Cognovi Labs, a company developing technologies to prioritize social responsibility using Artificial Intelligence (AI), was recently named the 2021 PM360 Trailblazer finalist for the Vendor/ Supplier Company of the Year award.
Cognovi Labs Finalist of the PM360 Trailblazer Awards
PM360 is a pharmaceutical and biotech-focused publication whose Trailblazer Awards recognize shaping innovation and achievement in the dynamic healthcare marketing. Cognovi Labs was picked out because of its Cognovi Emotional AI. It is their latest product using artificial intelligence to generate real-time emotional insights at scale to pick out precise emotions that influence decision making.
Of note, the artificial intelligence-powered solution has a psychological founding. However, the integration of AI makes it more beneficial as it provides a clearer picture of how people are influenced by their emotions during decision-making. This is central to Cognovi Labs' focus, realizing that people are subconsciously influenced by their feelings during decision-making. These decisions can be arbitrary, including how people choose their favorite companies, products and how they go about their daily routines.
Cognovi Emotion AI: Predicting emotionally-driven Decision Making in Real-Time and at Scale
Cognovi Labs have developed various technologies to allow users to anticipate emotionally triggered decisions before they happen. The company claims that their Cognovi Emotion AI is the first to measure and, therefore, enable clients to predict possible client outcomes based on emotional triggers in real-time and at scale.
With the impact of the Coronavirus and the resulting shift in client behavior impacting their decisions, Beni Gradwohl, Ph.D., the co-founder of Cognovi Labs, said the impact of the pandemic has intensified their mission to use the technology. He further adds that their proprietary technologies would help support mental, physical, and emotional wellbeing.
Cognovi Labs' Solutions in Consumer and Healthcare
Because of government intervention to contain the spread of the coronavirus pandemic, there were notable changes in the population's behavior, especially in consumption.
These were mainly emotionally driven and advised on the need to isolate to prevent virus transmission. The result saw most clients shift, for instance, to shop straight from their computers, away from physical stores. This movement indicated that emotions directly shaped decisions and is where Cognovi technologies step in.
Cognovi Labs has stated that its solutions can pick out consumer decision-making patterns to increase purchasing intent and accelerate revenue growth. At the same time, it can maximize KPIs and fine-tune the performance of a new product. Meanwhile, healthcare providers contending with change can integrate the solution to accelerate prescription growth and continuously optimize product launches. Besides, they can tap into another of Cognitive Lab's products, the EmotionNPS, for reputation enhancement and branding.
Contribution to National Security Enhancement and Public Sector Good
In the public sector, Cognovi Labs also maintain that their technologies can be used as a tool to counter propaganda and further bulwark National Security through what they say is a "next-generation threat detection."
Already, to dispel fear around the efficacy of the Coronavirus vaccine, they developed a Vaccine Confidence Tracker to help measure the public's attitudes and experiences towards COVID-19 vaccination. A section of the general population is hesitant and less enthusiastic about the vaccine with a recent pattern along political lines, especially in the U.S., gauging the level of receptiveness.
Besides, Cognovi Labs also has the Coronavirus Panic Index, which they released in early 2020. The index is a global sentiment indicator tracking the level of COVID-19 media coverage with public anxiety, fear, and panic caused by the same. The slope of the indicator has been sloping as governments accelerate vaccination and other interventions proving effective in preventing transmission.