Join Deloitte Insights for an in-depth discussion in this video Product applications, part of Cognitive Technologies: The Real Opportunities for Business.
- In this lecture we're going to talk about product applications. Product applications embed cognitive technologies in a product or service in a way that touches and delivers a benefit to the end customer. An example that many of us are familiar with is Netflix, the online video streaming service. It uses machine learning to predict which movies you're likely to enjoy and recommends those to you. The machine learning powered recommendation system is so effective that it accounts for 75% of the usage on Netflix. Another example is General Motors, which is planning to introduce computer vision in new models of cars not to watch the road in front of you but to watch you, the driver, and make sure you're paying attention to the road and alerting you if you're not.
Another example is Kraft whose iFood Assistant mobile app uses voice recognition to allow you to search for grocery items and recipes by voice and to build and save grocery lists. There are also entirely new product categories springing up powered by cognitive technologies, like robotic vacuum cleaners or intelligent personal assistants, like Google Now, that use machine learning to predict what information you're likely to want before you even search for it. Sometimes artificial intelligence enhances products discreetly.
You may not even know it's there. There's some mobile phones for instance that predict what you're likely to type next using machine learning and make it more likely that you'll succeed by enlarging the area around the mobile phone key to make it more likely that you'll hit it. Think about how embedding cognitive technologies in your company's products or services could create value for your customers. We did a study of consumer goods companies and identified four main ways the companies are creating value for their customers with cognitive technologies.
The first is greater ease of use and convenience. You can't get more convenient than a vacuum cleaner that cleans by itself. Second is simplicity. Automation and machine learning can be used to learn your preferences automatically. Allowing product makers to eliminate knobs, settings, and dials and let the product figure out on its own what you want, like a home audio system with no knobs at all that figures out what song to play next for you. The third benefit is empowering and instilling confidence in customers, especially when they're making complex shopping decisions, like customizing the computer you're buying or selecting right size of a new brand of clothing based on your prior shopping experiences and the experiences of other customers with the brand.
The fourth benefit are emotional effects. From robotic toys to appliances you can talk to, cognitive technologies are helping product makers foster emotional bonds between customers and their products. To guide your thinking about embedding cognitive technologies in your organization's products or services, consider these questions. Would your customers like to use you product hands free? Is your product too complex? Do customers have to make complicated choices to buy your product? And would a natural interface, like voice or gestures, help customers bond with your product?
- Artificial intelligence explained
- Cognitive technologies explained
- Supervised, unsupervised, and reinforcement learning
- Machine learning models and algorithms
- Language, speech, and visual processing
- Business applications of cognitive tech
- The impact of cognitive technologies at work
- Future of cognitive technologies