IBM Watson in Cognitive Analytics Solutions

IBM holds an eminent position in the cognitive analytics market and offers a wide range of business applications spread across various industries, such as IT, commerce, education, insurance, financial services, health, and energy and utilities, using its Watson platform and cognitive services. The company has extensively increased its customer base through frequent partnerships, collaborations, and agreements with major IT players, such as Salesforce, SAP, and Cisco, as well as, regional players and startups. It has further expanded its reach in the market by acquiring its focus industries, such as healthcare, customer engagement, and financial services. The company has shown significant contribution towards its R&D spending to develop new products and improve the existing ones. In September 2017, IBM in partnership with MIT, announced a 10-year, USD 240 million investment to create the MIT–IBM Watson AI Lab. The lab would carry out fundamental AI research and seek to propel scientific breakthroughs that unlock the potential of AI. The collaboration aims at advancing the AI hardware, software, and algorithms related to deep learning and other such areas; increasing AI’s impact on industries, such as healthcare and cybersecurity; and exploring the economic and ethical implications of AI on the society. With an extensive partner channel, the company delivers its products and services globally, and adds value to its portfolio through frequent partner-enablement programs. Recently, in February 2017, the company announced strategic enhancements to its PartnerWorld program, redesigned to include over 40 competencies to help business partners build a greater expertise in high growth areas, such as cloud, cognitive, and security.