Big Data is the new oil of enterprise and artificial intelligence will unlock its value – IBM chief technology officer

Artificial intelligence (AI) systems have the potential to convert Big Data into valuable information that can assist corporate decision makers, says IBM chief technology officer Michel Teyssedre.

He says the world is “entering a new era of information technology; from programmable systems to cognitive systems,” whereby intelligent computers that continually self-learn can break down Big Data into useful, understandable information and calculate effective solutions to problems.

At the “Artificial intelligence for a world without risks?” session at the AMRAE 2015 meeting, Teyssedre said cognitive systems could become integral to the risk management process.

He said: “We are in the new era of IT: cognitive IT. Data is the new oil of enterprise and these cognitive systems can manage the complex plethora of data with which neither individuals nor programmed systems can cope.

“[Cognitive systems] can identify weak points and propose effective ways of reducing risk, whether it is financial, legal or regulatory risk.”

Furthermore, he said the ability of cognitive systems to self-learn means they absorb new information to offer more accurate assessments and are capable of identifying variables that can improve the accuracy of future assessments.

Teyssedre added: “AI could help crisis management, such as floods, whereby it can identify the necessary criteria to predict the events with more precision and help people make decisions to manage the situation.”