the growth of the cognitive services market. With the help of
cognitive services, the growing data volumes across various enterprises can be
used to identify potential growth opportunities, enhance business operations,
and design growth strategies.
The rising
demand for intelligent Application Programming Interfaces (APIs) to build
smarter applications is enhancing the use of cognitive services across
industries. The major enterprise cognitive service vendors include Microsoft
(US), IBM (US), SAS (US), AWS (US), Google (US), Baidu (China), Apple (US), TCS
(India), Nuance Communications (US), and Qualcomm (US). The market players have
adopted the strategies of new product launches, product enhancements,
acquisitions, collaborations, and partnerships to offer feature-rich products,
solutions, and services to their customers and penetrate deeper into un-catered
regions.
Microsoft is
a US-based multinational company and an IT giant. The company focuses on
delivering a wide range of APIs to solve various business challenges. The
company has designed these APIs with machine learning capabilities, which can
help clients add intelligent capabilities to their applications. In May 2018,
Microsoft updated its cognitive services portfolio with the addition of several
innovative features. The company also announced the availability of new
services, such as Unified Speech Service and Bing Visual Search through its
cognitive services portfolio. In addition,, the company expanded its Cognitive
Services Labs of Innovative Technologies. In May 2017, Microsoft partnered with
Gupshup, which is a leading bot platform. With this partnership, Gupshup has
made Microsoft’s cognitive services accessible on InterBot, which is a
bot-to-bot communication channel. This partnership would help developers to
quickly and easily add intelligent capabilities to build bots for Microsoft
Teams, Cortana, and Skype.
IBM is a
multinational company, an established Information Technology (IT) player, and a
globally renowned vendor offering dedicated software, hardware, and related
services. In March 2018, IBM announced it has enhanced its speech recognition
product to recognize spoken words, which are very close to human parity. In January 2017, IBM partnered with Panasonic
Automotive Systems to introduce the Panasonic Cognitive Infotainment (PCI)
platform that is designed to provide cognitive vehicle solutions. This platform
uses the natural language processing technology to answer questions related to
eCommerce purchases and safer driving.
Know More@ https://www.marketsandmarkets.com/Market-Reports/cognitive-services-market-155826417.html
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