Cognitive technology is in the same vein as machine learning and virtual reality except that it’s a broader concept. For example, the cognitive technology umbrella includes things like natural language processing (NLP) and speech recognition. Combined, these different technologies are able to automate and optimize a lot of tasks that were previously done by people, including certain aspects of accounting and analytics.

How it’s affecting industries: Although cognitive technologies have a broad range of applications, Deloitte predicts that the industry sector most affected by this trend initially will be the software sector with 95% of enterprise software companies projected to adopt these technologies by 2020.

With emerging technologies changing professional industries including banking, eCommerce, healthcare and education, staying up to date on the latest trends will give you a better understanding of your chosen industry and make you a more competitive candidate. Best of all, this knowledge might open up new doors within your field and others.

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