Explore the key differences between Cognitive Computing and Artificial Intelligence. Discuss the prospects and consequences of application of these technologies in manufacturing sector.

Differences between Artificial Intelligence and Cognitive Computing

• Artificial intelligence (AI) is defined as science of making machine perform certain tasks which normally require human intelligence. On the other hand, Cognitive computing involves simulating machines with human thoughts thereby enabling them with computing skills.
• Artificial Intelligence is an umbrella term for all those algorithms and technologies that enable machines perform intellectual task. It includes combination of cognitive computing, speech recognition, text identification, robotics and machine learning. On the other hand, cognitive computing is limited to computing power of machines and is a subfield of artificial intelligence.

Prospects of the application of Artificial Intelligence (AI) and Cognitive Computing (CC)

• Such technologies reduce chances of error and increase the accuracy and speed. They are highly capable of addressing industrial problems and can boost manufacturing industry.
• They can be used for exploration works- space exploration or even exploration of oceanic floors for fuels and minerals
• These can be deployed in banking and other financial institutions for faster computation and safer disbursements
• Can be highly useful in clinical diagnoses and healthcare applications

Consequences of the application of Artificial Intelligence (AI) and Cognitive Computing (CC)

• One of the major consequences that are feared from these technologies is jobless growth in the economy. Job crisis is at its peak not only in India, but in most of the countries. Under such circumstances, these technologies can further worsen the situation.
• Next is the safety and security concern. AI and CC can be used for manufacturing sophisticated and autonomous weapons and prove highly destructive. Thus, they pose serious threat to humanity.
• The landscape of these technologies is dominated by international giants like IBM, Microsoft, and Google. Therefore, maximum profit from their deployment in India would be reaped by foreign companies and not by Indian firms. (313 words)