Half of 6,000 surveyed global CEOs plan to adopt cognitive computing by 2019, according to a new IBM Institute for Business Value study. All respondents said they anticipate a 15% return on investment from cognitive initiatives, according to an IBM press release.
The study also found more than 70% of CEOs believe cognitive computing will be a significant factor in their organizations' future.
Respondents indicated their first priorities will be to apply cognitive computing in specific business functions including information technology, sales, information security and innovation, according to IBM.
That's a lot of action in a short amount of time. Clearly, companies see the potential in cognitive computing. IDC recently estimated more than 80 of the world's 100 largest enterprise software companies (by revenue) will soon also have one or more integrated cognitive technologies in their product line and customer experiences.
Companies like IBM will likely help this effort by offering products to more easily tap the potential of cognitive computing. For example, IBM launched a new Watson-powered software suite last month that's designed to help financial professionals to make better-informed risk and compliance decisions.