Ivan Portilla, an IT architect at IBM, discusses cognitive computing and its applications in various industries. He explains that cognitive computing is a field of research that focuses on creating machines that can understand human language, reason, and learn from experience. Ivan shares examples of how IBM's Watson system has been used to detect cancer, provide healthy food recommendations for hotel guests, and streamline the travel industry. He also highlights the importance of POWER8 hardware architecture in supporting cognitive computing applications. Additionally, Ivan emphasizes the need for businesses to understand cognitive computing and use the right tools and resources to implement it effectively.